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Dialog’s “genie Business” Hosts the First Transaction in Sri Lanka at the inauguration launch of India’s Unified Payment Interface (UPI)

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In a ground-breaking and historic virtual launch, India’s Unified Payment Interface (UPI) made its official debut in Sri Lanka in partnership with LankaPay, where Dialog’s Fintech solution, genie business proudly conducted the inaugural UPI transaction in the presence of the President of Sri Lanka, His Excellency Ranil Wickramasinghe, Prime Minister of India, His Excellency Narendra Modi, and Prime Minister of Mauritius, His Excellency Pravind Jugnauth.

India’s UPI is a real-time payment system that enables Indian users to link multiple bank accounts and conduct seamless fund transfers and transactions using UPI powered applications. Sri Lankan businesses big or small can now embrace the opportunity to accept payments from UPI powered applications. This integration not only ensures smooth transactions but will also enhance the growth of Indian Tourism. With increased accessibility to Indian markets, businesses in Sri Lanka can capitalize on new avenues for expansion and collaboration, fostering greater economic resilience and prosperity.

Dr. Kenneth De Zilwa, Chairman of LankaPay (Pvt) Ltd said “At LankaPay, we’re thrilled to mark a significant milestone in our global journey through our collaboration with the NPCI International Payments Limited. We’re pleased to see genie Business Fintech Solutions by Dialog Finance PLC taking the initiative to be amongst the first 12 acquirers in the country to accept UPI transactions.

Anticipating rapid growth, we plan to onboard approximately 10,000 merchants for UPI payments within three weeks, reaching 65,000 by March 2024. This global partnership with UPI and our business partners genie Business, Fintech Solutions by Dialog Finance PLC not only benefits tourists, SMEs, MSMEs but also lays the foundation for the future enabling Sri Lanka and LankaPay to expand into trade and investment banking products in phase 2. Thereby, contributing to the revenue growth of the multiple sectors, and industries, creating new business models, and in doing so fostering deeper economic ties between Sri Lanka and India.”

Commenting, Renuka Fernando, Chairperson of Dialog Finance PLC said, “We are honoured to conduct the first transaction in Sri Lanka at the inauguration launch of UPI. This ground-breaking initiative will not only enable a wider range of businesses to participate in the digital financial system but brings us closer to our mission at Dialog Fintech to bring financial inclusivity and access to finance for the MSME sector”.

She further added, “At genie Business, we go beyond enabling seamless digital transactions, but also provide crucial tools such as working capital loans and multi-currency options to all businesses. We are not just a payment solution, but a growth partner, supporting to elevate Sri Lankan businesses to stay ahead of an ever-evolving market. Further, we thank all our business partners, including Taj Samudra Colombo, Ministry of Crab, The Bayleaf, Shoulders by Harpos, Harpos Pizza outlets, King of the Mambo by Galle Face Hotel and The Station Restaurant who readily supported this initiative at their hotspots to enable Indian customers to pay using UPI”.

UPI payments are now available at Dialog Experience Centres, including Bandaranaike International Airport and Dialog Iconic Experience Centre in Colombo 02 in addition to the aforementioned tourist hot spots.

genie Business, powered by Dialog Axiata and Dialog Finance PLC, is more than just a payment solution; it’s a trusted partner in growth and success. This all-encompassing platform provides not only the convenience of contactless QR payments from Lanka QR and international networks, Tap and Pay Card acceptance, Payment Links, Multi Currency internet payments, and online transactions, but also empowers businesses with essential tools like E-shops, working capital loans and banking services. Download genie Business app via Google Play Store & Apple App Store to enrol as a genie Business merchant.



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Stealer malware leaked over 2 million bank cards

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The number of infections with data-stealing malware, 2020-2024 (Source: Kaspersky Digital Footprint Intelligence)

Kaspersky Digital Footprint Intelligence estimates that 2.3 million bank cards were leaked on the dark web, based on an analysis of data-stealing malware log files from 2023-2024. On average, every 14th infostealer infection results in stolen credit card information, with nearly 26 million devices compromised by infostealers, including more than 9 million in 2024 alone. Kaspersky released its report on the infostealer threat landscape while the technology world gathers at MWC 2025 in Barcelona.

Kaspersky experts estimate that approximately 2,300,000 bank cards have been leaked on the dark web. This conclusion is based on an analysis of the log files from data-stealing malware, dated 2023-2024, that were leaked on the dark web market. While globally the share of leaked cards is well below one percent, 95% of the observed numbers appear technically valid.

