Colombo, 28 June 2024 – Seylan Bank collaborates with Kapruka.com, one of Sri Lanka’s largest e-commerce platforms. The collaboration allows Kapruka to accept payments directly from a bank account. The venture opens the platform’s usage to millions of Sri Lankans, enabling them to access Kapruka’s extensive collection of merchandise. This decision elevates Kapruka’s ability to meet the needs of their growing online customer base.
Seylan Bank’s Open API stack allows Kapruka customers to enjoy an improved, user-friendly payment experience. Prior to the arrangement, customers were unable to use their bank accounts, and had either to opt for Cash on Delivery or Fund Transfer, which both holds inherent risks and inconvenience. The new payment feature offers customers the opportunity to make direct payments using their bank accounts in real-time. This removes the necessity of credit or debit cards, a transformative move that unlocks segment of customers who were unable to participate in online transactions as they were not carded. It redefines how merchants and customers interact with each other.
Kapruka’s CEO, Dulith V. Herath is enthusiastic about the innovation’s ability to expand its customer base. This new milestone will make it easier for Kapruka to onboard a larger client base. As such, they are now free to intensify their focus on local markets.
Seylan Bank’s Head of Digital Banking, Chaminda Senewiratne, affirmed that enabling Open API banking services for Kapruka will allow a boom in hitherto unseen e-commerce activity. He also commented that Seylan Bank is now expressing immense support for all partners across the board, big and small, in a bid to enable safe and efficient local payments through these services.
Additionally, Seylan Bank’s Chief Information Officer, Harsha Wanigatunga, added, “At Seylan, we focus on security first, while ensuring customer convenience and ease of integration. We have a well-layered and architected IT ecosystem to facilitate this. Consequently, the collaboration with Kapruka swiftly fell into place, enabling the integration of heightened security to facilitate payment for their customers.”
The technology is facilitated by JustPayWeb, a service provided by LankaPay, the National Payment Platform provider. As an extension, JustPay is predominantly a mobile app service which empowers merchants, enabling their customers to make purchases and payments through their bank accounts.
For more information on Seylan Bank’s collaboration with Kapruka, interested parties are encouraged to reach Seylan Bank at 0112 00 88 88 and the kapruka.lk website.
