Mastercard’s “Access Unlocked” summit explores low-cost digital payment solutions for SMEs

Friday, 16 May 2025 04:37 - - {{hitsCtrl.values.hits}}

From left: Mastercard Country Manager – Sri Lanka and Maldives Sandun Hapugoda, Vice President Sandeep Sirdesai, Central Bank of Sri Lanka Deputy Governor J. Karunaratne, Chief Adviser to the President on Digital Economy Dr. Hans Wijayasuriya, and LankaPay CEO Channa de Silva

Industry leaders and policymakers collaborate to discuss ways to enhance digital payment acceptance among small businesses in Sri Lanka and Maldives

Mastercard recently hosted the “Access Unlocked: Digital Payments for Every Business with Low-cost Acceptance for a High-impact Economy” summit, bringing together industry leaders, policymakers, and financial experts for a dialogue on tackling challenges in expanding digital payment acceptance among small and medium enterprises (SMEs) in Sri Lanka and the Maldives.

Senior representatives from the Central Bank of Sri Lanka, Lanka Pay, leading banks in Sri Lanka and the Maldives, Sri Lanka Tourism Development Authority, Clean Sri Lanka, and other payment facilitators participated in the event. They collaborated to explore innovative, low-cost solutions for expanding digital payment acceptance, with a special focus on empowering SMEs.

The event featured thought-provoking panel discussions and presentations from industry leaders, including representatives from the Central Bank of Sri Lanka. Three main discussion tracks included:

Empowering SMEs through low-cost digital payments acceptance: Driving inclusive growth and economic resilience

From barriers to bridges: Unlocking low-cost digital payment acceptance for SMEs in developing economies

Simplifying payments, amplifying tourism: How digital acceptance fuels economic opportunity

Acceptance solutions providers demonstrated innovative technologies at dedicated product booths, showcasing a range of practical, low-cost payment solutions designed to address market challenges and accelerate digital adoption across businesses of all sizes. These included soundbox solutions, soft POS applications, and merchant onboarding and social commerce platforms.

Mastercard Country Manager – Sri Lanka and Maldives Sandun Hapugoda said: “This event marks an important step towards creating an economy where every business, regardless of size and sector, can participate in the digital payments ecosystem. By focusing on low-cost acceptance solutions to help small businesses keep pace with growing digitisation, Mastercard is committed to address this significant barrier to digital financial inclusion in Sri Lanka and the Maldives.”

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