WEBXPAY partners with Visa to expand scope of digital payments in Sri Lanka

WEBXPAY, Sri Lanka’s leading online payment gateway solution provider, has entered into a partnership with Visa to expand the scope of the country’s digital economy by enabling seamless, effortless, and sustainable digital payment acceptance solutions for small and medium businesses (SMBs) across the island. This collaboration provides WEBXPAY a boost to faster achieve its goal of empowering SMBs island-wide with face-to-face digital payment acceptance capability; offering them access to Visa cardholders across the globe. This in turn will increase scalability for the small business sector and consequently aid its recovery.

WEBXPAY, now a part of the Visa Acceptance Fast Track Program for Asia Pacific, hopes to widen its net of financial inclusion by enabling digital payment acceptance to 10,000 new-to-digital Sri Lankan SMBs by 2025; aiming for a Gross Merchant Volume (GMV) of LKR 10 billion [BU1] by 2025 to elevate the country’s digital economy. This will help increase contactless payments acceptance through soft POS, enable tap to phone payments with soft POS technology and bring about low-cost face to face transaction acceptance. In a post COVID-19 economy, this will also help merchants rebuild and increase sales to more consumers and improve customer loyalty; all while offering their shoppers a friction-free digital payment experience at checkout.

Avanthi Colombage, Country Manager – Sri Lanka and Maldives, Visa said, “Small businesses have always been keen to adopt technology to further their business and most times, only need enablers to accelerate this. Through the Visa Acceptance Fast Track Program, we are excited to partner with WEBXPAY and play a role in helping thousands of small businesses across Sri Lanka go digital. With Visa’s solutions and best practices and WEBXPAY’s superior payment gateway solutions, small businesses can now accept contactless payments and enable tap to phone for merchants quicker and in a secure manner, in their path to recovery.”

“We appreciate the support extended by Visa to help expand our products and social goals in reaching out to the SMBs in Sri Lanka,” commented Founder of WEBXPAY, Omar Sahib, on the collaboration. “Through this partnership we are further extending our ability to offer fast, convenient and frictionless payments processing in the hope that we contribute towards greater expansion of the local digital payments’ ecosystem, and in turn play a transformative role in the growth of the digital economy of Sri Lanka.”

Already trusted by over 2000 businesses island-wide, WEBXPAY’s integrated platform allows merchants to set up their online business within just 3 business days. With affordable solutions for every business size, merchants get in return the guarantee of a secure, cost-effective, and comprehensive digital payment solution with endless payment options in one platform that will bring ease and mobility to their business.

More recently WEBXPAY inked a partnership the Australian Government’s Department of foreign affairs and Trade (DFAT) in a bid to revitalise COVID-19 hit rural economies by significantly expanding access to digital payments to empower SMB’s across the Island to be a part of the digital revolution.

Ever since its launch as Sri Lanka’s first online payment aggregator in 2015, from humble beginnings WEBXPAY has grown to become the country’s most trusted payment gateway solutions provider with the largest number of payment options for its growing portfolio of small and large businesses. With a vision to grow the digital economy of Sri Lanka by introducing a visionary platform of comprehensive and centralized payment capabilities, WEBXPAY remains focused on its goal of enabling ease of digital transaction for SMBs across the country. This year the company is looking at expanding its value proposition even further by introducing Point of Sales (POS) solutions for merchants to accept both online and offline payments in one platform.