By: Staff Writer
August 29, Colombo (LNW): iPay, Sri Lanka’s leading mobile payment platform, has reached a significant milestone by processing over Rs. 300 billion in transactions.
This achievement comes just six months after the platform crossed the Rs. 200 billion mark, demonstrating its rapid growth, increased consumer trust, and widespread acceptance across the nation.
Since its launch, iPay has been at the forefront of Sri Lanka’s digital payment revolution, offering users a seamless and secure experience.
The award-winning app provides a variety of services, including instant bank transfers, real-time utility bill payments, e-channeling, mobile reloads, and digital savings and fixed deposit accounts. With a growing network of over 45,000 merchants,
iPay has made financial transactions more accessible and convenient, reflecting the increasing reliance on digital payments in a rapidly changing economic environment.
Designed with a user-friendly interface available in Sinhala, Tamil, and English, iPay ensures inclusivity and ease of use for a diverse audience.
Features such as easy registration through a selfie, three-step bill payments, and secure fund transfers highlight iPay’s dedication to simplicity and efficiency.
Advanced security measures are in place to protect transactions, providing users with confidence and peace of mind. iPay also regularly updates its features to enhance the user experience, demonstrating its commitment to meeting the daily financial needs of its users.
iPay’s focus on innovation has earned it several prestigious awards, including the Gold Award for Best Mobile Application for Retail Payments via Just Pay and the Gold Award for Most Popular Digital Product (Internet and Mobile Banking) at Technovation 2024.
These accolades position iPay as a benchmark for excellence and a key driver in Sri Lanka’s digital future. The platform’s success reflects its strategic vision and ability to adapt to emerging trends and technologies, ensuring it delivers advanced services to both current and future generations, particularly digital natives.
Commenting on the milestone, iPay AGM Nimesh Fernando stated, “Our journey has been one of innovation and perseverance. Reaching this milestone not only confirms our platform’s reliability but also highlights the growing confidence in digital payments among Sri Lankans. LOLC Finance Head of Consumer Banking and Digital Hasala Thilakaratne added, “This milestone is not just a reflection of our success but a testament to the shift towards a digital economy in Sri Lanka.
As the lifestyle app of LOLC Finance, iPay continues to set new standards by introducing innovative solutions and expanding its merchant network for digital payments in Sri Lanka. With a mission to revolutionize the FinTech landscape, iPay is dedicated to driving the future of financial technology in the country.
