MoMo implements Decision 2345/QD-NHNN to enhance security and safety in every transaction

From today, May 29, 2024, users can access the MoMo application to update biometrics from chip-embedded CCCD via NFC simply and conveniently in the "My Wallet" section.

From today, users can access the MoMo app to update biometrics from their CCCD.

In order to enhance the safety of online payment and money transfer transactions in the context of increasingly complex and sophisticated online fraud, the State Bank has issued Decision 2345/QD-NHNN. According to this decision, credit institutions, banks and e-wallets must apply biometric authentication measures for certain types of online transactions.

Specifically, online money transfer transactions, e-wallet top-ups over 10 million VND/time; or cumulative over 20 million VND/day; payment transactions over 100 million VND (over one time or over one day); customers using the service for the first time or changing to a new device must authenticate with biometrics matching the data in the chip-embedded CCCD card.

Mr. Nguyen Ba Diep, Co-founder of MoMo, shared: “Applying biometric authentication will help ensure the safety of online payment activities on the banking system and e-wallet, while protecting customers and limiting the risk of fraud in transactions on the Internet. To ensure a smooth experience, we hope that customers will support and soon provide and update biometrics on the MoMo app from today.”

Committed to putting user safety and security first, MoMo has quickly deployed solutions that comply with Decision 2345/QD-NHNN, and applied AI technology to help users update and authenticate biometrics simply and conveniently. MoMo's top priority is to bring users a simple, fast experience, while still ensuring safety, security and helping to protect personal assets to the maximum extent.

Synchronized biometric authentication based on the Ministry of Public Security's database is an advanced and extremely necessary authentication solution that helps ensure user security, detects signs of forgery and fraud, and increases the reliability of online transactions.

How to update biometrics on MoMo to comply with Decision 2345/QD-NHNN to avoid transaction interruption when applying new regulations from July 1, 2024: Step 1: Log in to MoMo >> "Me" (right corner/bottom of the screen); Step 2: Click "Update" (below the avatar) >> Take a photo of the front of the chip-embedded CCCD; Step 3: Place the chip-embedded CCCD on the back of the phone (Note: Users find the NFC location and hold it still for about 30 seconds to read the data according to the instructions); Step 4: Verify your face, review the information and click "Confirm" to complete.

KIM THANH

Source: https://www.sggp.org.vn/momo-trien-khai-thuc-hien-quyet-dinh-2345qd-nhnn-tang-cuong-an-toan-bao-mat-trong-tung-giao-dich-post742108.html