Common terminal for Mastercard, Diners payments soon in SL
A state-of-the-sart electronic transaction and payment solutions will be introduced shortly in Sri Lanka eventually replacing automated teller machines (ATM) widely used in banks, supermarkets, financial providers and clearing houses in the country.
Sten Karlsson, the chief Executive Officer (CEO) of West International displaying the new device along with Dinesh Rodrigo exhibiting the new device.
Chief Executive Officer(CEO) of West International Sten Karlsson said his company and Interblocks have launched a new device for processing payments in Sri Lanka and throughout in the region. “I am proud to announce the strategic partnership we formed with Interblocks Ltd, a leading provider of integrated electronic payment processing solutions in Asia and in the Middle East. We have many customers in retail trade, hospitality industry and in the retail banking sector.
We operate in countries like South Africa, Australia and in Scotland.” Speaking during the launch in Colombo last week, he said he was optimistic the way in which West International and Interblocks will innovate the payment market and make electronic payments more available to everyone here. “We will provide one terminal for all major cards such as Master Cards, Diners Cards, etc irrespective of the connection. This will reduce operating cost for the investor.” He said the system was web based and requires no fixed connection. Asked whether the new device was foolproof, Mr. Karlsson replied that the system had been tested vigorously for tampering by external forces.
The new device will provide one solution for settlement of payments which was a fast way of settling payment for merchants. It is user friendly and secure as merchants do not have to read data on a card. A card can be held above the device for it to activate automatically. This system will be used for the first time in Sri Lanka, for cash withdrawals and transfer of funds, he said. Dinesh Rodrigo, CEO of Interblocks Ltd, said there is a strong bond between the two companies in terms of commitment to build long term partnership with customers and focus on creating future solutions.