Sampath Bank, one of Sri Lanka’s most innovative banks, has become the first bank in the country to partner with Alipay, the world’s largest online and offline payment platform operated by Ant Financial Services Group.
This latest partnership will allow Sampath Bank’s local merchant partners to tap in to the multitude of incoming tourists from China and the considerable number of Chinese nationals living and working in Sri Lanka. It will also provide Chinese nationals in the country with greater convenience as they will be able to use Alipay to pay for goods and services in Sri Lanka.
“At Sampath Bank, we continue to leverage emerging technologies to transform the Sri Lankan banking landscape with innovative solutions and offer greater levels of convenience to both businesses and consumers. In line with this, we are delighted to be the first Sri Lankan bank to partner with Alipay and bring their suite of payment solutions to this market. This partnership offers the growing number of Chinese nationals visiting and residing in Sri Lanka a secure and convenient means to pay for their purchases in the island, thereby helping local merchants boost sales volumes and earn more,” said Ajith Salgado, Group Chief Information Officer (CIO), Sampath Bank PLC.
Merchants offering Alipay as a payment option in their store will receive settlements in Sri Lankan Rupees. They can integrate it into their existing point-of-sales machines or simply use the Alipay mobile app.
Commenting on this new partnership, Dr. Cherry Huang, General Manager of Alipay Cross-Border Business, South and South East Asia (SSEA) said, “China is now the second largest tourist source market for Sri Lanka. In the first ten months of 2017, more than 230,000 Chinese tourists visited the country. Alipay is an ideal payment option for Chinese travelers who seek the unique adventure and cuisine Sri Lanka has to offer. Alipay also helps to bring the seamless payment experience Chinese consumers enjoy at home to overseas destinations. We are looking forward to working with local partners to expand the local merchant network, to benefit both the local economy and Chinese tourists.”
Interblocks is the technology provider that facilitated the integration of Alipay with Sampath Bank’s systems. “We are delighted to be a part of this partnership between one of the world’s largest payment processors, Alipay, and one of Sri Lanka’s most innovative banks, Sampath Bank. Interblocks, as a pioneer payments technology provider who empowered Internet and mobile e-commerce in Sri Lanka, once again will help Sampath Bank bring Alipay to Sri Lanka, setting a standard in QR code payments, offering consumers and merchants an unmatched payment experience,” said Dinesh L. Rodrigo, Managing Director / Chief Executive Officer (CEO) of Interblocks Limited.
Established in 1987, Sampath Bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. Its unique tailor-made solutions, superior services and convenience of access have allowed Sampath Bank to further differentiate itself from the competition and stand out as the bank of choice for many in Sri Lanka.