PayMaster goes for disruptive innovation | Sunday Observer

PayMaster goes for disruptive innovation

The PayMaster team. Pic: Chaminda Niroshana
The PayMaster team. Pic: Chaminda Niroshana

PayMaster Solutions (Pvt) Ltd. – Sri Lanka, unveiled its flagship development, the PayMaster app in Colombo recently.

The app aims to revolutionise the way Sri Lankans transact when topping-up their mobile reloads and paying bills.

As the island moves towards a cashless society, the PayMaster app will lessen the burden on the financial system by making it more seamless and efficient, a company spokesman said.

The app in English, Sinhala and Tamil Languages will empower people, giving them the methods and means to transact in a way that saves time and money.

“After hard work by our team, we are thrilled to launch the app in Sri Lanka right on schedule. The app’s customer-focused design gives users more options, greater ease of use and complete security. The app’s high level of transparency safeguards users, and their information, and ensures there are no hidden charges. It also provides an interface that is simple to use and is accessible to everyone.” Director and Co-Founder of PayMaster,” Ransika de Silva said.

Director and Co-Founder of PayMaster, Lasitha Ranaweeera, is optimistic about the app’s future and said that today, Sri Lanka has over 27 million mobile connections, complemented by 1.5 million credit card users and 21 million debit card users, indicating an untapped reserve of potential.

The app has been designed to comply with the highest international standards, making it the most advanced digital payment gateway of its kind in the island. The app’s growing popularity is attributed to its ease of use, as users can make payments with just the click of a button.

Gamification within the app is a hit among users, where incentivisation through significant rewards will prompt users to spend a considerable amount of time with the app, beyond its transaction potential.

The PayMaster solutions team comprises professionals with track records of success from the tech and financial sectors.

PayMaster Solutions is a subsidiary of FirstPay Pte Ltd – Singapore.

The organisation is in the process of raising the US $ 500,000 seed round for FirstPay in Singapore and has raised over 70% of the amount, with committed capital in place for the balance. With the app’s popularity and a host of plans to increase awareness, PayMaster looks set to become the most popular method of payment in Sri Lanka.

– SJ