Dialog Axiata’s Genie Enhances E-Payment Security with Tokenization
September 29, 2020 (Colombo)
Offering customer’s greater avenues of convenience coupled with a future-fit payment security model Genie, Sri Lanka’s first PCI-DSS-certified payment app, powered by Dialog Axiata PLC, Sri Lanka’s premier connectivity provider, has adopted tokenization technology to eliminate friction in its payment process and provide a quick checkout experience.
With increased attention surrounding mobile payments and a myriad of merchants migrating online, payment security is an integral factor in ensuring customer confidence by reducing the risk of fraud and digital data breaches in the platforms they are operating on. Tokenization is a widely used method of replacing sensitive information, such as a primary account number (PAN) of a customer’s credit/ debit card, with a random string of unique characters called “tokens” which are sent across the payment gateway for processing without the actual card details being exposed to the merchant. Widely used, this encryption method is an effective and secure alternative when transferring sensitive information, adding an extra level of security to credit and debit card payments and fast becoming a catalyst in fighting fraud whilst creating a seamless payment process.
At present, Genie allows customers to store their details in a ‘One-Click-Pay’ option across several partner merchants, who also support tokenization technology, facilitating them with greater convenience in not having to enter their payment details each time they perform a transaction for those particular merchants. At present, Genie’s partner merchants who support tokenization include Eat Me Global, chargeNET, eLogic Lanka, and Dialog Axiata’s own MyDialog app.
Speaking on the integration, Renuka Fernando, Group Chief Digital Services Officer of Dialog Axiata PLC stated “Genie stands empathetic to the diverse needs of modern customers and continuously aims to find sustainable digital solutions to meet those growing dynamic needs. Through the adoption of tokenization technology, Genie will enable the digital commerce arena in Sri Lanka to flourish by giving customers and merchants total confidence in the security behind their transactions. As we continue to grow the tokenization process on the Genie platform by onboarding new merchants, Genie will continue to improve the system with more features in time to come”