As the platform has integrated the 3DS 2.0 technology into the app, this re-emphasises YouTrip’s commitment to making digital payment experiences safer, smarter, and more convenient.
YouTrop’s officials said that seeing the upward growth in their transactions on local and overseas online merchants, the 3DS 2.0 introduced to their digital wallet will serve as an additional layer of security to reduce fraudulent activities in online transactions. The 3DS 2.0 prompts users to authenticate their purchases seamlessly through the app instead of a SMS One-Time password, which is riskier due to the increasing phishing scams, allowing users to make online purchases with an ease of mind.
Users will be prompted to authorise their online payment through their YouTrip app. It provides them greater control over the transactions made as users would be able to go through the transaction amount and merchant information before authenticating the payment.
The in-app verification process also allows users who are travelling to enjoy a seamless experience as the authentication process is done via the app and not through the SMS OTP which they may not be able to access when they are overseas.
The 3DS 2.0 technology can better determine if the purchase is actually made by the user and serve as a fraud detection tool to identify fraudulent transactions. With risk assessment processing, 3DS 2.0 provides a more robust risk-based authentication to screen online merchants, allowing users to shop securely.
In July 2022, YouTrip has launched an in-app travel insurance product backed by HL Assurance.
Singaporean users can access the new travel insurance on YouTrip’s multicurrency app. Through the app, travellers will be able to buy a single-trip policy with up to 65% savings on their plan.
The neobank also guarantees 15% cashback for users on each purchase of a single-trip policy from their HL Assurance COVID-19 travel plan. The product covers COVID-19-related issues like overseas hospital cash benefits, quarantine allowance, and travel disruption reimbursements.
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