Companies in Sri Lanka are finally embracing online payment gateways and digital banking solutions. The fintech industry in Sri Lanka is making a big push in 2021 to help businesses sell online and overcome slow and painful banking. loanme.lk is fast becoming one of the most popular fintech companies in Sri Lanka. In comparison to traditional financial service providers such as banks, loanme.lk use super-advanced technology to assess eligibility and connect our clients with suitable loans. Using the latest tech, we offer faster decision making that can give our clients access to funds as fast as 48 hours.
In this week’s latest finance blog we take a look at the top Sri Lankan Fintech companies who are helping local businesses overcome COVID restrictions and streamline their operations in 2021.
Fintech Payment System Major Players in Sri Lanka for 2021
Companies in Sri Lanka are finally embracing online payment gateways and digital banking solutions. The fintech industry in Sri Lanka is making a big push in 2021 to help businesses sell online and overcome slow and painful banking. In this article we take a look at the top Sri Lankan Fintech companies who are helping local businesses overcome COVID restrictions and streamline their operations in 2021.
Which Fintech companies in Sri Lanka provide the best payment gateway systems?
PayHere provides layers of reliable security by partnering with Sampath Bank PLC with Central Bank approval. All major credit cards, mobile wallets and internet banking systems are approved by PayHere as the only permitted Payment Gateway. You can take the hassle out of receiving payments when you use PayHere by letting your customers pay in their chosen payment form. With out-of-the-box eCommerce plugins and well documented and streamlined APIs and SDKs, PayHere also makes it simple for you to incorporate payments into your website.
Webxpay was one of the first Fintech companies to launch integrated payment gateway solutions that allowed merchants to generate invoices and create payment links through their dedicated Webxpay payment gateway merchant portal. Webxpay has helped many start-ups get their business off the ground with around the clock support and ease of access. Webxpay is connected to multiple international payment brands and to local payment brands. Webxpay has partnered with HNB PLC to launch an integrated e-commerce platform to allow small and medium-sized enterprises to adapt to e-commerce in Sri Lanka. This is ideally placed to enable a revolution in cashless payments in Sri Lanka.
DirectPay is a fintech start-up in the Sri Lankan finance and telecommunications sector and has been delivering in-class overall software solutions for banks and other institutions. They are set to become the preferred medium for individuals and companies to access government services as digital transactions are becoming quicker, more convenient and safer. DirectPay enables eLocal government services to be charged in two separate ways, offering millions of Sri Lankans digital payment opportunities. People who want to pay via the DirectPay app can simply use their mobile phone to log in to the app and pay for the chosen eLocal government service.
DirectPay is a PayMedia spin-off that has been involved in the Fin-Tech industry by disrupting Sri Lanka’s traditional banking system. DirectPay, the award-winning Gold product, is an electronic payment method that offers a feasible alternative to cash and POS systems. With its modular based and service-oriented software architecture, it offers an entire infrastructure to facilitate payment requirements. PayMedia has entered the digital age by modifying traditional methods of everyday transactions in the payment sector with the launch of the DirectPay solution. In addition, PayMedia has been able to reduce the costs incurred by banks and giving convenience to end users through innovation.
In order to expand financial inclusivity in developing economies, iPay operates on comparatively low mobile device prices. One of the main problems facing such economies is that access to banking services is only open to a limited population in urban areas. The simplified nature of iPay allows this segment to be part of the banking system. iPay also enables the complete ‘digitalisation’ of merchants, with just a smartphone and an internet connection. This allows merchants to become part of a growing digital economy, as well as enabling other digital ‘strategies’ such as marketing campaigns to improve stock control and management, aiding merchants dealing with perishable goods.
Getsolobyhnb is a digital wallet and payment app launched by the Hatton National Bank. Solo aims to empower users with maximum independence in digital payments, allowing full flexibility to manage any transaction wherever it is bought from an existing retail franchise or even a small boutique. The simplicity and versatility of not being limited by time makes it easier for customers to easily complete transactions from any location. The Solo eWallet provides the option of cashless and digitally activated payments with the swipe of a screen.