Infostealer malware is not only designed to extract financial information, but also credentials, cookies and other valuable user data, which is compiled into log files and then distributed within the dark web underground community. An infostealer can infect a device if a victim unknowingly downloads and runs a malicious file, for example one disguised as legitimate software, such as a game cheat. It can be spread through phishing links, compromised websites, malicious attachments in emails or messengers and various other methods. It targets both personal and corporate devices.

On average, every 14th infostealer infection results in stolen credit card information. Kaspersky Digital Footprint Intelligence experts found that nearly 26 million devices running Windows were infected with various types of infostealers in the past two years.

“The actual number of infected devices is even higher. Cybercriminals often leak stolen data in the form of log files months or even years after the initial infection, and compromised credentials and other information continue to surface on the dark web over time. Therefore, the more time passes, the more infections from previous years we observe. We forecast the total number of devices infected with infostealer malware in 2024 to be between 20 million and 25 million, while for 2023, the estimate ranges between 18 million and 22 million,” says Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

In 2024, Redline remained the most widespread infostealer, accounting for 34% of the total number of infections.

The most significant surge in 2024 was in infections caused by Risepro, whose share of total infections increased from 1.4% in 2023 to almost 23% in 2024. “RisePro is a growing threat. It was first discovered two years ago but seems to be gaining momentum. The stealer primarily targets banking card details, passwords and cryptocurrency wallet data, and may be spreading under the guise of key generators, cracks for various software and game mods,” explains Sergey Shcherbel. Another rapidly growing stealer is Stealc, which first appeared in 2023 and increased its share from nearly 3% to 13%.

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UTE Delivers Sri Lanka’s Largest Cat D8 Tractor to NEM Construction

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(From left to right) Deepthi Hewageegana (CEO - UTE), Mani Rajan (Director Distribution - India), Joe Moscato (Vice President - Distribution - Japan & Asia South (India & SE Asia) Caterpillar Inc), Raja Nanayakkara (Chairman / MD - NEM Construction), Prasan Fernando (Chairman - UTE), Priath Fernando - (Director - UTE), Duminda Perera (Senior General Manager - Operations)

Caterpillar equipment dealer UTE has delivered the country’s largest Cat D8 Track-Type Tractor to NEM Construction Pvt. Ltd., marking a significant milestone in heavy machinery. This delivery strengthens the long-standing partnership between UTE and NEM Construction, which spans over 45 years. The Cat D8 is expected to boost operational efficiency in large-scale projects. As the sole authorized dealer for Caterpillar in Sri Lanka, UTE continues to provide top-tier machinery and after-sales support. The handover is particularly notable as Caterpillar celebrates its 100th anniversary. NEM Construction’s Chairman, Raja Nanayakkara, praised the Cat D8’s superior performance and UTE’s unmatched service and parts support, which have been key to the company’s long-term collaboration. This purchase highlights the continued trust in both Caterpillar and UTE’s expertise in supporting Sri Lanka’s construction industry.

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ComBank’s 2023 Annual Report tops Banking sector at ACCA Sustainability Reporting Awards

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Commercial Bank Chief Operating Officer S. Prabagar and members of the senior management accepting one of the ACCA awards.

The Commercial Bank of Ceylon’s prowess in comprehensive disclosure of sustainability-related information to stakeholders has won its 2023 Annual Report two top awards at the 2025 Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).

The Bank was adjudged the overall runner-up and the winner in the Banking category at these awards, repeating the achievement of its 2022 Annual Report which was similarly honoured by the ACCA last year.

The ACCA Sustainability Reporting Awards recognise Annual Reports that clearly acknowledge and explain the economic, environmental and social impacts of the business to internal and external stakeholders, demonstrating the organisation’s policies, targets and long-term objectives towards the goal of sustainable development.

Commercial Bank’s 2023 Annual Report also won two Golds, a Silver and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2024, excelling in the key aspects recognised by the awards programme which is dedicated to Transparency, Accountability, Governance, and Sustainability – TAGS.

The Bank won the Gold for ‘Corporate Governance Disclosure’ in the Financial Services sector, the Gold for the Best Annual Report among the private sector banks, the Silver for ‘Digitally Transformative Reporting’ across all sectors, and the overall Bronze award for Excellence in Corporate Reporting.

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