1st, January, 2021

Seylan Bank partners with Mastercard to facilitate MasterCard Payment Gateway Services

Seylan Bank, the Bank with a Heart, recently partnered with Mastercard to integrate MasterCard Payment Gateway Services (MPGS) – a technology platform to enable easy and secure acceptance of a wide range of digital payment methods for Seylan customers.

As the need for digitization of banking products and services grows globally, banks are continuing to evolve their Internet Payment Gateways (IPG) to introduce new technologies offering heightened customer convenience and security of digital transactions. By partnering with Mastercard and facilitating the MPGS platform, Seylan customers, merchants, and industry partners will benefit from a range of features, delivering an enhanced user experience.

Commenting on this, Chaminda Senewiratne - Head of Digital Banking Channels at Seylan Bank said “The MasterCard Payment Gateway Service will transform digital transactions, further eliminating the need for cash payments. We at Seylan Bank, are proud to partner with Mastercard, one of the world’s leading payment platforms to offer our customers the MPGS service. Our customers can now experience an elevated, secure, reliable, and fast digital payment process, making the payment gateway a desirable channel giving merchants a chance to take their businesses global and accept payments from customers through the gateway. We will continue our commitment to provide value-added services for our customers, by continuously investing and upgrading our service offerings”.

Speaking on the partnership Rajesh Mani, Country Manager, Mastercard, Sri Lanka, said, ‘With MasterCard Payment Gateway Services (MPGS) we aim to deliver enhanced purchase experiences to Seylan Bank consumers backed by our trusted technology. Through the unique combination of our advanced gateway technology and our global network, MPGS enables merchants to accept consumer payments from multiple brands all over the world through any channel. For partners, it provides a fast, simple, and secure solution for payment processing and fraud prevention.”

The MPGS platform also covers a range of value-added services to further enhance user experience and provide merchants with a competitive edge, including hosted payment options, reducing merchant needs to handle sensitive consumer card information, flexible payment schedules enabling customers to set up ongoing payments in advance, tokenization for security purposes, eliminating the need to re-enter card details when doing multiple transactions from the same merchant, sophisticated merchant management portal including a dashboard interface, virtual terminal, and online reporting functions.

Through a mobile-optimized interface, MPGS also enables online documentation, dynamic currency conversion, token format options, and developer-friendly application programming interface (API) software. Through this partnership, Seylan Bank aims to bring greater convenience to customers by enabling them to benefit from a host of value-added features providing a seamless digital transactional experience.

Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class service. The Bank has a growing clientele of SMEs, Retail and Corporate Customers and has expanded its footprint with 173 branches across the country and an ATM network of 216 units. Seylan Bank has been endorsed as a financially stable organisation with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised upward, from ‘A-(lka)’ to ‘A (lka)’. The bank was ranked second among public listed companies for transparency in corporate reporting by Transparency Global and is now part of the S&P Dow Jones SL 20 Index. These achievements are a testament to Seylan Bank’s financial stability and unwavering dedication to ensure excellence across all endeavours.

About Mastercard (NYSE: MA), www.mastercard.com

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart, and accessible. Using secure data and networks, partnerships, and passion, our innovations and solutions help individuals, financial institutions, governments, and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.