Nepal’s largest payment system operator (PSO) has become the first firm from the industry to be certified with the Payment Card Industry Data Security Standard (PCI DSS) v4.0.1 Level 1 Certification. The certification is globally recognized as marked as the best security certificate in electronic payment security.
The recognition reflects Fonepay’s commitment to users’ data security. The company has always prioritized strong security and privacy for its customers. Likewise, it has implemented the strongest possible infrastructure to keep its user data and operations safe and secure. Also: Mobile Banking vs Internet Banking, Which One is Better?
“Security is not a one-time goal, but an ongoing commitment,” said Paras Kunwar, Chief Operating Officer, Fonepay. “Achieving PCI DSS Level 1 certification reflects our collective effort to build a robust and resilient payment infrastructure that prioritises the protection of cardholder data. We remain resolute in our commitment to setting industry benchmarks and investing in cutting-edge security technologies, assuring trust in the payment network to our participants, partners, regulators, and end users.”
The PCI Security Standards Council (PCI SSC) is responsible for maintaining the PCI DSS. Fonepay can now boast the certification to denote its emphasis on robust infrastructure for security.
Launched in 20xx, Fonepay is Nepal’s most dominant PSO with around 80% market share in electronic payment. Users scan Fonepay QR to pay for goods and services via mobile banking apps, digital wallets, etc.