Another layer of security that PayBats has is TAC number. This security feature applies to all debit card transactions and FPX Internet Banking that happened using PayBats Payment Form.
What is TAC number?
TAC is a unique 6-digit code that you can generate on a device (TAC on Device), receive via SMS (TAC on SMS), or generate via Internet Banking on your mobile phone (TAC on Mobile). The TAC number is provided by the bank to ensure that the transaction or purchasing payment from the customer is valid and authorised by the customer itself. The TAC number is depending on the customer’s bank.
May I see example on TAC number?
Kindly please refer the image on the right. This is an example of TAC number from Maybank.
What kind of fraud that TAC number protects from?
Since the bank sends TAC number to the customer’s mobile phone, thus:
- Only account holder can make payment through the PayBats Payment Form.
- Nobody else can make the payment through PayBats Payment Form unless he steals the account holder’s mobile phone, with assumption that he / she has an access to the mobile phone to get the TAC number.
- Anonymous cannot abuse the PayBats Payment Form.
What is the benefit of TAC number to merchant?
There are a few benefits to you as a merchant:
- The risk of fraud is shifted to the Bank.
- Bank protects account holder / customer from being fraud, thus this leads to a free of mind in using Internet Banking.