Being the first in the Thailand market to integrate the 3DS 2.0 technology into the app, YouTrip re-emphasizes its commitment to providing safer, smarter, and more convenient digital payment experiences.
Growing Preference for E-Commerce
Since the pandemic, YouTrip has observed a 4.6x growth in annual e-commerce transaction volume over the past two years. This shift towards online shopping is driven by the convenience and accessibility it offers. However, cybersecurity concerns have led around 70 percent of surveyed consumers to be more cautious in choosing online stores and payment methods.
Juthasree (June) Kuvinichkul, Founding Partner of YouTrip Thailand, said: “With the increasing number of YouTrip transactions on local and overseas online merchants, the integration of 3DS 2.0 into our digital wallet provides an additional layer of security to reduce fraudulent activities. Users can now authenticate their purchases seamlessly through the app, mitigating risks associated with SMS One-Time password scams.”
Seamless and Safer Borderless Payment Experience
The 3DS 2.0 technology prompts users to authorize their online payments through the YouTrip app. This enables users to have greater control over their transactions by reviewing the transaction amount and merchant information before authentication.
The in-app verification process also ensures a seamless experience for users who are traveling and may not have access to SMS One-Time passwords when overseas.
With its ability to analyze over 150 key data points related to transactions, the YouTrip 3DS 2.0 technology provides a robust risk-based authentication system to identify and prevent fraudulent transactions. This enhanced security measure allows users to shop securely on online platforms.
About YouTrip Thailand
YouTrip is a Southeast Asian financial technology company dedicated to creating the next generation of digital financial services for consumers and businesses. Since its launch in 2018, it has become the region’s leading multi-currency payment app in Singapore and Thailand. In partnership with Kasikornbank, YouTrip has received over 1.5 million downloads and processed close to 20 million transactions.