Mar 06, Colombo: eZ Cash, Sri Lanka’s Largest Mobile Money platform has enabled instant access for small businesses to accept contactless and remote payments using LANKAQR.
With the Central Bank of Sri Lanka led initiative to digitize small value payments in Sri Lanka through an inter-operable, standardized LANKAQR, Dialog Axiata PLC (“Dialog”) is committed to empowering the nation with simple, easy solutions which add value to small businesses who are now able to self-register for this service through their mobile phones.
Small business and self-employed persons such as retailers, street vendors, three wheelers etc. with a Dialog mobile number can now download the eZ Cash app and use a simple registration process to sign-up for an eZ Cash Classic Wallet at no additional cost.
On using the “MyQR” feature via the eZ Cash app, they can start accepting payments from their customers using their unique LANKAQR code. Payments can be accepted from any mobile banking app or payment wallet in the country which has enabled LANKAQR transactions, and proceeds will be received instantly to their wallet.
Transactions using the LANKAQR payment network will be charged a nominal fee of 0.5% of the transaction value. Businesses are able to withdraw cash from the wallet at over 20,000 eZ Cash retailers located island wide or at any Commercial bank ATM.
Proceeds from the wallet can be used to settle over 100 utility or institutional payments to companies such as CEB, LECO, the Water Board, SLIC, AIA, Ceylinco Insurance, HNB Finance, CDB, AMW Finance etc. eZ Cash Wallet holders can also send money to an eZ Cash Wallet or pay for good and services at any retailer in the country which has enabled LANKAQR payment acceptance.
The revolutionary MyQR solution can also be used by online businesses to accept payments by posting a saved image of their LANKAQR code on their website or Facebook page. Businesses can also accept remote payments from their customers by forwarding their saved LANKAQR code via email and WhatsAapp so that customers can scan the image of the LANKAQR code and make payments through their bank’s mobile payment app which has enabled LANKAQR. Payments to the value of Rs. 10,000 per day can be accepted into an eZ Cash Classic Wallet while payments in excess of this value and up to Rs. 50,000 per day can be enabled through an eZ Cash Power Wallet. Customers can enhance their Classic eZ Cash Wallet to a Power Wallet by visiting any Dialog Customer Experience Centre or Service Centre.
Commenting on the integration of LANKAQR on the eZ Cash app, Renuka Fernando, Group Digital Services Officer of Dialog Axiata PLC said eZ Cash is pleased to bring Sri Lanka’s first in-app LANKAQR with self-registration for small businesses.
“This initiative falls in line with Dialog’s vision to enable financial inclusiveness in Sri Lanka through technology, so that we can offer micro and small businesses as well as our customers access to customized, relevant financial and payment products which will enhance and bring meaningful value to their lives and businesses.”