Entrepreneurs need to know about Sri Lankan payment gateway options them online. In today’s cashless transaction space, being able to receive and make digital payments is vital for every business to grow and make its presence felt online.
Given the market restrictions and financial issues, entrepreneurs need to know about making the optimal use of online payments available to Sri Lankans.
As the online knowledge hub for Sri Lankan entrepreneurs, www.vyapara.lk is pleased to share insights into currently available, locally generated payment gateways that can support your online business.
Knowing about the several online payment gateway options available can give your business the cutting edge payment solutions you need to ensure your payments are easily received without the hassle of ensuring physical payments. Remember that online payments can be made easily and swiftly and must be managed in real time for optimum results.
Launched in 2017 under the aegis of the Central Bank, LankaPay Online Payment Platform (LPOPP) allows users to make online payments to organizations that are connected to the platform by transferring money directly from their current or savings account to the account of the relevant party.
Credited in real-time, 24 hours a day, seven days a week, 365 days a year, due to the LankaPay Common Electronic Fund Transfer Switch (CEFTS). The LPOPP system provides real-time payment confirmation details to its participants, as well as relevant reports and other information that is mutually agreed upon for reconciliation purposes.
LPOPP was first installed by Sri Lanka Customs, followed by the Board of Investments, the Sri Lanka Port Authority, and the Inland Revenue Department. Customers.
As Sri Lanka’s first Multi Channel Internet Payment Gateway (PIG) approved by Central Bank and launched in association with Sampath Bank, PayHere brings no set up fees and is structured at affordable levels, making it a great boon for Sri Lankan entrepreneurs.
PayHere has also since expanded their services and introduced HelaPay, which enables mobile payment solutions seamlessly.The Innovative Payment Solutions includes several mechanisms that provide an easy and a connected payment solution that can power small businesses.
Introduced by SDB, this platform allows customers seamless linking through bank accounts and credit/debit cards. It provides for easy cashless transactions with minimum effort. The payment gateway can be used to pay for utilities and other related services.
Recognized as the first online payment aggregator / payment gateway to be introduced to Sri Lanka in 2015, this platform pioneered the online transactions in the island. Working with the Australian Government’s Department of Foreign Affairs and Trade to empower small businesses with digital payments, it is actively present in the online payment space in Sri Lanka.
Webxpay is known as the first payment gateway to offer integrated solutions, allowing merchants to create invoices and payment links using a dedicated payment gateway merchant interface.
Knowing about different payment gateways can help you choose the right one for your business needs. Keep in mind that the nature of your business, the frequency of payments and your customer – ensuring that they have access to easy and efficient payment processes.