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India’s PhonePe unveils UPI payment in partnership with LankaPay

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LankaPay – Sri Lanka’s National Payment Network on Wednesday announced its partnership with PhonePe – one of India’s most popular fintech apps – towards accepting UPI payments at LankaQR merchant points.

The launch was graced by Indian High Commissioner Santosh Jha who highlighted the key role played by fintech connectivity in the overall connectivity between India and Sri Lanka. Addressing the gathering, Guest of Honour Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe, acknowledged the collaboration’s capacity to unlock new opportunities and enhance competitiveness and the benefits that it would bring to Sri Lankan merchants.

PhonePe International Payments CEO Ritesh Pai said: “We are thrilled to announce our partnership with LankaPay. This collaboration offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while traveling and pay across LankaQR merchant points. PhonePe has always been at the forefront of driving innovation in payments. We are incredibly proud to be driving UPI adaptation across India, and our expansion to Sri Lanka is another exciting step forward.”

LankaPay CEO Channa de Silva CEO said: “LankaPay is delighted to collaborate with PhonePe to revolutionise the cross-border payments between Sri Lanka and India. This partnership is bound to provide greater convenience to Indian tourists and business travelers in making seamless UPI payments at all LankaQR merchant points in Sri Lanka via PhonePe app. We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments. I envisage that innovation to be the cornerstone of this alliance and would lead to further strengthening of bilateral relations between the two countries.”

At the launch, de Silva also made an insightful presentation, giving a snapshot of Sri Lanka’s digital payment landscape followed by an insightful panel discussion on ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses,’ which focused on the possibilities and growth avenues for local businesses.

The session featured National Savings Bank GM/CEO Shashi Kandambi, Hatton National Bank PLC COO Sanjay Wijemanne, LOLC Finance PLC Chairman Conrad Dias, and Dialog Finance PLC Chairperson Renuka Fernando, who discussed how businesses can leverage digital payment technologies and tap into a wider market to stay competitive in an evolving economic landscape. The session was moderated by LankaPay CEO de Silva.

Following the panel discussion, PhonePe International Payments CEO Ritesh Pai unveiled insights on leveraging UPI for global markets and the growth prospects it offers for merchants.

The event also saw the presence of several key stakeholders from the Sri Lankan financial landscape, including senior representatives from banking sectors, payment system providers, and representatives from tourism sector and business associations. This alliance is facilitated through LankaPay’s partnership with NPCI International Payments Ltd. (NIPL).

During the event, PhonePe announced that its app users travelling to Sri Lanka can now make payments using UPI across LankaPayQR merchants nationwide. Users can simply scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. Their account will be debited in INR, showing the currency exchange rate. These transactions are facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network.

PhonePe Group is India’s leading fintech company. Its flagship product, the PhonePe digital payments app, was launched in Aug 2016. In just seven years, the company has scaled rapidly to become India’s leading consumer payments app with over 520 million registered users and a digital payments acceptance network of 38 million merchants. PhonePe also processes 230+ million daily transactions with an annualised Total Payment Value (TPV) of $ 1.5+ trillion.

On the back of its leadership in digital payments, PhonePe Group has expanded into financial services (Insurance, Lending, Wealth) as well as new consumer tech businesses (Pincode – hyperlocal e-commerce and Indus App Store – India’s first localised App Store). PhonePe Group is an India headquartered technology company with a portfolio of businesses aligned with the company’s vision to offer every Indian an equal opportunity to accelerate their progress by unlocking the flow of money and access to services.

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BOC records whopping Rs. 107 b pre-tax profit in 2024

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Bank of Ceylon (BOC), being the No. 01 Bank in Sri Lanka and the country’s highest rated banking brand, achieved robust financial results in 2024, demonstrating both resilience and persistence. The Bank recorded significant growth in key financial metrics, including total assets, deposits, and profitability. This exceptional performance underscores BOC’s agility and adaptability in the face of volatile market conditions and numerous challenges.

The General Manager / Chief Executive Officer, Russel Fonseka emphasized, “Our robust financial results demonstrate our strength and stability in this challenging economic climate. Looking ahead, we are committed to expanding our services, pioneering digital banking solutions, and solidifying our leadership position in Sri Lanka’s banking sector.”

