Sri Lanka’s leading online payment gateway solution provider, WEBXPAY announced a landmark
partnership with the nation’s leading private sector bank, HNB, to introduce affordable POS
solutions to enable digital payments acceptance for Small and Medium Businesses (SMB).
As part of the ongoing Visa Acceptance Fast Track programme that WEBXPAY entered recently,
the partnership will enable WEBXPAY to increase the circulation of Point of Sale (POS) terminals to
SMBs. At present it is estimated that 96,000 POS terminals are in circulation.
Through its ongoing efforts, WEBXPAY aims to increase circulation of POS devices rapidly over the
next 5 years, with Soft POS terminals such as Tap to Phone, and other Android POS machines
expected to play a pivotal role in expanding cashless payment acceptance to SMBs.
“WEBXPAY is proud to partner with a true pioneer in tech-enabled banking – HNB – in order to
rapidly expand access to the latest generation of contactless payments to support the growth and
development of Sri Lankan SMBs. Based on global experiences we have seen that contactless
payments can increase their transactions by 4x, and encourage 2x higher spend. This can help them
attract and retain new business at a very crucial time for the SMB sector,” said Omar Sahib, Founder
& CEO, WEBXPAY.
In addition to low-cost POS machines, new solutions like Tap to Phone payments are expected to
prove a game changer for SMBs, enabling vendors to almost instantly convert any smartphone into a
payment acceptance device.
“Sri Lanka’s SMB sector serves as a backbone of our nation’s economy, accounting for the vast
majority of employment in Sri Lanka, and yet they often lack the resources, tools and expertise to
engage with digital payment solutions. HNB, WEBXPAY, and Visa are all united by a deep
commitment to leveraging the power of technology and partnerships to radically enhance the
competitiveness of SMBs, and we look forward to working in close collaboration to rollout
contactless payments and novel Solution like Tap to Phone (Soft POS), to SMBs across the island in
the coming months,” said Gauthami Niranjan, Head of Cards, HNB PLC.
Visa has long been committed to power the digitisation of small businesses in Sri Lanka. As part of
the Acceptance Fast Track program, we are delighted to enable this partnership between
WEBXPAY and HNB and further empower the SMB sector with digital payments. Through our
Cybersource platform, we will help enable card present acceptance as well as provide merchants
with the convenience of tap to phone,” said Avanthi Colombage, Country Manager, Sri Lanka and
WEBXPAY and Visa’s partnership with HNB represents the latest advancement in the Visa
Acceptance Fast Track programme, which aims to empower small businesses to begin digital
payment acceptance in a matter of seconds, thanks to new Visa solutions, onboarding processes and