Empowering SMEs at the grassroots, Sri Lanka’s leading private sector bank, HNB PLC, partnered Pay&Go to launch its groundbreaking POS System, offering businesses accessible and affordable payment solutions.
“We believe that technology and digital initiatives play a pivotal role in boosting SME growth and, in turn, our nation’s economic well-being. Representing over 75% of Sri Lanka’s enterprises, SMEs are the engines that drive inclusive economic growth, regional development, job creation, and poverty reduction. Equipping them with tools for sustainable growth in today’s business landscape is a must for our country’s progress, and we are proud to roll out this initiative with Pay&Go to facilitate this crucial journey,” HNB Head of Cards, Gauthami Niranjan said.
Under the first phase of the initiative, HNB together with Pay&Go will roll out the terminals to SMEs in the Western, Southern and Central provinces. Entrepreneurs will gain access to enterprise-grade advance payment acceptance solutions, including bill payments, Peer-to-Peer transactions, and QR code payments. The initiative will also enable low-cost payment acceptance and several value-added services designed to provide businesses unprecedented access to new customer segments by leveraging robust payment acceptance capabilities.
Notably, the bank will offer customers a plethora of additional services, ranging from mobile payments and utilities to internet services, insurance, television subscriptions, and online banking solutions. The comprehensive suite of services radically streamlines each SME’s ability to seamlessly transact with customers and partners, enhancing their daily operational efficiency.
MegaPay (Pvt) Ltd General Director Vardan Aslibekyan, expressing his enthusiasm about the new initiative, said: “Digital advancements are imperative for sustainable growth in today’s business landscape. The bank’s extensive SME portfolio and commitment to supporting businesses through this transformational period ensures they are the ideal partners for this initiative. We look forward to working with HNB in connecting businesses with new market segments while offering convenient payment solutions.”
MegaPay (Pvt) Ltd, operating under the brand name ‘Pay&Go’, is one of Sri Lanka’s leading providers of innovative payment processing and tech solutions for payment collections. They offer customers a quick, easy and reliable system for making financial transactions such as bill payments, P2P transfers, QR Payments and many more through their 1000+ island-wide network of self-service Kiosks, mobile applications and Android smart POS terminals.
With 254 customer centres and 800+ Self Service Machines (SSMs) nationwide, HNB is one of Sri Lanka’s largest, most technologically innovative private banks. Consolidating its legacy in sustainability, good governance and corporate excellence, HNB was crowned the Best Corporate Citizen for 2022 at the Ceylon Chamber of Commerce Best Corporate Citizen Awards. The bank further secured four additional accolades, including being ranked among the Top 10 Best Corporate Citizens and taking home the Governance category and Sustainability Champion for the Finance sector titles.
Additionally, HNB was ranked among the World’s Top 1,000 Banks list compiled by the prestigious UK-based Banker Magazine for the sixth consecutive year in 2022, in addition to being crowned the Best Retail Bank in Sri Lanka for the 13th occasion at the prestigious International Excellence in Retail Financial Services Awards 2023 hosted by the Asian Banker Magazine.