CelcomDigi Berhad (CelcomDigi) and Payments Network Malaysia Sdn Bhd (PayNet) have announced a significant partnership to enhance access to digital financial services for Malaysians. This collaboration aims to provide a more secure and seamless experience using CelcomDigi's Open Gateway and API integration.
The goal is to improve digital security, empower individuals and businesses, and create a more connected digital ecosystem. The main focus of this partnership is to address the increasing threats of online scams and fraud in the digital financial landscape. By strengthening digital safeguards and reducing risks, the aim is to make vulnerabilities a thing of the past.
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Reducing Risk
In line with the GSMA Open Gateway Initiative, CelcomDigi's Open Gateway API will enable PayNet to verify DuitNow transactions using secure SIM-based authentication. This method ensures that the mobile number linked to a DuitNow user ID belongs to the registered account holder, enhancing trust in the platform and encouraging the adoption of mobile transactions.
SIM-based authentication offers significant security benefits by reducing the risk of fraud and scams, especially in the banking sector. This partnership also involves collaboration with financial institutions and the National Scam Response Centre to prevent fraudsters from misusing flagged numbers. The Memorandum of Understanding (MoU) was signed by the CEOs of CelcomDigi and PayNet, with the support of Bank Negara Malaysia.
CelcomDigi’s Chief Executive Officer, Datuk Idham Nawawi, stated, “This landmark collaboration between the telecommunications and payments industries is aimed at further safeguarding all Malaysians. By enabling SIM-based authentication technology, we are providing financial institutions with a more secure way to authenticate users, making digital financial transactions significantly safer.
“As scams and fraud rise—especially in the age of artificial intelligence (AI)—this initiative comes at a pivotal moment, reinforcing the need for stronger security as scammers grow more adept at bypassing traditional defenses and exploiting digital vulnerabilities. We look forward to expanding this partnership, working with more financial institutions to strengthen digital security and protect Malaysians across the country from emerging digital threats.”
Farhan Ahmad, Group Chief Executive Officer of PayNet, emphasized, “At PayNet, our mission is to build a secure, seamless, and inclusive digital financial ecosystem for all Malaysians. With the 2024 launch of our real-time National Fraud Portal, we took an innovative, bold step towards protecting Malaysians. This partnership builds on the National Fraud Portal by adding real-time account verification through CelcomDigi, providing an extra layer of security for all users. By harnessing Open APIs and collaborative innovation, we are driving a future where financial security and inclusion go hand-in-hand, empowering individuals and businesses to transact with confidence in an increasingly digital economy.”
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