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July 30, 2018

Mastercard launches payment acceptance platform in Sri Lanka

Mastercard has launched its Simplify Commerce platform in Sri Lanka to allow simple, easy and secure acceptance of electronic payments from any brand.

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  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
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  • Regulations
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A part of Mastercard Payment Gateway Services, Simplify Commerce can be used by acquiring banks, non-banking financial institutions and small-to-midsize merchants.

It can be used with the Simplify virtual terminal to accept online, in-app and in person payments.

The platform is said to feature various payments and business management capabilities required to simplify backend processes and allow retailers to focus on their core business functions.

Merchants can additionally utilise the platform to develop their own web store and sell products on e-commerce as well as social media channels.

Simplify Commerce further enables issuance of branded e-invoices, which can be managed from a central dashboard, and tracking of payment activity in real-time.

Mastercard country manager for Sri Lanka and Maldives Santosh Kumar said: “In our continuous support to the country’s ongoing efforts for adoption of cashless payments, we seek to simplify access to digital payments for businesses and consumers through this fast, secure, convenient and cost-effective solution.”

The company has partnered with banks and other stakeholders in Sri Lanka to utilise the platform for connecting businesses with the customer base interested in shopping online.

Kumar added: “The initial response from our local customers and partners has been very encouraging. We are working together on integrating it into their existing systems.

“We look forward to more merchants and consumers availing the convenience and security of digital payments through our solutions such as Simplify Commerce.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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