F-Secure has delivered an embedded solution for TNG Digital’s Touch ‘n go eWallet. The solution is designed to protect the personal data of Touch ‘n go eWallet users. With over 21 million users, of the eWallet and 2 million merchant touchpoints, protection for personal data was in demand.
According to Anand Renukanand, Regional Director APAC, F-Secure, “One of the biggest obstacles to a cashless society is fear.
“Embedded security will help Touch ’n Go eWallet become the trusted consumer partner for all manner of payment types so customers will feel free to expand the type of payments they make with the app until they can use it for every payment.”
What is the Touch ‘n go eWallet?
Touch ‘n go has been around for over 20 years in Malaysia. It has evolved to provide rapid payment at tolls, public transport and street parking. In 2017 the eWallet was launched and partnered with Ant Group to form TNG Digital.
Since then, it has become the biggest digital payment solution in Malaysia. It is now accepted across all toll highways and has an increasing number of financial services using it. There are now investment and lending capabilities available through the eWallet. It has also added NFC capabilities with an enhanced version of the card.
With all of this, TNG Digital knew it needed to improve security and make customers feel their data was safe.
What does the F-Secure solution offer?
The F-Secure solution was developed in conjunction with TNG Digital. It is an embedded solution that sits in the app and uses additional monitoring. It continuously monitors the web for customers’ personal data. If found, the customer is alerted to data being found online. It is similar to the services increasingly being offered by credit agencies and other organisations.
Customers are also offered access to a hotline service that provides additional information on how to deal with any security breach.
What is not clear is whether the solution monitors the dark web or just looks for generic breach data that is easily found. It also doesn’t say if the app provides guidance and alerts when passwords are weak or reused.
Enterprise Times: Why does this matter?
People are not only becoming more mobile, they want easy payment and financial solutions that work for them. They also want increasing amounts of security as they realise just how common cybercrime is. According to a recent F-Secure survey, 50% of APAC consumers have experienced at least one incident of cybercrime in the past 12 months. In Malaysia, that rises to 58%.
Embedding a security control into the app makes perfect sense and it will be interesting to see how many attacks and possible breaches it detects. It is likely there will be an initial spike but that should reduce as users take recommended action.
