Business

Dialog Axiata’s Genie Fintech platform recertified for PCI DSS

Published

6 years ago

2020/10/21

L-R – Chathuranga Gunatillake – Senior Information Security Engineer, Nalinda Herath – Lead Security Engineer, Dileepa Lathsara – CEO – TechCERT, Gimali Soysa – Chief Manager- FinTech, Sonali Nonis- Unit Manager- Quality Systems, Geeth Sameera- Specialist- Information Security, Ashitha Kandambige-Specialist- DS & VAS Services, Dialog Axiata PLC

Genie platform offered by Dialog Axiata PLC, was re-certified the coveted Payment Card Industry Data Security Standard (PCI DSS) Version 3.2.1 for the 4th consecutive year from Qualified Security Assessor (QSA) SISA Information Security together with TechCERT, the local consultant and the technical service provider.

PCI DSS ensures the security of cardholder data for credit/debit cards from major card schemes by preventing frauds and data breaches. This is achieved by enforcing leading security controls over the storage, transmission, and processing of cardholder data.

Commenting on this milestone achieved, Renuka Fernando, Chief Digital Services Officer of Dialog Axiata PLC stated, “At Genie, security is placed at top-priority and over the years, we have endeavoured to provide our customers with greater convenience through innovative digital solutions whilst also ensuring that steps are taken to uphold and maintain their privacy and security. On this Genie will remain committed to providing a secure and convenient transaction platform to enable and enhance Sri Lanka’s digital payment landscape”

PCI DSS is the global data security standard adopted by the payment card brands for all entities that process, store or transmit cardholder data and/or sensitive authentication data. Administered by the PCI Security Standard Council, it has 12 essential security compliance requirements which fall into six categories. These categories are; build and maintain a secure network, protect cardholder data, maintain a vulnerability management programme, implement strong access control measures, regularly monitor and test networks, and maintain an information security policy. This set of standards have been developed over time in an ever-evolving security landscape and are intended to provide merchants, financial institutions and customers peace of mind.

Genie is Sri Lanka’s first and only PCI-DSS certified mobile payment application and allows users to add their Visa/Mastercard, Current/Savings Account or eZ Cash account as payment options to the app to make remote payments, in-app payments, over-the-counter payments (OTC via QR Code) at 12,000+ merchant points, and conduct online payments more safely and conveniently.

As COVID-19 accelerated digital transformation and further enforced the need for tighter cyber-security, Genie met these emerging needs head-on. Most recently, Genie enhanced their e-payment security model with the adoption of tokenization technology (replacing sensitive information with a random string of unique characters called “tokens”) and 3D Secure (a simple 3-step verification process) to combat cyber fraud. Additionally, Genie was instrumental in creating avenues of cashless payment transactions in the country, abiding by national social distancing efforts during the pandemic, through partnerships with Eat Me Global and Meatdeal.lk to deliver essential items to customers. Pay by Genie further extended its seamless service to the education sector and healthcare sector to secure academic payments and doctor bookings digitally.

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Business

ADB approves $100 million loan to boost skills development and jobs for youth in Sri Lanka

Published

15 hours ago

2026/10/2

Thilina Walpola

The Asian Development Bank (ADB) has approved a $100 million results-based loan to help Sri Lanka transform its technical and vocational education and training (TVET) system, equip more young people with industry-relevant skills, and strengthen the country’s competitiveness and inclusive growth.

The Skills Development System Transformation Program will support the Government of Sri Lanka’s efforts in improving the quality and relevance of skills training, strengthening links between training providers and industries, and expanding employment opportunities for youth. The program will increase women’s employment opportunities in nontraditional jobs in fields including automotive technology, engineering, information and communications technology, construction, and renewable energy.

“A skilled workforce is essential to Sri Lanka’s long-term economic transformation and competitiveness,” said ADB Country Director for Sri Lanka Shannon Cowlin. “This program will help create stronger pathways from education to employment by making training more responsive to industry needs, expanding opportunities for young people and women, and ensuring that graduates have the skills required by a modern and evolving economy.”

