Paycorp signs new BoI deal for new KPO project

Friday, 15 March 2013 00:01 -     - {{hitsCtrl.values.hits}}

An agreement was signed between the Board of Investment and Paycorp Payment Solutions, a leading provider of enterprise payment processing solutions to financial institutions, corporate and industry specific vertical markets, to operate a Knowledge Processing Outsourcing (KPO) in Sri Lanka under the name of Paycorp International.

The new KPO, which requires high domain knowledge and complex processes, has cited the Sri Lankan culture and qualified talent pool as major factors that make the country best suited for the next generation global KPO processes. This project is an investment of US$ 4.40 million and will provide 100 employment opportunities.

“Culturally and educationally, Sri Lanka has always been suited for the delivery of global back office support services,” said John Caliguri, Director and Chairman of Paycorp Payment Solutions in Australia and the newly formed Sri Lankan KPO – Paycorp International Private Limited. “Paycorp International is also highly excited to establish high-in-demand payment processing and competency centers for larger global companies with Asian presence.” In the next few months, the company will invest in infrastructure for its new site, training of people and other operational tools.

Mazeen Farook, Managing Director of Paycorp International, said that Paycorp will only come into the country now because they believe Sri Lankan graduates can achieve complex IT KPO processes and have the required technical capabilities to support the operation. “Sri Lanka has already gained considerable advantages and the people are quite ready to be trained for complex programs,” he said. The local centre will be involved in assisting clients in high domain knowledge processes and complex services such as banking and finance, Government and other industry verticals.

As a leading provider of integrated payments solutions in the Australasian region, Paycorp has established a proven record for implementing robust and reliable solutions, which assist clients to reduce costs, streamline operational efficiencies and increasing cash flow. The opportunity for Sri Lankan business to have a cost effective, local, online transactional processor will inevitably accelerate the opportunities for improved services.