14th January 2020

Ant Financial launches new global cyber security service platform for its payments service Alipay

Ant Financial has launched a new global cyber security service platform for its payments service Alipay.
Announcing the move at the Alipay Connect Risk and Cybersecurity Conference in Singapore, the Chinese FinTech said the platform would provide support to partners to help them better protect their customers through technology.

It will leverage Alipay’s security technologies and systems knowledge, as well as the experience of helping local e-wallet partners provide financial and payment services to 1.2 billion users, in sectors including mobile payment and financial services, improve risk detection and management.

Alipay’s security technology systems, developed over the course of 20 years, have also adopted emerging technologies such as artificial intelligence AI) and machine learning to detect suspicious transactions and counter fraud attempts.

The new platform adds to solutions that Alipay has already rolled out to help partners improve their capabilities in data security. These include Data Shield, a data privacy protection solution, and MORSE, a multi-parties security computing platform.

Rui Xiongwen, the vice president of Ant Financial and president of the security business group in Alipay, comments "Security is the foundation of financial services across the world.
By opening up this new platform to partners globally, Alipay is demonstrating our commitment to sharing security knowledge and best practices to the community, boosting the confidence of all stakeholders regarding the adoption of mobile payment services."