Seylan Bank collaborates with Kapruka.com, one of Sri Lanka’s largest e-commerce platforms. The collaboration allows Kapruka to accept payments directly from a bank account. The venture opens the platform’s usage to millions of Sri Lankans, enabling them to access Kapruka’s extensive collection of merchandise. This decision elevates Kapruka’s ability to meet the needs of their growing online customer base.

Seylan Bank’s Open API stack allows Kapruka customers to enjoy an improved, user-friendly payment experience. Prior to the arrangement, customers were unable to use their bank accounts, and had either to opt for Cash on Delivery or Fund Transfer, which both holds inherent risks and inconvenience. The new payment feature offers customers the opportunity to make direct payments using their bank accounts in real-time. 

This removes the necessity of credit or debit cards, a transformative move that unlocks segment of customers who were unable to participate in online transactions as they were not carded. It redefines how merchants and customers interact with each other.

“This new milestone will make it easier for Kapruka to onboard a larger client base. As such, they are now free to intensify their focus on local markets,” Kapruka’s CEO Dulith V. Herath said.
Seylan Bank’s Head of Digital Banking, Chaminda Senewiratne, affirmed that enabling Open API banking services for Kapruka will allow a boom in hitherto unseen e-commerce activity. He also commented that Seylan Bank is now expressing immense support for all partners across the board, big and small, in a bid to enable safe and efficient local payments through these services.

Additionally, Seylan Bank’s Chief Information Officer, Harsha Wanigatunga, added assertd that Seylan Bank has a well-layered and architected IT ecosystem to facilitate this. Consequently, the collaboration with Kapruka swiftly fell into place, enabling the integration of heightened security to facilitate payment for their customers.”