Though Sri Lanka’s economy is recovering, it faces skills shortages in priority sectors, high youth unemployment, and low female labor force participation. Many employers report difficulty finding workers with the skills needed in a changing economy.

Aligned with the Government of Sri Lanka’s Technical and Vocational Education and Training Sector Strategic Framework 2026–2035, the nationwide program will be implemented from 2027 to 2031 and is expected to directly benefit more than 100,000 young people through improved access to quality, employment-oriented training.

Business

USD 40.84m pipeline to secure aviation fuel supplies to BIA

Published

15 hours ago

2026/10/2

Thilina Walpola

By Ifham Nizam

The government has cleared a USD 40.84 million and Rs. 8,548.75 million contract to build a dedicated aviation fuel pipeline from Muthurajawela to Bandaranaike International Airport (BIA), alongside a massive new fuel storage facility with a capacity of 92,000 cubic metres.

Energy Minister Anura Karunatilaka said the project represented a major investment in strengthening the infrastructure underpinning Sri Lanka’s aviation fuel supply and ensuring more reliable fuel availability at the country’s main international airport.

‘This project will provide the infrastructure required to strengthen the reliability and continuity of aviation fuel supplies to Bandaranaike International Airport, Karunatilaka said.

The contract has been awarded to China Petroleum Pipeline Engineering Company Limited, following an international competitive procurement process in which three bids were received.

The project will see a new aviation fuel storage tank complex constructed at Muthurajawela, together with the associated infrastructure required for handling and transferring aviation fuel.

Business

CSE activity up, turnover weak at Rs. 1.4 billion

Published

15 hours ago

2026/10/2

Thilina Walpola

By Hiran H Senewiratne

Trading activity on the Colombo Stock Exchange (CSE) gathered pace yesterday as global fuel prices began to show signs of easing, according to market analysts.In this context, both indices moved upwards. All Share Price Index up by 67.97 points while S and P SL20 up by 8.30 points.

Turnover stood at Rs 1.4 billion with seven crossings. Those crossings were reported in Sampath Bank 1.7 million shares crossed to the tune of Rs 238 million and its share price traded at Rs 140, Access Engineering two million shares crossed to the tune of Rs 159 million and its share price traded at Rs 79.50, LOLC one million shares crossed to the tune of Rs 129 million and its share price traded at Rs 129, HNB 100,000 shares crossed to the tune of Rs 38.4 million and its share price traded at Rs 384, JKH 1.9 million shares crossed to the tune of Rs 35 million and its share price traded at Rs 18.60, Hayleys 100,000 shares crossed to the tune of Rs 22.50 million and its share price traded at Rs 225 and Richard Pieris 847,000 shares crossed to the tune of Rs 22 million and its share price traded at Rs 25.50.

In the retail market top seven companies that have mainly contributed to the turnover were Sampath Bank Rs 114 million (813,000 shares traded), JKH Rs 100 million (5.3 million shares traded) LB Finance Rs 49 million (325,000 shares traded), HNB Finance Rs 30 million (27 million shares traded), HNB Rs 27 million (70000 shares traded), NTB Rs 25 million (82000 shares traded ) and Lanka IOC Rs 21 million (666,000 shares traded). During the day 65 million shares volumes changed hands in 10433 transactions.

The Banking and manufacturing sector counters performed well. In the banking sector Sampath Bank let the market while manufacturing sector especially JKH also significantly performed well. With the fuel revision Land IOC also a significant stock at the floor.

Meanwhile, First Capital Treasuries said that Ramesh Schaffter resigned as a Non-Independent Non-Executive Director with effect from October 1, to facilitate the restructuring of the company’s board.

Yesterday the Central Bank announced the US Dollar rate as against rupee. The rupee was quoted flat at Rs 330.65/80 to the US dollar in the spot market , while bond yields dropped, dealers said.