WEBXPAY partners with Visa to expand the reach of digital payments in Sri Lanka – The Island

WEBXPAY, Sri Lanka’s leading provider of online payment gateway solutions, has partnered with Visa to expand the reach of the country’s digital economy by enabling seamless, effortless and sustainable digital payment acceptance solutions for small and medium-sized enterprises (SMEs) across the island, a company press release said last week.

“This collaboration gives WEBXPAY a boost to more quickly achieve its goal of empowering SMBs across the island with face-to-face digital payment acceptance capability; providing them with access to Visa cardholders around the world. This will in turn increase the scalability of the small business sector and therefore contribute to its recovery,” he said.

“WEBXPAY, now part of the Asia-Pacific Visa Acceptance Fast Track program, hopes to expand its financial inclusion network by enabling digital payment acceptance to 10,000 digital-new Sri Lankan SMEs by 2025 ; aiming for a gross merchant volume (GMV) of LKR 10 billion by 2025 to elevate the country’s digital economy.

“This will help increase the acceptance of contactless payments through soft POS, enable payments over the phone with soft POS technology, and enable the acceptance of face-to-face transactions at low cost. In a post-COVID economy -19, it will also help merchants rebuild and increase sales to more consumers and improve customer loyalty, while providing their customers with a frictionless digital payment experience at checkout,” the statement added.

Avanthi Colombage, Country Manager – Sri Lanka and Maldives, Visa said, “Small businesses have always been eager to embrace technology to grow their business and most of the time they just need catalysts to accelerate that. Through the Visa Acceptance Fast Track program, we are delighted to partner with WEBXPAY and play a part in helping thousands of small businesses across Sri Lanka go digital. With solutions and best practices from Visa and superior payment gateway solutions from WEBXPAY, small businesses can now accept contactless payments and enable merchants to call faster and more securely on their journey to recovery.

“We appreciate the support provided by Visa to help us expand our product and social goals by reaching SMEs in Sri Lanka,” WEBXPAY Founder Omar Sahib commented on the collaboration. “Through this partnership, we are further expanding our ability to offer fast, convenient and frictionless payment processing in hopes of contributing to a greater expansion of the local digital payments ecosystem and in turn playing a role transformative in the growth of Sri Lanka’s digital economy.

Already trusted by over 2,000 businesses island-wide, WEBXPAY’s integrated platform enables merchants to get their business up and running online in just 3 business days. With affordable solutions for every size of business, merchants in return get the guarantee of a secure, cost-effective, and comprehensive digital payment solution with endless payment options on a single platform that will bring ease and mobility to their business.

Most recently, WEBXPAY signed a partnership with the Australian Department of Foreign Affairs and Trade (DFAT) with the aim of revitalizing rural economies hit by COVID-19 by dramatically expanding access to digital payments to enable SMEs of all the island to be part of the digital revolution. .

Since launching as Sri Lanka’s first online payment aggregator in 2015, from humble beginnings, WEBXPAY has become the country’s most trusted payment gateway solution provider with the most payment options for its growing portfolio of small and large companies, according to the release. .

“With a vision to grow Sri Lanka’s digital economy by introducing a visionary platform of comprehensive and centralized payment capabilities, WEBXPAY remains focused on its goal of facilitating digital transaction for SMEs across the country. This year, the company plans to expand its value proposition even further by introducing point-of-sale (POS) solutions that allow merchants to accept online and offline payments on a single platform. It said.

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