Sampath Bank, in partnership with Bancstac, became the first local bank to enable businesses to automatically generate dynamic merchant LankaQR codes through the Sampath Bank Payment Gateway (powered by Bancstac) without any technical integration required by the merchant. This innovation allows businesses to accept payments from all LankaQR-enabled apps and digital wallets at much lower transaction costs than traditional credit card payment methods.
Unified Acceptance Across LankaQR and Six Major Global Card Networks.
Sampath Bank customers at present can accept payments from Visa, Mastercard, and UnionPay International cards through the Sampath Payment Gateway and, in partnership with Bancstac, businesses can also accept American Express, Diners Club, and Discover Network cards.
Automatic Dynamic QR
Generates transaction-specific dynamic LankaQR codes automatically on the gateway without merchant integration.
Lower Transaction Costs
Enables payment acceptance from all LankaQR apps and digital wallets at lower fees than traditional cards.
Near Real-Time Settlement
Delivers near real-time payment confirmation and settlement alongside 6 global card schemes.
“At Sampath Bank, we have always strived to leverage emerging technologies to deliver innovative solutions that transform Sri Lanka’s financial services landscape, and add more value to the nation. Empowering businesses with the necessary finances and the right solutions through every stage of their growth journey remains one of our key areas of focus. We have continued to enable businesses to take their first steps into the world of digital commerce. We are excited to strengthen our partnership with Bancstac and in so doing enhance our customers’ payment acceptance capabilities. Sampath Bank business and government customers may now seamlessly accept payments from six of the world’s major issuers and LankaQR, which will help drive sales and business growth. This is yet another innovative solution to have been developed through our longstanding partnership with Bancstac. We invite businesses of all sizes to simplify the payments processes on their e-commerce portals and internet connected devices.”
“We are committed to a vision of modernising Sri Lanka’s digital payment economy and promoting cashless transactions by launching innovative and frictionless payment experiences for businesses, government and the communities we serve. Our long-term strategic partnership with Sampath Bank has enabled us to achieve many firsts. Our latest innovation, dynamic presented merchant LankaQR codes via the Sampath Bank Payment Gateway, further reinforces our track record of successfully developing and launching modern payment technology ecosystems. By enabling LankaQR to achieve near real-time payment and settlement capability, we are proud to help democratise e-commerce by making it more accessible and affordable for businesses to accept digital payments without any technical knowledge.”
About Sampath Bank
Sampath Bank is a 100% local bank that has deeply rooted itself in the hearts of the people of Sri Lanka. Established in 1987, the bank has become a state-of-the-art financial institution that continues to be a market leader today thanks to its constant innovation and customer focused approach to business. It has introduced many firsts to the Sri Lankan banking sector including the introduction of ATMs to Sri Lanka, extended banking hours and slip-less banking to name a few. The Bank continues to steadily transform itself into a technology-driven financial services provider whilst keeping true to local traditions and values.
About Bancstac
Bancstac is a core technology infrastructure partner and payment innovation company to banks and their corporate clients, enabling seamless adoption and customization of digital payment and acceptance capabilities from closed-loop payment networks, real-time settlement systems and global card schemes. Bancstac is PCI DSS Level 1 certified and a PCI 3DS compliant payment processor, payment gateway, payment aggregator, payment orchestration platform and technology innovation company. Bancstac is a preferred and certified global technology partner to UnionPay International and enables banks to directly connect to the card scheme.