Four Major Third-Party Payment Providers Adopt FIDO and Data Masking to Fight Fraud

Third-party payment services connect large numbers of merchants and consumer transactions, but conventional SMS verification codes can be intercepted or obtained through deception. Transmitting personal data in plain text also raises the risk of leaks. Taiwan's Third-Party Payment Service Association has therefore launched a digital trust initiative, with NewebPay, ECPay, Oen Tech and Cherri Tech leading efforts to strengthen transaction security.

The four providers have announced the adoption of FIDO fast identity verification and data-masking technology. Fingerprint or facial recognition will replace SMS verification codes, while highly sensitive personal data will be obscured throughout the transaction process to reduce online card fraud and scam risks. Available information does not specify a formal launch date, implementation costs or the monetary impact on fraud prevention.