Telenor Microfinance Bank Awarded PCI DSS Certification, for excellence in Cardholder Data Security

Telenor Microfinance Bank (TMB), operator of Pakistan’s leading digital financial services platform easypaisa, has achieved a significant milestone by receiving the prestigious Payment Card Industry Data Security Standard (PCI DSS) certification (ver.4.0) from Risk Associates, a leading PCI Qualified Security Assessor (QSA) in Pakistan. This certification underscores TMB’s commitment to upholding high standards of data security and handling cardholder data with utmost diligence.

The certification ceremony, which took place at TMB’s Islamabad office, marked a significant milestone in the Bank’s commitment to data security excellence. Key stakeholders from both institutions attended the event. Representing Risk Associates were Aziz A. Rahim, Chief Operating Officer, and Hashim Mufti, Head of Business Development & Strategy. From TMB/easypaisa, attendees included Muhammad Rizwan Ikram, Chief Risk Officer, Mustapha Salim Lotia, Head of Information Security, and Ahmad Sabih, Head of GRC.

PCI DSS is the industry benchmark for secure payment card processing, setting stringent security requirements for organizations handling cardholder data. The certification was awarded following a comprehensive assessment of TMB’s protocols for securing sensitive payment information and protecting customer data.

During the ceremony, Aziz A. Rahim, Chief Operating Officer, Risk Associates, presented the PCI DSS Certificate of Compliance to Muhammad Rizwan Ikram, Chief Risk Officer, TMB/easypaisa, and Mustapha Salim Lotia, Head of Information Security, TMB/easypaisa.

Commenting on this accomplishment, Kashif Ahmed, Acting President & CEO, TMB/easypaisa, remarked, “We are committed to maintaining the highest standards of excellence in data protection, and achieving the PCI DSS certification underscores our unwavering dedication to prioritizing the security of customer data. As we transition towards becoming a Digital Retail Bank, pending regulatory approvals, our robust data security measures will serve as a testament to our commitment to adapting to evolving threats and continuously safeguarding our customer’s data”.

Kashif Hassan, Managing Director of Risk Associates, congratulated TMB for achieving this milestone, stating, “This certification demonstrates TMB’s commitment to implementing robust security measures and maintaining industry-leading standards in financial transactions.”

The milestone certifies TMB’s enhanced payment card account data security and ensures compliance with a stringent baseline of technical and operational requirements designed to protect account data. We remain at the forefront, having deployed some of the best security procedures and measures to ensure our customers can enjoy a seamless and secure transaction experience.

With over 40 million registered mobile accounts and counting, TMB/easypaisa continues to lead Pakistan’s digital financial services landscape, dedicated to fostering financial inclusion through technological innovation.