Seylan Bank introduces real-time online payments to Customs | Sunday Observer

Seylan Bank introduces real-time online payments to Customs

Malik Wickramanayake
Malik Wickramanayake

Seylan Bank has enhanced its internet banking facilities to enable its retail and corporate customers to carry out fast, efficient real-time online transactions to the Sri Lanka Customs.

With this enactment, the Bank has eliminated the tedious payment process in the traditional payment system and offer its customers the latest automated end-to-end real-time online payment solutions. Further, the new system also offers great value for money as each online transaction made to the Sri Lanka Customs will only be charged a minimal processing fee of Rs. 50 as opposed to the traditional Cashier’s Order fee of Rs. 250.

Powered by LankaClear’s LankaPay Online Payment Platform, all payments made through Seylan’s online banking facilities will be credited directly to Sri Lanka Customs’ bank accounts in real-time using the LankaPay Common Electronic Fund Transfer Switch (CEFTS) platform.

CEFTS is a cost-effective, highly-secure electronic payment network and by partnering with CEFTS, Seylan Bank has been able to offer an unparalleled banking experience to its customers with greater convenience. Malik Wickramanayake, Deputy General Manager, Operations at Seylan Bank said, “This is part of a bigger plan at Seylan to bring in technology to empower our Retail and Corporate customers to perform banking transactions by themselves at their own convenience without having to visit a bank branch”.

He that prior to launching this payment solution importers/exporters who maintained accounts at non-State owned banks had to go through a tedious process of having to obtain a cashier’s order from their bank, take it to a branch of the two State banks and obtain another pay order with the Customs as the beneficiary.