Seylan Bank introduces real-time online payments to Sri Lanka Customs

Friday, 9 March 2018 00:00 - - {{hitsCtrl.values.hits}}

Strengthening its drive to offer seamless digital banking solutions, Seylan Bank has enhanced its internet banking facilities to enable its retail and corporate customers to carry out fast, efficient real-time online transactions to the Sri Lankan Customs.

With this enactment, the bank has eliminated the tedious payment process in the traditional payment system and offer its customers the latest automated end-to-end real-time online payment solutions.

Further, the new system also offers great value for money as each online transaction made to the Sri Lanka Customs will only be charged a minimal processing fee of Rs. 50 as opposed to the traditional cashier’s order fee of Rs. 250.

Powered by LankaClear’s LankaPay Online Payment Platform, all payments made through Seylan’s online banking facilities will be credited directly to Sri Lanka Customs’ bank accounts in real-time using the LankaPay Common Electronic Fund Transfer Switch (CEFTS) platform.

CEFTS is a cost-effective, highly-secure electronic payment network and by partnering with CEFTS, Seylan Bank has been able to offer an unparalleled banking experience to its customers with greater convenience.

Commenting on the initiative,

Seylan Bank Deputy General Manager, Operations Malik Wickramanayake said: “This is part of a bigger plan at Seylan to bring in technology to empower our Retail and Corporate customers to perform banking transactions by themselves at their own convenience without having to visit a bank branch.”

Wickramanayake went onto say that prior to launching this payment solution importers and exporters who maintained accounts at non-State-owned banks had to go through a tedious process of having to obtain a cashier’s order from their bank, take it to a branch of the two state banks and obtain another pay order with Sri Lanka Customs as the beneficiary.

Seylan Bank has also incorporated latest security updates to ensure that all digital transactions are highly secure and reliable. As a part of its digitalisation drive, Seylan Bank is continually evolving with latest technology to transform the traditional payment systems and make a change in the banking industry.