The world today is led by the internet and mobile computing technologies. The rise in the use of the internet has, in turn, driven the eCommerce industry across the globe to greater heights, establishing new benchmarks in terms of customer engagement and revenue. A successful eCommerce website relies on a number of factors but the most important aspect is, perhaps, an efficient payment gateway for smooth transactions. A payment gateway is a crucial necessity to enable secure payment authorization for your eCommerce site.
To boost your conversion rates and increase sales on your eCommerce website, you need to have proper integration of a payment gateway with your eCommerce store. Without a payment gateway integration, it’s inevitable your sales will decrease because customers will only have one option of paying for goods, which is usually cash on delivery. There are many customers who don’t prefer this method and instead, prefer to pay online with their debit cards, credit cards, online wallets, or net banking.
There are various options for a payment gateway in Sri Lanka for you to choose from. Finding the best one will depend on numerous factors- from location and budget to customization options and website integration. To ease the process for you, here are some of the best payment gateways in Sri Lanka for your eCommerce website:
Sampath Bank is the primary Internet Payment Gateway provider to offer a payment gateway to accept the Sri Lankan Rupee on the Internet. Currently, the Sampath Bank’s Payment Gateway is used by the majority of SMEs and the larger businesses to process their online transactions safely. With solid experience, Sampath Bank also gives the assurance that all communications routed through the gateway are fully protected with the uppermost international standards of security with SSL (Secure Socket Layer) 128-bit encryption certification gained from prominent Verisign Inc., USA.
The Seylan Bank Internet Payment Gateway collaborates with VISA and MasterCard for card payments. The bank then gathers funds from traders and obtains card authorization from the issuing bank. As and when VISA/MasterCard reconciles the money to the bank, it will be credited to the merchant’s account.
With drastic improvements by Commercial Bank to its Internet Payment Gateway, the bank now offers new functionality for SMEs, with integrated and safe eCommerce and mCommerce solutions to their customers. Commercial Bank is the only bank in Sri Lanka that has an Internet Payment Gateway function presented by MiGS (MasterCard Internet Gateway System). The ComBank Payment Gateway is now equipped with various features that help SME-type transactions, minus the hassle of high costs of current eCommerce structures.
With HNB Internet Payment Gateway, you will have the chance to fully realize the possibilities of your eCommerce business. Boasting state-of-the-art technology, HNB’s payment gateway helps you boost your sales by reaching your target market with unified channels in real-time, eliminating extra expenses. HNB’s payment gateway accepts any local or international debit, credit, Visa and MasterCard payments via safer transaction channels. Repayments are provided straight away, with 24/7 customer service.
Considered as Sri Lanka’s first Central Bank Approved Payment Gateway, PayHere allows SMEs to accept payments both locally and globally. The payment gateway supports multiple currencies but you need to have a Sampath Bank Current Account to get your PayHere account set up.
Within the first three months, WEBXPAY started serving 100 customers. Now, with three years under their belt, they currently serve 1000+ business owners in Sri Lanka. Considered as the biggest payment gateway SaaS-based company in Sri Lanka for SMEs, WebXPay also offers the most available payment options available in Sri Lanka.
A FinTech startup that was founded in 2017, DirectPay supports all types of banks in Sri Lanka and also offers a safe and convenient internet payment gateway.
This payment gateway is an all-in-one monetization platform that allows eCommerce websites to quickly grow internationally as well as enhance recurring revenue streams across channels, by simplifying the back-end difficulties that present day digital business creates.
Sri Lanka’s first PCI-DSS specialized payment app, Genie is a digital wallet that allows you to save your Credit/Debit cards, Current/Savings accounts and your eZ Cash wallet in one single app on your smart devices. eCommerce websites can connect to Genie as one of the payment gateway options on their online portal.
We’re all very much aware of the rise of eCommerce businesses in Sri Lanka, so now is a good time to start your eCommerce journey. Choose from the above mentioned payment gateways in Sri Lanka to run a successful eCommerce business.