Is AsiaPay Safe? Here’s The Truth

8 min read by Bogdi

published un an în urmă, updated 2 luni în urmă

AsiaPay has been providing electronic payment solutions to businesses and organizations for more than a decade. Known for its multi-bank, multi-currency, multi-lingual, and multi-payment operations, it has amassed popularity in Asia and beyond. But the most important concern remaining among digital payment users is whether it’s safe.

AsiaPay is safe to use. It’s a legitimate company with reasonable security measures to keep consumers protected. However, like other reputable online payment systems, it isn’t entirely risk-free since data breaches and glitches are possible anywhere.

It’s always a risk to use online payment processors. However, some are generally more secure than others. Read on to find out if AsiaPay is safe and what to do to give you even more protection while using it.

Is AsiaPay Safe?

AsiaPay is a reliable online payment system, but it isn’t completely safe. The same can be said for industry giants like PayPal. What this means is you can rely on the security measures AsiaPay has set up most of the time, but you shouldn’t think data risks are impossible. However, on a general note, using this company to perform online transactions is secure.

Here are some things that show AsiaPay is safe:

High-Quality Security Technology

Based on AsiaPay’s current security technologies and widely-known focus to constantly update them, the company is quite safe to use.

AsiaPay is compliant with the Payment Card Industry Data Security Standard Council (PCI-DSSC) security standards of online payment systems. This council monitors and updates its requirements to ensure the safety of cardholders across the globe.

Its PCI-DSS Level 1 certificate holds the highest, most strict standard of all PCI-DSS levels. One of its benefits is card tokenization, where customer data is turned into random figures or tokens to conceal the real information. The company is also certified by EMVco (Europay, Mastercard, and Visa consortium), which complements the safety that PCI-DSS specifications demand.

Moreover, AsiaPay has an anti-fraud protection feature that immediately alerts you in case of any unusual, suspicious activities. The company does everything from authentication assessments to transaction filtering to analyze and tackle any data breaches.

As quoted on Business Insider, Asiapay’s CEO, Joseph Chan, said:

Being a leading provider of 3D Secure solution vendor in Asia, payment security has long been our key product and technology focus, and AsiaPay will strive to bring next-generation authentication and security solutions to banks and merchants in Asia, to enhance their business sales, service to customers and competitive edge.

(Sources: Business Insider, CIO LOOK)

Partnerships And Collaborations With Reputable Companies

AsiaPay has worked with and still works with numerous prestigious companies over the years. The company has worked with big banks across the Asia-Pacific region and other businesses like McDonald’s, Cathay Pacific, STARR, Intercontinental hotels, Tesla, British Council, and Nike.

You’ll come across compelling evidence of its trusted technology by these businesses. The Silicon Review quoted Bangkok and Fubon Banks’ testimonials, which revealed its security and reliability.

Their trustworthiness shows in the global growth AsiaPay has experienced, with its latest reach being Australia and New Zealand. With the numerous partners and client references, AsiaPay is perceived as a safe payment system.

(Source: IBS Intelligence)

Credibility Awards

Apart from its security certifications, AsiaPay has received more than 50 awards so far. These awards include (but are not limited to):

  • The Most Trustworthy e-Payment Provider of Cross-Border e-Commerce 2018 by IEBE
  • The APAC Singapore Business Award: The Electronic Payment Solutions Provider of the Year 2019

Most of the awards AsiaPay has received reward its security brilliance as well as how it scrutinizes what its customers are saying about its services, among other market insights, to rank the best.

Based on its consistent winning of credibility awards every year, you can deduce that AsiaPay is safe. The company was even ranked as one of the Top 10 Trustworthy Companies in 2020 by ISSUU, a world-renowned digital discovery and publishing platform.

Here’s a video of the Global Banking Finance Review awarding and interviewing Joseph Chan in London:

Positive Reviews

Although AsiaPay hasn’t amassed numerous reviews on social media and review sites, the positive mentions so far seem to consider it a safe payment system. Finances Online and other reputable sites mentioned above think it has top-notch security.

A few Trustpilot reviewers disagree, but since they comprise only six reviews that dwell mostly on the company’s customer service when it has served millions of customers, it’s not reasonable to dismiss the safety of AsiaPay.

Therefore, based on the positive reviews AsiaPay has received from experts and the few negative responses about the company’s security, you can conclude that it’s safe.

Tips For Staying Safe When Using AsiaPay

If you choose to use AsiaPay, it’s still best to take precautions that increase your safety. As you’ve realized with sites like Paypal, when a fintech company increases its reach, hackers and scammers also target its increasing customers even more.

You can apply the following tips for staying safe when using AsiaPay:

Avoid Transactions on Http Sites

The Http (Hypertext Transfer Protocol) you see in a particular URL shows the fundamental way of communication between a web server and a browser. It’s the reason you’re able to view a web page.

Unfortunately, Http alone can’t keep your connection secure anymore. Therefore, it’s best to avoid sites with only that and only perform transactions on sites with Https, which adds “secure” to the former model.

Install Reliable Antivirus Software

If you do transactions online, you should invest in quality antivirus software. This can help you keep away malware by detecting and fixing any malicious code. When visiting insecure sites, good antivirus software will inform you that the website is harmful so that you can take the necessary precautions.

Some of the most secure antivirus software you can use include:

Create Strong Passwords

Ensure that you create passwords that are tough to guess even for someone who knows you well. Instead of using your birthday, use complex phrases that are only familiar to you. Also, updating your passwords a couple of times a year if you frequently perform transactions online.

Here are some tips for creating tough-to crack passwords:

  • Create long passwords: The longest ones allowed should be your only limit.
  • Complicate the password using uppercase and lower case letters, numbers, and symbols.
  • If you know some weird phrases, use them as your password.

Refrain From Storing Passwords In Your Devices

Creating tough passwords but storing them in your devices renders your initial efforts pointless. Your device will commonly prompt you to save your passwords for convenience. But once you choose ease of access, you increase the probability of security breaches as well.

You don’t have to avoid storing all your passwords. Just make unique transaction passwords and ensure you don’t leave them on your devices.

Inquire About Unusual Account Activity

Whether you contact AsiaPay, your card issuer, or both, the moment you notice unusual activity on your account, inquire about it. When you report an issue early, the chances of it being solved are much higher.

Use the most reliable communication tool, such as a live chat or call. This way, you can hold AsiaPay or your card issuer accountable for their dispute resolution measures.

Update Your Hardware and Software

Whether it’s your operating system, firewall, or antivirus, ensure all your computer hardware and software are up to date. One of the main reasons tech providers release updates is to fix any security loopholes that may be existing in their systems.

Therefore, ensure that all hardware and software you use are updated to the latest version and that the settings are “ON.” This way, you can cover all your bases and know you’ve done all you can to ensure your safety when shopping online.

Use A VPN

A Virtual Private Network (VPN) is crucial if you regularly do transactions online. It routes your internet connections through the VPN secure server, so your real IP address isn’t visible to your Internet Service Provider (ISP) or other prying eyes.

A VPN is your best bet for online protection, even when you take all precautions. Moreover, it comes with added benefits like site unlock restrictions and safe use of public WIFi.

The most reliable VPNs you can use include:

Conclusion

AsiaPay is a comparatively safe payment system to use. It’s a reputed provider of top-notch security services to many trusted businesses in the Asia-Pacific area. Customer testimonials and awards also prove their safety. However, like any other technology, they can glitch and experience data breaches. That’s why it’s crucial to ensure protection using the tips outlined above.

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