Due to this agreement, OVO’s 60 million user base across Indonesia will have a new layer of security and privacy protection with CashShield’s consumer data protection technology.
According to Marketing Interactive, mobile payments have become a lucrative target to cybercriminals. Currently, a stolen account is worth six times more than a stolen credit card in the black market.
Together, the two companies will prevent OVO user accounts from hostile takeovers by cybercriminals and OVO merchants from receiving unauthorised payments from fraudsters.
Combining AI and Wall Street trading tools, CashShield aims to eliminate the need for human involvement to detect and prevent online fraud. OVO, in the meantime, the OVO app has a network of millions of top-up points through Mandiri ATMs, Alfamart convenience stores and Grab drivers across Indonesia.
For more information about CashShield, please check out a detailed profile of this company in our dedicated, industry-specific online company database.
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