Mastercard forms partnership with PayMaster | Daily News


Mastercard forms partnership with PayMaster

Nimanthi Dissanayake, Product Manager- PayMaster Solutions (Pvt.) Ltd., Ransika De Silva, Director/Co-Founder, PayMaster Solutions Lasitha Ranaweera, Co-Founder, PayMaster Solutions, Santosh Kumar, Country Manager for Sri Lanka and the Maldives, MasterCard, Head, Digital Payments, Sri Lanka and Maldives, MasterCard in Colombo

The world’s leading payment and technology solutions provider, Mastercard recently entered into a strategic partnership with PayMaster, a locally developed online payment platform that seeks to drive Sri Lanka towards a cashless society.

This alliance between the two entities is expected to deliver enhanced convenience to consumers through their seamlessly combined innovative technologies.

PayMaster, officially launched earlier this year, aims to revolutionize the way Sri Lankans transact when topping-up their mobile reloads and paying their bills, by facilitating these processes through their smartphone.

PayMaster’s vision to tap into an untapped market as indicated by the 27+ million mobile connections, 1.5 million credit card and21 million debit card users, is backed by the Singaporean company, FirstPay Pte Ltd.

PayMaster’s simple, secure and convenient platform complies with the PCIDSS standards for card transaction processing via MasterCard’s MPGS platform and provides an unparalleled user experience using tokenization technology.

MasterCard’s alliance with PayMaster holds significance as it falls in line with the organization’s vision for a fast-paced consumer lifestyle that eliminates the need for physical cash.

Mastercard, together with PayMaster will provide their clients with the entire infrastructure to facilitate payment requirements with a modular based and service-oriented software architecture supporting existing structures, enabling customers to a truly cashless experience without the clutter which is normally seen in the market.

Mastercard considers safety and security as of paramount importance and MasterCard users can expect the same levels of technology and expertise that they are accustomed to, through the Paymaster App as well.


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