Colombo, 29th May 2024 – Responding to the increasing demand for digital payment solutions within the small and medium-sized enterprise (SME) sector, Sampath Bank is the first bank in Sri Lanka to launch a MiniPOS device, proudly announcing the innovative bespoke mini-POS solution. These innovative systems, meticulously crafted to address the unique needs of SMEs, empower businesses to streamline transactions and enhance customer experiences.
As SMEs continue to play an increasingly pivotal role in the market, Sampath Bank recognises the importance of providing affordable and user-friendly payment solution. Developed with portability, versatility, and ease of use in mind, the mini-POS solution offer SMEs a convenient avenue to accept payments from customers, thereby driving sales and revenue growth. Customers can seamlessly process transactions over multiple payment schemes such as Visa, Mastercard, China Union Pay, JCB, Lanka QR, and UPI networks is also another important feature of this handy portable device.
Shiran Kossinna, Assistant General Manager of the Card Centre at Sampath Bank, shared his insights on the initiative, stating, “At Sampath Bank, we are committed to supporting the growth and success of SMEs. Our mini-POS solution not only cater to the specific needs of this segment but also align with government efforts to modernise payment channels, ultimately fostering financial inclusion.”
In addition, Sampath Bank’s mini-POS solution offers a range of features to meet the diverse needs of businesses. These include portability, as the compact and lightweight systems are ideal for various business such as pop-up shops by entrepreneurs, grocery stores, boutiques, delivery/courier companies, event vendors, and outdoor markets, ensuring a convenient payment option wherever customers go, supporting multiple payment methods, including contactless payments (NFC), chip cards, and payments via mobile wallet (QR), thereby enhancing the overall shopping experience. Furthermore, the mini-POS systems enable faster transactions, crucial in busy environments during peak shopping times or events with high foot traffic, ensuring quick and efficient payments. Lastly, advanced security features safeguard customer data during transactions, providing peace of mind for both businesses and customers.
By offering a modern and efficient payment solution tailored for SMEs, Sampath Bank focuses on empowering these entrepreneurs. This is achieved by boosting sales through enhanced customer experience, providing a convenient payment solution, reducing checkout times, and streamlining the payment process. Additionally, Sampath Bank supports government initiatives to digitalise domestic payment channels. They aim to expand market reach by offering a portable and versatile mini-POS solution and differentiate themselves from competitors by providing a cost-effective and user-friendly system, with merchants who acquired the POS machine on or before 31st August 2024 receiving six months of free rental.
As Sampath Bank continues to pioneer advancements in digital payments, SMEs can look forward to a future of enhanced efficiency, flexibility, convenience, and growth opportunities.
