OrelPay, the payment system that allows seamless and secure transactions via mobile phones, recently secured the title of Best Mobile Application for Retail Payments, winning the Silver award in this category at the Techinnovation Awards 2019. The objective of this event, which was organized by LankaClear and held at Shangri-La Colombo, was to recognize the frontrunners of payment technology innovations in Sri Lanka.
The OrelPay system allows users to link their bank accounts, credit and debit cards, as well as several other means of payment with their OrelPay account to carry out transactions by simply scanning a QR code. This stands as a reiteration of OrelPay’s commitment to innovate in the digital payment space. In addition, this groundbreaking technology uses big data analysis to identify spending patterns, allowing users to accurately pinpoint frequent vendors and limit unnecessary spending. OrelPay is also able to show users how their spending compares with other people in similar income brackets. The addition of this innovative feature allows users to make their payments in a more structured manner
As a direct result of the technological innovations present within this payment system, OrelPay has become the first and only non-service sector organization to achieve the prestigious feat of winning metal at Techinnovation Awards 2019. This stands as a true milestone; within just 8 months of entering the market, OrelPay has now become on par with industry giants who remain 100% service sector entities, serving as driving forces to the digital payments revolution in Sri Lanka
LankaPay’s Technnovation Awards is Sri Lanka’s first and the only annual payment technology innovation awards organized for the third consecutive year in 2019. These awards support entities who are steadfast to the cause of promoting electronic payments, while constantly striving to enhance customer convenience.
As OrelPay is a subsidiary of OREL Corporation, the parent company behind Orange Electric, users can expect the same strife for innovation and technology that is present within their group. This goes hand in hand with the rapid technological advancements and emergence of a new generation of influencers who grew up with technology and this award portrays that OrelPay is well on their way to dominating this space. As an entity that looks forward to the changes that the future will bring, they have a keen understanding of the tremendous pressure that established business models are coming under to remain pertinent in this digital era. As a result, OrelPay will further their commitment to establishing a cashless future.