CelcomDigi Bhd and Payments Network Malaysia (PayNet) Sdn Bhd have formed a strategic partnership to enhance digital security in financial transactions. They announced, in a joint statement today, that this collaboration would provide Malaysians with more secure and seamless access to digital financial services through CelcomDigi’s Open Gateway.

By integrating Open Application Programming Interface (API) technology, the partnership supports Malaysia’s drive for stronger digital security, enabling individuals and businesses to conduct financial transactions safely and conveniently while fostering a more interconnected digital ecosystem. 

The primary objective is to combat the growing threat of online scams and fraud, which continue to pose significant challenges in the digital financial landscape. Through this collaboration, both companies aim to fortify digital safeguards and significantly mitigate these risks.

CelcomDigi’s chief executive officer, Datuk Idham Nawawi, highlighted that the partnership introduces SIM-based authentication technology, providing financial institutions with a more secure method to verify users and significantly enhance the safety of digital financial transactions. With scams and fraud becoming increasingly sophisticated, particularly in the age of artificial intelligence, he stressed that this initiative comes at a crucial moment. 

He also expressed CelcomDigi’s commitment to expanding the partnership, working with more financial institutions to strengthen digital security and safeguard Malaysians against evolving digital threats.

In alignment with the Open Global System for Mobile Communications Association (GSMA) Initiative, this collaboration leverages CelcomDigi’s Open Gateway API, allowing PayNet to verify DuitNow transactions through secure SIM-based authentication. This method ensures that the mobile number linked to a DuitNow user ID remains active and belongs to the registered account holder, reducing the risk of unauthorised access.

The partnership also reinforces digital security through collaboration with financial institutions and the National Scam Response Centre (NSRC) via the National Fraud Portal (NFP). By streamlining scam report handling and sharing real-time fraud intelligence, the NFP provides reports to CelcomDigi, enabling swift action to flag, block, and blacklist phone numbers associated with scams. This proactive approach prevents fraudsters from misusing flagged numbers to create new accounts, further strengthening security for all users.

Meanwhile, PayNet’s group chief executive officer, Farhan Ahmad, stated that with the 2024 launch of the National Fraud Portal, the companies are taking a bold and innovative step towards protecting Malaysians. He explained that the partnership builds on the National Fraud Portal by introducing real-time account verification through CelcomDigi, adding an extra layer of security for all users.

By harnessing open APIs and fostering collaborative innovation, Farhan emphasised that the initiative is shaping a future in which financial security and inclusion go hand in hand, empowering individuals and businesses to transact with confidence in an increasingly digital economy. He reaffirmed CelcomDigi and PayNet’s commitment to advancing digital security, driving innovation, and expanding financial access, ensuring Malaysians can engage in transactions with trust and ease in a rapidly evolving digital landscape.

(Source: NST) 

• TAGS:
• CelcomDigi
• CelcomDigi’s Open Gateway API
• Digital Security
• DuitNow
• Fraud
• Payments Network Malaysia
• PayNet
• SIM-based authentication technology