Visa updates security measures in Viet Nam

Wednesday, May 03, 2023 11:38

Representative of Visa makes a speech at an event announcing the security roadmap. — Photo Courtesy Visa Vietnam

Visa has recently announced a series of new payment security measures in Viet Nam that will help fight cybercrime, protect the payments ecosystem, and keep consumers and businesses safe.

The new security measures are part of Visa’s updated security roadmap for Viet Nam which is designed to provide enhanced protection for transactions made online and at physical retailers.

“At Visa, security is our highest priority and we invest heavily to preserve and enhance the security of every Visa 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 sets out the steps we will be taking in collaboration with our partners to continue to secure the payments ecosystem in Viet Nam,” said Dung Dang, Visa country manager Vietnam & Laos.

Visa’s security roadmap outlines the steps Visa will be taking across key areas to continue to secure the payments ecosystem in Viet Nam, including driving adoption of secure technologies; securing digital first payment experiences; ensuring ecosystem resilience, preventing enumeration attacks; enhancing the cybersecurity posture of ecosystem participants; and preventing consumers and businesses from becoming victims of scams.

In addition, Visa continually evolves to deliver data-based, security-focused solutions that reduce fraud and protect the payments ecosystem.

Over the last five years, the company has invested US$9 billion globally to boost cybersecurity and combat fraud.

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

With a global team of over 1,000 cybersecurity specialists, Visa provides 24/7, real-time fraud detection and mitigation, analysing millions of transactions every day for known and emerging threats. Visa’s artificial Intelligence (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. — VNS

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