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Tech startup, fluencr, aims to accelerate Sri Lanka’s digital transformation with its influencer marketplace

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fluencr, a homegrown tech startup, is shaping the country’s digital economy by enhancing influencer and business collaboration. Recognized among the top 50 at the prestigious Dialog Innovation Challenge, fluencr is on a mission to streamline business and influencer collaborations, aligning with Sri Lanka’s broader digital transformation initiatives.

In an era where influencer marketing is a key driver of brand engagement, fluencr offers a data-driven platform that enables businesses to discover, connect, and collaborate with the right influencers. The platform simplifies campaign management from start to finish, providing seamless performance analytics and ensuring instant payments through an integration with Seylan Bank’s Mastercard payment solutions.

For influencers, fluencr enhances brand discoverability, making it easier to secure collaborations while automating insight sharing and campaign workflows. The added benefit of timely payments ensures creators can focus on what they do best—creating engaging content.

fluencr isn’t just another marketplace; it’s a potential local alternative to global platforms like Fiverr and Upwork. By offering an accessible and free-to-use platform, fluencr has the power to uplift Sri Lanka’s content landscape, creating new opportunities for businesses and creators alike.

Why Now? Why Fluencr

Booming Influencer Market: Since 2019, the global influencer industry has tripled in value, reaching $21.1 billion. Sri Lanka’s share currently stands at an estimated $17.2 million, showcasing immense growth potential.

End of Third-Party Cookies: With platforms like Meta and Google phasing out third-party cookies by 2025, businesses must rethink their digital marketing strategies. fluencr provides a viable alternative, leveraging influencer partnerships for direct audience engagement.

User-Generated Content (UGC) Dominates: Research shows that 93% of marketers believe UGC outperforms traditional ads, making influencer collaborations more crucial than ever.

Rising Influencer Trust: With 63% of Gen Z preferring influencer recommendations over conventional advertising, brands need to adapt to shifting consumer behaviors.

fluencr was not just engineered in theory—it was born out of real-world challenges. The founding team, comprising professionals with experience at top Sri Lankan companies such as Dialog, Cinnamon Hotels, and Daraz, understands the struggles businesses and creators face in the digital marketing landscape. Now, they’re on a mission to solve them.

Whether you’re a business ready to harness the power of influencer marketing or a creator looking to scale, fluencr invites you to be part of Sri Lanka’s digital future: https://fluencr.io

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SriLankan Airlines unveils ‘Yaana’ the AI-powered chatbot

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SriLankan Airlines has unveiled ‘Yaana,’ an AI-powered chatbot designed to enhance customer support and streamline passenger interactions.

Developed in collaboration with CodeGen International (Pvt) Ltd., Yaana utilizes advanced AI and Natural Language Processing (NLP) technologies to provide intelligent assistance for a wide range of inquiries.

Now live on SriLankan Airlines’ corporate website, the chatbot aims to deliver faster, more efficient, and personalized support to passengers worldwide.

Chamara Perera, Group Head of Information Technology at SriLankan Airlines, commented on this latest advancement in customer engagement technology stating, “Yaana features a generative AI virtual assistant powered by GPT-4 technology and is equipped with sophisticated retrieval capabilities to enhance customer interactions and efficiently address inquiries. The system also utilises a conversational AI framework and custom AI algorithms to deliver rapid, accurate, empathetic and contextually relevant responses. By cross-referencing multiple policy documents, real-time data sets, including flight schedules, Yaana ensures that passengers receive reliable, tailored information.”

Dimuthu Tennakoon, Head of Worldwide Sales and Distribution at SriLankan Airlines, expressed his enthusiasm about Yaana’s potential, stating, “Since going live, Yaana has handled close to 12,000 inquiries with remarkable efficiency, autonomously resolving 88% of them. Furthermore, with its scalability, we anticipate Yaana will manage five times the current volume. By providing 24/7 assistance, including real-time updates during disruptions, streamlined booking guidance and personalised support for complex queries, Yaana will significantly enhance customer service every step of the way.”

The chatbot will prove especially indispensable during unplanned flight disruptions, a common occurrence in the airline industry, by assisting passengers in swiftly finding alternative travel options.

Available globally, Yaana also has multilingual capabilities, making it accessible to SriLankan Airlines’ diverse, global customer base. 

For SriLankan Airlines, an airline committed to using technological advancements to elevate the travel experience for passengers, Yaana marks a significant milestone in its digital evolution.

With this launch, SriLankan Airlines reaffirms its commitment to being one of South Asia’s most innovative and customer-focused airlines. Experience Yaana firsthand by visiting www.srilankan.com 

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