පෙබරවාරි 20, 2024

LankaPay Launches Revolutionary JustPay Web and PayMe

LankaPay – Sri Lanka’s National Payment Network adding two new vibrant solutions to their portfolio, launched ‘JustPay Web’ and ‘PayMe’ at a ceremony held on 20th February at Shangri-la Colombo. Aimed at providing a seamless payment experience for retail transactions, the two solutions are expected to transform the way people transact, work and live, adding greater convenience to their day-today life.

PayMe is an innovative and secure messaging service that generates universal payment links, allowing customers to make convenient and secure payments in real-time via any PayMe-enabled mobile or web application. It facilitates both corporate and peer-to-peer payments, offering hassle-free payment collection capability. With seamless customer journey, PayMe also provides the users with greater convenience. Due to elimination of the need to share bank credentials with third parties and with real-time payment confirmation, PayMe also assures the security of transactions. PayMe is easily adaptable to multiple scenarios from C2C, B2C, C2B, and B2B. With the ability to customize payment link expirations time and the amount, easy reconciliation process, and multiple payment options, PayMe is set to revolutionize digital payments in Sri Lanka.

In Sri Lanka currently there are over 400,000 merchants doing businesses via social media. However, many smalltime merchants find it challenging to afford an Internet Payment Gateway (IPG), due to substantial initial investment and exorbitant Merchant Commissions (MDR). JustPay Web is an alternative to IPG and is an extension of LankaPay’s groundbreaking payment product – JustPay launched in 2017. JustPay Web allows the customers to make direct payments via bank accounts on browser-based applications. With increased usability, accessibility, and security the solution offers a seamless, convenient payment option for those who make purchases on e-commerce sites. For merchants, it’s a far more affordable option with drastically low initial cost and MDR. JustPay Web is accessible across various devices, including desktops, laptops, tablets, and smartphones. JustPay Web provides a seamless and intuitive payment experience. In order to ensure security, we have embedded several stringent security features into JustPay Web. With cryptographic encryption, JustPay Web is secured using digital certificates complying with military grade security environment. Customer data is safeguarded with a unique private and public key mechanism, accessed only through a combination of multiple keys held by the merchant, acquirer bank, and LankaPay making the mechanism extremely secure. Operating in a PCI-DSS compliant environment, JustPay Web adheres to the highest international standards for data security. Additionally, LankaPay also enforces several application-level security features to ensure end to end security throughout the process.

Mr. Channa de Silva, shared statistics of Sri Lanka’s remarkable digital transformation journey prior to a detailed presentation on the two solutions. Seylan Bank, Capital Alliance Limited and Bhasha Lanka (Private) Limited were recognized during the ceremony for their pioneering efforts towards enabling payments via JustPay Web whilst Pay Master Solutions (Private) Limited and DirectPay (Private) Limited were recognized for their contribution towards enabling payments via PayMe.

The event was found to be an interesting session of intellectual dissemination with a panel discussion featuring an eminent panel of speakers including Mr. Channa de Silva – CEO of LankaPay; Mr. Dulith Herath - Founder & Chairman of Kapruka Holdings PLC; Mr. Chaminda Senevirathne - Head of Digital Banking, Seylan Bank PLC; Mr. Dhanika Perera - Founder of Helakuru, PayHere, HelaPay & Esana, CEO of Bhasha Lanka Pvt Ltd; and Mr. Ransika de Silva - Founder & CEO at Pay Master Solutions Pvt Ltd / Director at First Pay Pte Ltd, Singapore.

As Sri Lanka’s National Payment Network, LankaPay is committed to making digital payments both accessible and affordable to everyone across Sri Lanka. Since its inception in 2002, LankaPay has introduced many revolutionary digital payment products which have contributed immensely towards accelerating Sri Lanka’s digital transformation journey. Owned by the Central Bank and all licensed commercial banks in the country, LankaPay is regarded as one of Asia’s best public private partnerships.