Ant Financial has released a new version of the Alipay mobile app that integrates local services and social-networking and wealth-management functions. That means users can now do anything from redeeming promotional coupons for restaurants near them to sending messages (and money) to their friends and families, to managing their investments and watching stock prices.
But the new version also did away with requiring users to enter a gesture password to open the app, a move several Chinese media reports and dozens of users on popular microblogs said could place their data at risk. Also known as ‘pattern locks’, such passwords require users to move their finger over the touch screen in a precise pattern.Ant Financial’s vice president for fraud risk management defended the move, saying that the security step was unnecessary. The app’s payment function is still protected with a password while users are likely to already havepassword locks on their devices.
Still, the outcry has prompted Ant Financial to work on new security features for certain data that users might consider sensitive, such as their account balance and data on their investments.
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