Standard Chartered (StanChart), one of the preferred international retail banks in Sri Lanka, announced an agreement with Global Payments Asia Pacific Lanka (Pvt.) Ltd, the indirect subsidiary of Global Payments Inc., a leading worldwide provider of payment technology services, to enable an automated interest-free instalment payment programme (IPP).

Through this agreement, StanChart now offers its merchants and credit card users a more convenient instalment payment experience. 

StanChart Retail Clients Head Sanjay Wijemanne said, “Under this agreement, merchants can now process the instalment transactions via a dedicated terminal, replacing the manual paperwork procedures with an automated electronic process. Business operation is streamlined for both bank and merchants. We hope that this will encourage more merchants to access this option so as to offer our clients a more diverse shopping experience.”

“We always focus on delivering quality services that help businesses innovate and grow,” said Global Payments Asia Pacific Lanka (Pvt.) Ltd Director Sri Lanka and Maldives Nazeem Mohamed.

“We understand merchants always look for solutions to streamline their operation flow. By extending the instalment payment to more consumers through our solution and framework, for merchants that means increased conversion rates, higher average tickets, increased customer satisfaction and reduced barriers to purchase.”

This programme takes a big leap towards protecting StanChart’s cardholders’ transaction data. Now, the process is automatically completed and encrypted via the dedicated terminal.