ComBank, DirectPay to support digital payment solutions for businesses

Tuesday 24 August 2021 14:53 CET | News

The Commercial Bank of Ceylon has partnered with Sri Lanka-based fintech startup DirectPay, according to

ComBank seeks to provide Internet Payment Gateway (IPG) support and operate as the acquiring bank for the cashless payment solutions DirectPay develops for clients. With this partnership with Commercial Bank, DirectPay aims to expand its suite of services such as fully-integrated payment Point-of-Sale devices to discover new markets and inventory management solutions with payment integration on Card and LankaQR payments for Small and Medium (SME) businesses and corporates in the country. DirectPay will also collaborate with the Bank on products such as micro lending and pay-day loans, as well as to offer its merchant clientele more efficient ways of making supply chain payments.

Further, with the backing of Commercial Bank and its expertise as a leading IPG service provider in the country, DirectPay will enhance its offerings of customised digital payment solutions for businesses in the insurance, education, and ecommerce industries that will enable them to move away from cash-on-delivery-based transactions and facilitate a host of digital payment options for the products and services offered. The introduction of these modern payment methods is aimed at providing customers with a choice of multiple payment options, the company said.

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Keywords: partnership, banks, fintech, startup, supply chain finance
Categories: Banking & Fintech
Countries: Sri Lanka
This article is part of category

Banking & Fintech