Sampath Bank leads the cause of payment technology innovations in Sri Lanka


Sampath Bank PLC was the Overall Winner receiving the highest number of awards at the LankaPay Technovation Awards 2019 held at Shangri-La on October 7. Sampath Bank MD Nanda Fernando (3rd from left), Governor of the Central Bank Dr. Indrajit Coomaraswamy (4th from left) along with senior officials of LankaPay and Sampath Bank. Pic: Jude Denzil Pathiraja

by Sanath Nanayakkare

Sampath Bank PLC made a clean sweep clinching five Gold and three Silver Awards at the LankaPay Technovation Awards 2019 held at Shangri-La Colombo on October 7.

"This was probably the highest number of awards won by a bank at a national awards ceremony This feat was achieved on the strength of the Bank's contribution in the sphere of payment technology, Sampath Bank PLC Managing Director Nanda Fernando told The Island Financial Review".

"The awards included Overall Winner for Excellence in Interbank Payments (Banking Category) – Gold. Overall winner with the highest number of awards. Bank of the Year for Excellence in Customer Convenience – Gold. Highest growth percentage compared to previous year for the electronic fund transfers through Sri Lanka Inter-bank Payment System (SLIPS), Common Electronic Fund Transfer System (CEFTS) and USD Online for sending USD payments., "he said.

 Listing out other awards the Bank won, MD Narda Fernando said," We became the Best Common ATM Acquirer of the Year – Gold. Highest acquiring volume growth per ATM compared to previous year. Most Innovative Bank of the Year – Gold. Highest aggregate payment innovations provider for Common Electronic Fund Transfer System scenarios (Credit, Debit etc.), channels availability (ATM, over the counter, Internet Banking, Mobile Application etc. including JustPay and LPOPP acquiring and transaction volumes under each channel".

 "Sampath Bank was recognized as the Best Bank for retail payments – Gold. Highest Number of interbank "JustPay" issuer transactions processed through the application during the year. As JustPay Issuer, Sampath Bank allows Sampath customers to make payments on other bank merchant applications. And Best acquirer on LankaPay Online Payment Platform (LPOPP) – Silver. Highest transaction acquiring volume through LankaPay Online Payment Platform designed for government payments such as custom payments", Fernando said.

 "It's the Best bank for Seamless Back-end Operations – Silver. Best bank with on time delivery and connectivity uptime in back-end operations of Cheque Image Truncation System (CITS), Sri Lanka Inter-bank Payment System (SLIPS), USD Online, Common ATM Switch, Common Electronic Fund Transfer System (CEFTS) and USD Draft Systems. Best Payment Application of the Year – Sampath Vishwa Retail – Silver. Highest Number of interbank transactions processed through the application Sampath Vishwa Retail," he said.

 Referring to Sampath Bank's partnering with JCB, a cards brand based in Tokyo, Japan, he said, Sampath Bank partnered with JCB with a view to bringing benefits to its debit cardholders.

"The Bank partnered with JCB for card issuing and POS acquiring. It will save a considerable amount of fees which would otherwise go out of the country to other networks. Thus debit card holders will be benefited with lower fees. In addition, JCB card comes with a lot of value additions. JCB credit cards will bring in multiple benefits which will be made available soon. Acceptance of JCB cards is already implemented on ATMs and POS will be available from 15th Oct. There is a line of channels offered by Sampath Bank which could be grabbed by customers to get a lot of convenience and value additions. For example, over 35% e-commerce  transactions are are now done through Sampath Bank", Nanda Fernando said.

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