Seylan Bank Partners with PayHere to Empower Sri Lankan Businesses with Online Payments

July 20, 2021 at 1:20 PM

Seylan Bank, the Bank with a Heart has joined hands with PayHere, Sri Lanka’s preferred payment gateway service; to empower Sri Lankan small businesses with online payments. This strategic partnership allows the new merchants to join PayHere with any local bank account.

Seylan Bank has long been a pioneer of digital banking in Sri Lanka, providing a wide array of products and services for individuals and enterprises. PayHere is a Fintech solutions provider which enables businesses and organizations to accept online payments from customers through multiple payment methods. The strategic partnership with Seylan Bank removes the bottleneck PayHere merchants had of needing to have a specific bank’s account, by enabling the use of their preferred business bank account to start accepting online payments via PayHere.

Seylan Bank contributed towards the growth of the PayHere merchant base, by mobilizing over 300 merchants to date. This partnership with Seylan Bank has strengthened PayHere’s journey to realise its vision to digitize payments of every Sri Lankan business.

New businesses can join PayHere through its online application process and obtain all the services through a single service provider, instead of integrating with multiple payment services from a variety of service providers. The PayHere platform is built on a Central Bank approved payment and merchant acquiring model, and the strategic partnership with Seylan Bank further enhances the bank-backed security standards as well.

Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class services. The Bank has a growing clientele of SMEs, Retail and Corporate Customers, and has expanded its footprint with 172 branches, 70 Cash Deposit Machines, 86 Cheque Deposit Machines and an ATM network of 216 units across the country. Seylan Bank has been endorsed as a financially stable organization with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised to ‘A’ (lka). The bank was ranked second among public listed companies for transparency in corporate reporting by Transparency Global and is now part of the S&P Dow Jones SL 20 Index. These achievements are a testament to Seylan Bank’s financial stability and unwavering dedication to ensuring excellence across all aspects.