Enhancing Online Security: Alliance Bank's Dynamic Card Numbers for Visa Virtual Cards

Alliance Bank Malaysia Berhad Alliance Bank has recently introduced an innovative feature to its existing service offerings, namely Dynamic Card Numbers on Visa Virtual Credit Cards. In collaboration with industry partners like Visa Malaysia, CTOS Digital, Jirnexu RinggitPlus, YTL Communications YES and Touch 'N' Go Digital TNG Digital, this new security measure significantly enhances the online shopping experience for credit card holders.

The dynamic feature generates a unique 16-digit credit card number tlored for each transaction whether e-commerce purchases, streaming subscriptions, or other digital service fees. It's part of Alliance Bank's commitment to their Acceler8 strategy that emphasizes continuous innovation and personalization in banking services catering to evolving customer demands.

By implementing this new function on the Alliance Bank Visa Virtual Credit Card, customers enjoy a more secure payment process while minimizing exposure to risks like fraudulent activities, identity thefts, and other financial fraud. Moreover, it promotes environmental sustnability by decreasing the need for physical credit card production.

The dynamic card numbers provide users with flexibility in managing their subscriptions as they can select a dedicated number that can be used multiple times per service or limit usage as needed. This convenience allows customers to track transactions easily via mobile devices.

We are constantly innovating and tloring our digital solutions based on customer needs, says Ms Gan P Li, the Group Chief Consumer Banking Officer at Alliance Bank. The new dynamic card feature offers peace of mind through enhanced security options when paying online.

Visa Country Manager for Malaysia, Mr Ng Kong Boon echoes this sentiment, stating that As more Malaysians turn to digital commerce, it's crucial they feel secure in making payments online. He applauds the partnership with Alliance Bank and emphasizes the importance of a safe payment environment.

The virtual credit card leverages dynamic card numbers which aligns with TNG Digital’s m for a secure eWallet as per Bank Negara Malaysia guidelines. We hope this will empower customers to manage their online purchases confidently, Mr Alan Ni, Chief Executive Officer at TNG Digital remarks.

With growing concern over data breaches in Malaysia 154 incidents recorded per 100 people in 2022 according to Surfshark the introduction of dynamic card numbers addresses customer concerns and advances security standards for digital transactions.

Applying for the Alliance Bank Visa Virtual Credit Card is strghtforward with an online application process that includes easy submission of supporting documents like EPF statements or salary slips, allowing successful applicants to receive notifications through push alerts.

To learn more about this service or other banking products offered by Alliance Bank, visit https:www.alliancebank.com.mycardspersonalcredit-cardsvirtual-platinum-credit-card.aspx.

About Alliance Bank Malaysia Berhad:

Alliance Bank Malaysia and its subsidiary, Alliance Islamic Bank Berhad, provide a wide range of banking services including consumer, SME, corporate, commercial banking, Islamic banking, and stockbroking. The bank offers convenient access for customers nationwide through multiple channels such as retl branches, Privilege Banking Centres, Business Centres, Investment Bank offices, mobile banking, and internet banking.

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