Thu, 09 September 2010  11:29:32
Moving Payments
03 Jun, 2008 09:43:55
Sri Lanka Seylan-Dialog link for mobile commerce
June 03, 2008 (LBO) - Sri Lanka's Seylan Bank has tied up with Dialog Telekom to start mobile payments with small transactions, which will bring electronic payments within the reach of a wider customer group, officials said.
"With this link using the telephone and the credit cards, I can see vast horizons open to us within and beyond the borders of Sri Lanka," Ceylinco group chief Lalith Kothelawala said.

The 'easy pay' method lets customers carry out transactions such as paying for products at supermarkets through their mobile phone.

The over 75 percent mobile penetration in the island and lesser transaction cost will help the system to grow even among the lower income groups, Dialog said.

The system binds the customer's SIM card from Dialog Telekom to a Seylan Bank credit card.

At the point of payment or transfer, the customer and merchant both validate the transaction through the bank using the Personal Identification Number (PIN) and proceeds with the payment.

"In the world today there aren’t many such applications available and there are few countries where mobile payments and commerce are popular and growing," Dialog Telekom chief Hans Wijayasuriya said.

"But I think Sri Lanka has the first end-to-end complete secure solution in the form of 'easy pay'."

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