Monet Achieves PCI DSS Version 3.1 Certification

Monet Private Limited has recently achieved the highest PCI DSS security certification, version 3.1, and is now amongst the handful of companies worldwide that have secured this accreditation.

​Monet (Private) Limited, Pakistan’s first independent and neutral mobile financial services hub, announced today that it has successfully secured the PCI DSS 3.1 accreditation. Certified by the leading, globally recognized QSA Company, Risk Associates, Monet is now amongst the few, handful of companies worldwide that have achieved this latest security certification.

The PCI DSS certification is a set of comprehensive requirements for enhancing payment account data security developed by the PCI Security Standards Council. The certification focuses on data security measures on payment transaction routing, storing and processing to protect cardholder’s data. Leveraging upon the PCI DSS certification, Monet has the ability to offer its customers – banks and merchants – with the highest level of security available in the market. Monet’s compliance with global certifications provides an opportunity to offer payment services along with value-added features on a global scale and in a secured environment.

Speaking on the occasion Dr. Aftab Rizvi, CEO of Risk Associates said: "Compliance with latest security standards and certification demonstrates the commitment of a company to keep the customers information and data secure at the highest level. Achieving PCI DSS v3.1 certification is a major milestone for Monet and is a critical component of its comprehensive and transparent leadership effort to protect the businesses."

Ali Abbas Sikander, CEO of Monet added: “Securing the PCI DSS certification further strengthens Monet’s position as a payment services provider. This certification gives us the opportunity of providing our customers with cost-effective payment solutions, ranging from terminals to managed payment services, addressing PCI DSS standards with the highest level of security requirements."

Monet is one of the fastest growing payment facilitator and mobile financial services provider in Pakistan with solutions ranging from Card / Mobile Wallet Issuance, Mobile Point of Sale Acceptance, Payment Gateway, Utility Bill Payments, Merchant Payments and Mobile Banking. We have a highly capable team of payment technology experts servicing the electronic and mobile commerce ready segments as well as the unbanked and underserved population in Pakistan by introducing new and innovative product offerings in various industry verticals, such as Banking, Telecommunication, Insurance, Cash-on-Delivery (COD), Transport, Courier services, Health Services and Government Payments (P2G & G2P).

About Risk Associates:

Risk Associates (RA) roots are firmly embedded in Australia’s information technology community and widen globally by strategically located offices around the world. Having accumulated a wealth of experience over the years, RA specialize in Risk Management, Information Governance, Compliance Programs, and Information Security. RA clients consist of government, financial, hospitality, education, telecommunication and sporting /online gaming industry around the world.

Risk Associates is considered to be the pioneer in bringing PCI DSS certification concept for the first time in Pakistan and the company stands as a strong knowledge-base for all aspects of information security.

About Monet Private Limited

Monet (Private) Limited is a Cards and Payment services provider in Mobile, Branchless and Alternate Banking domain, working with a vision to digitize payments in the cash based economies.  We operate from Karachi, Pakistan, as a completely hosted payment processor, having our own systems and infrastructure hosted and operated at our Data Centre(s) to serve the banks, FIs and merchants by furnishing their payment automation and transaction processing needs.