VPBank pioneers in implementing new authentication methods for online transactions

Nowadays, users are familiar with security confirmation when making online transactions, especially in the context of increasingly sophisticated online fraud. To ensure safety, banks use high-tech solutions, simultaneously deploying many solutions to minimize and prevent risks for customers when making online payments. The most popular of which is the authentication method using OTP code (One Time Password).

The OOB method will help customers have a more seamless and secure international card transaction experience.

OTP is a string of characters or numbers created by the bank and sent to the user's phone number to confirm the transaction. The methods of authenticating online transactions using OTP codes that banks often use include OTP sent via SMS or email. Users will receive a message containing the OTP code from the bank sent to the previously registered phone number or email. However, these authentication methods are sometimes inconvenient when users cannot receive SMS (due to going abroad, not using international roaming services, etc.) or email (due to forgetting the password, email no longer in use, etc.), or even risk of OTP disclosure.

To overcome the above inconvenience, VPBank has just pioneered the implementation of a new authentication method when making online transactions for international cardholders called Out of Band (OOB), also known as authentication via VPBank NEO.

With this method, when customers need to authenticate online transactions using international cards, they will be redirected to the VPBank NEO digital banking application, then authenticate (like logging in) with Password/Passcode/Biometric and complete the transaction authentication.

OOB transaction method helps customers to perform quickly and keep information secure.

“In the context of increasing cybercrime, VPBank has researched and implemented many measures to support customers to enhance security to avoid attacks. OTP code is one of the necessary security layers to protect users, and the OOB method will help customers have a more seamless and secure international card transaction experience. For customers, the right to protect personal information is very important, so they should not share OTP codes with anyone, including the bank” – VPBank representative shared.

In addition, with the goal of bringing the most attractive experiences to customers when using payment cards, VPBank has launched Card Zone right on the VPBank NEO application since 2023, serving customers' card spending needs from opening cards, card management, installment management, linking with Tap & Pay payment solutions (Apple Pay, Samsung Pay, VP Pay...). A special feature in Card Zone based on user experience with the mentality of wanting to hunt for the most attractive offers is the Deal Box category. When accessing Deal Box, customers can choose to view offers by industry, offers exclusively for cardholders, the nearest offers by geographical distance...

For more information, please call hotline 1900 54 54 15 or visit website: https://www.vpbank.com.vn/

Instructions for OOB authentication:
1. Choose to pay online with VPBank international card on shopping apps and websites
2. Select Out Of Band authentication method (VPBank NEO)
3️. Click on the transaction confirmation notification
4️. Login to VPBank NEO
5️. Choice:
➖ "Confirm transaction" 👉 “Transaction successfully verified”
➖ “Cancel transaction” 👉 “Authentication transaction canceled” 👉 return to the shopping app/website to choose another authentication method or end/cancel the transaction.
Note: You need to update to the latest version of the VPBank NEO app and enable notifications on your device to use the OOB transaction authentication feature.

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