AXS, a leading provider of secure and convenient payment solutions with over 23 years of industry experience, is investing $3.5 million to launch a Cyber Fraud Protection insurance feature in collaboration with HL Assurance.

Enhanced Protection for Users

The new initiative, available to AXS users from today until 31 May 2025, offers enhanced protection against fraudulent activities and includes a complimentary $5 AXS bill payment e-voucher upon sign-up.

The Fraud Protect360 insurance covers AXS users for up to $1,000 against cyber incidents such as unauthorised electronic fund transfers from their personal bank accounts and online retail fraud where payment was sent but goods were not received.

First-of-its-Kind Coverage in Singapore

Introduced in partnership with HL Assurance, this insurance plan offers an extra layer of protection, ensuring peace of mind for users as they conduct transactions on the AXS platform and engage in other online activities. The Fraud Protect360 is the first in Singapore to safeguard against fraudulent transactions across emails, mobile text messages (SMS), and WhatsApp.

User Benefits

• Free Cyber Fraud Protection: The Fraud Protect360 insurance is provided at no additional cost, giving users essential financial protection without any extra expense.
• Free e-voucher: Users who sign up for the Fraud Protect360 insurance will receive a $5 AXS e-voucher, which can be used for bill payments and other services within the AXS mobile app, adding immediate value for users.

Chin Mun Chung, CEO of AXS Services, expressed his enthusiasm about the new initiative. “We are thrilled to partner with HL Assurance to offer a first-of-its-kind fraud insurance and a $5 AXS bill payment voucher to all AXS mobile app users. This initiative not only aims to provide our customers with peace of mind in their everyday lives but also seeks to help alleviate financial burden. Together, we are committed to delivering innovative solutions that offer comprehensive protection and tangible relief to our users.”

Kelvin Lim, CEO of HL Assurance, added, “We are excited to announce the launch of our latest insurance product in collaboration with AXS. This partnership marks a significant milestone in our ongoing commitment to protect the best interests of our customers. By leveraging AXS’s platform and our innovative approach, we are confident that this new product will set a higher standard in safeguarding against fraudulent cyber activities, providing peace of mind and greater financial security to the public.”

Easy Sign-Up Process

AXS users can now sign up for the new feature within the AXS mobile app and enhance their security at no extra cost. Users need to provide their name, date of birth, mobile number, and email address to avail of this service.