Payment leaders across Asia have launched the Digital Wallet Guardian Partnership to enhance the security of cross-border digital transactions as e-wallets grow in popularity. Ant International, AlipayHK, and TNG eWallet are spearheading the initiative, focusing on three key areas: technology innovation, knowledge collaboration, and stakeholder engagement. The partnership aims to combat rising fraud risks in the Asia Pacific region, which leads the world in digital payment adoption, accounting for nearly two-thirds of global digital wallet spending at $9.8 trillion. However, this rapid growth has also made the region a hotspot for fraud, with 42% of global payment fraud cases originating there. In 2023, 15% of wallet accounts were compromised, and account takeover frauds increased by 28%. In the first phase, the partners will implement Alipay+ EasySafePay 360, an AI-powered security solution developed by Ant International. The system uses real-time AI analysis of transaction data to build dynamic risk models that detect and block fraud before it occurs. It leverages privacy-preserving computing to securely analyze data across platforms without exposing user information. EasySafePay has demonstrated a 90% reduction in account takeover risk during trials. It includes a Money-Back Guarantee for unauthorized transactions, backed by an AI-driven approval system that processes claims 90% faster and with over 95% accuracy. A customizable user portal allows e-wallet operators to integrate the tools directly into their platforms, improving response efficiency. The solution also enhances the user experience by enabling one-click payments for online transactions, including e-commerce and subscription services, without redirecting users to external apps or browsers. Early estimates suggest this could boost merchant conversion rates by up to 10%. TNG Digital’s CEO Alan Ni emphasized the importance of trust, stating that protecting the 24 million verified users and 2 million merchants in Malaysia is central to their mission. AlipayHK’s CEO Venetia Lee highlighted their 24/7 AI monitoring and proactive anti-fraud measures to ensure secure and convenient payments for Hong Kong’s 4.5 million users. Tianyi Zhang, General Manager of Risk Management and Cybersecurity at Ant International, noted that while AI improves fraud detection, it also introduces new risks. The partnership is designed to co-develop advanced security solutions and stay ahead of evolving threats. Ant International, headquartered in Singapore with operations across Asia, Europe, the Middle East, and Latin America, supports financial institutions and merchants with innovative digital payment and financial technology solutions. The company continues to drive secure, inclusive, and scalable digital economies globally.