- Select PAYable merchants to accept Ceylinco VIP third party insurance payments
- Credit and debit card payments enabled on renewals and new policies
Ceylinco VIP third party customers are set to gain access to a new level of convenience enabled by an unprecedented partnership between Sri Lanka’s premier general insurance provider, Ceylinco General Insurance, and pioneering mobile commerce platform, PAYable.
Through the new agreement, select PAYable merchants will be converted into Ceylinco VIP third party insurance issuers, enabling customers to make credit and debit card payments on any of their third party insurance services – from purchasing insurance to settling premiums –conveniently and reliably.
“At Ceylinco General Insurance, customer convenience is key to us and through our partnership with PAYable, the general public and Ceylinco VIP third party customers could make use of a wider network from which they could access our third party products.”
“Additionally, we are able to support small and medium businesses across the island, providing them with access to new lines of revenue, and potentially new business. This type of partnership and the value it brings is unprecedented in Sri Lanka and we look forward to leveraging on this relationship to provide a matchless service to our VIP customers,” Mr. Patrick Alwis, Managing Director/CEO, Ceylinco General Insurance, said.
Notably, insurance will be offered primarily to motorbikes, hand tractors and trishaws, with special branding being deployed at PAYable merchants selected for the programme.
“Since PAYable was first conceived, our platform has been primarily focused on laying the foundation for a vibrant cashless payments ecosystem, capable of sparking a digital revolution among Sri Lanka’s small and medium businesses across the country. These types of enterprises form the backbone of our economy – and our partnership with Ceylinco General Insurance paves the way for increased business to our best PAYable vendors, while providing the public with a new paradigm in convenience.
“Moreover, we are primarily rolling out this option for owners of vehicles most utilized by customers with similar demographics as our vendors, which creates virtuous cycles at the grassroots of our economy. Such strategies are vital to the continuing prosperity of our domestic economy,” PAYable CEO, Yohan Wijesiriwardane said.
PAYable is comprised of a mobile app paired with a Bluetooth card reader, enabling merchants to accept credit and debit card payments from their customers. A highly reliable, durable and compact card reader, PAYable can be paired with any Android or iOS smart phone or tablet to effectively convert it into a secure, flexible and simple-to-use mPOS solution.
Having enjoyed a rapid and highly successful roll out across a diverse cross-section of Micro, Small and Medium Enterprises (MSMEs) and entrepreneurs, PAYable has since gone beyond mainstream – not only becoming the preferred choice among leading players in Sri Lanka’s highly competitive banking industry, but expanding its presence into Bangladesh and Singapore as well.
Since its launch, the platform has facilitated transactions in excess of Rs. 4.5 billion across 22,000 merchant partners in addition to forming groundbreaking partnerships with several of Sri Lanka‘s leading banks.
PAYable uses the industry’s best-in-class security protocols, such as the PA-DSS Guidelines, a global security standard developed by VISA, MasterCard, and other major card providers. It operates within a secure network that is comprehensively monitored and pressure-tested to maintain the highest standards of security for transaction and cardholder data protection.
Currently, Ceylinco General Insurance maintains the country’s largest branch network for General Insurance, while also maintaining a 24-hour Call Centre for the benefit of its customers. ‘Ceylinco VIP Rest Spots’, located throughout the nations’ main highways, give customers an opportunity to rest on long journeys. Given its tremendous popularity, Ceylinco VIP On The Spot has time and again, been hailed by the regional and global insurance fraternity.