Visa launches updated Security Roadmap for Vietnam

The new security measures are part of Visa’s updated Security Roadmap for Vietnam which is designed to provide enhanced protection for online and offline transactions.

Dung Dang, Visa Country Manager for Vietnam and Laos said, “Security is Visa's highest priority and we invest heavily to enhance the security of every transaction to ensure consumers and businesses are protected."

"As the payments landscape evolves, so do the threats, and that’s why I’m pleased to launch our updated Security Roadmap which, in collaboration with our partners, will continue to secure the payments ecosystem in Vietnam," Dang added.

Visa is continuously evolving to deliver data-based, security-focused solutions that reduce fraud and protect the payments ecosystem. Over the last five years, the company has invested $9 billion globally to boost security and combat fraud.

Visa uses AI and data-driven solutions to identify, investigate, and prevent attacks targeting the global payments ecosystem, while providing strategic security expertise and comprehensive protection against emerging security threats.

One of its solutions – Visa Advanced Authorisation – analyses more than 500 data elements to generate a risk score for each transaction, a move that helped banks prevent an estimated $26 billion in fraud globally in 2021.

With Southeast Asian consumers living increasingly digital lifestyles, the use of biometrics, such as fingerprint or facial recognition, are growing in popularity.

Awareness of biometric payment authentication is high among Southeast Asian consumers at 75 per cent, with more than half believing it is a safer way to pay.

“When looking to the future of security, Visa believes that focusing on digital identities and their authentication will be key to mitigating new threats as commerce shifts to more digital channels,” added Dung Dang.

With a global team of over 1000 cyber security specialists, Visa provides 24/7, real-time fraud detection and mitigation, analysing millions of transactions every day for known and emerging threats.

Visa’s AI-powered technology is able to spot patterns in data otherwise undetectable by humans to identify enumeration patterns and alert affected financial institutions and merchants before fraudulent transactions begin.

Visa’s Security Roadmap outlines the steps the company will be taking across key areas that will secure the payments ecosystem in Vietnam, including driving adoption of secure technologies as well as preventing consumers and businesses from becoming victims of scams.

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