- Partnership target rising online scams and fraud
- Collaboration enhances M’sia’s modern security, ensuring safer monetary transactions
CelcomDigi Berhad and Payments Network Malaysia Sdn Bhd ( PayNet ) have announced a landmark inter-industry partnership to provide Malaysians with more secure and seamless access to digital financial services through CelcomDigi’s Open Gateway. In a joint statement, both companies highlighted that by leveraging Open Application Programming Interface ( API ) integration, this collaboration supports Malaysia’s push for greater digital security, empowering individuals and businesses with safe and convenient financial transactions while fostering a more interconnected digital ecosystem.
They stated that the key target of this agreement is to actively address the rising threats of online scams and scam, which remain a pressing challenge in today’s electronic economic landscape. Swindlers often exploit gaps in consumer protection techniques, preying on threats in identification and access methods. So, this partnership aims to strengthen digital protections and drastically reduce such risks, making these risks a thing of the past.
In line with the Open GSMA Initiative, this relationship leverages CelcomDigi’s Open Gateway API to allow PayNet to confirm DuitNow deals through stable SIM-based identification. This process ensures that the portable number linked to a DuitNow customer ID is effective and held by the authorized account owner. It is especially ideal for DuitNow, which uses smart figures, MyKad, or company registration numbers as user IDs for purchases. Also, this added security reinforces confidence in the system, creating confidence among Malaysians to follow wireless devices for financial transactions.
SIM-based identification offers major security benefits. According to the events, each SIM card is unique, safely stored within a portable unit, and not simply duplicated, reducing the risk of fraud and scams. This is especially important as banking and financial schemes continue to be among the most common forms of scam in Malaysia. PayNet already processes over 13 million online transactions everyday. Unlike traditional verification strategies that rely on OTPs, which require regular code access and are susceptible to human error, SIM-based identification provides a more secure option for consumers.
Furthermore, the partnership enhances digital security by collaborating with financial institutions and the National Scam Response Centre via the National Fraud Portal ( NFP). By streamlining fraud record handling and sharing real-time scam brains, NFP provides reports to CelcomDigi, enabling proactive measures to quickly flag, block, and blacklist scam-linked phone numbers. This approach also prevents fraudsters from misusing flagged numbers to create new accounts, further reinforcing security for all users.
CelcomDigi’s CEO, Idham Nawawi, said,” 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—this initiative comes at a pivotal moment, reinforcing the need for stronger security as scammers grow more adept at bypassing traditional defences 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”, he added.
Building on its commitment to financial inclusion and security, PayNet underscores the critical role of trust and fraud prevention in enabling a seamless digital payment experience.
Farhan Ahmad, Group CEO of PayNet, said,” 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”.
Together, CelcomDigi and PayNet are committed to advancing digital security, driving innovation, and expanding financial access, ensuring that Malaysians can transact with trust and ease in a fast-evolving digital economy.