LOFC’s iPay Business launches ‘Wyapara Balaganwayi’

iPay Business, powered by LOLC Finance, has launched its new business proposition, “Wyapara Balaganwayi”, bringing together accessible, technology-driven payment acceptance solutions designed to help Sri Lankan businesses of all sizes accept payments, manage transactions and build for the future.

Going beyond conventional payment acceptance, iPay Business is creating a comprehensive digital ecosystem for entrepreneurs, start-ups, SMEs and established businesses, making sophisticated payment technology simpler, more accessible and practical for everyday business needs.

At the heart of the proposition is a simple idea: businesses should be able to access the technology they need without unnecessary complexity. Through digital onboarding via the iPay Business App, merchants can access multiple payment acceptance solutions without the need for a branch visit, subject to applicable onboarding requirements.

iPay Head Kalhara Gamage said: “Wyapara Balaganwayi is about taking technology beyond payments and putting practical digital capabilities into the hands of Sri Lankan businesses. We want to make it easier for entrepreneurs to accept digital payments, understand their business and progressively access the tools they need to grow.” 

iPay Business brings together a range of payment acceptance capabilities within a single ecosystem. With Tap & Pay, merchants can turn an NFC-enabled smartphone into a payment acceptance device, allowing customers to make contactless card payments simply by tapping their cards on the merchant’s smartphone.

For businesses requiring dedicated terminals, HardPOS provides card, QR and multiple payment acceptance capabilities, together with features including transaction history, auto settlement, voids and Pay by Link.

Businesses can also accept payments through LankaQR and international payment platforms including UPI, Alipay+, WeChat Pay and UnionPay, providing greater convenience for both local customers and international visitors. 

Adding further value to smaller businesses, iPay Business offers 0% commission on local LankaQR transactions below Rs. 5,000, subject to applicable terms and conditions. For start-ups and businesses operating online, the Internet Payment Gateway (IPG) enables digital payment acceptance without monthly, annual or ongoing fixed charges, supporting businesses seeking to establish or expand their digital commerce capabilities.

LOLC Finance PLC and LOLC Technologies Ltd., Chairman and iPay Founder Conrad Dias said:  “We envisioned iPay as more than a payments platform from the outset. Our ambition has always been to build a digital business ecosystem that empowers entrepreneurs and enterprises to thrive in a rapidly evolving economy. iPay Business is a significant step towards that vision.”  “Beyond enabling seamless digital transactions, it is designed to help businesses become more intelligent, connected and data-driven. This launch represents the foundation of a much broader roadmap. Over time, iPay Business will evolve into a comprehensive business platform incorporating analytics, transaction intelligence, human resource tools, accounting and financial management capabilities, AI-driven insights, and business performance solutions that support better decision-making and sustainable growth,” Dias added.

With “Wyapara Balaganwayi”, iPay Business is positioning itself as a technology partner for Sri Lankan businesses making it easier to accept payments today, manage businesses more effectively and build towards a smarter digital tomorrow.