Dialog Axiata PLC, a unit of Malaysia’s Axiata group, yesterday announced that Sri Lanka’s Central Bank had granted its approval to extend Dialog’s mobile money platform eZ Cash to the country’s third largest mobile operator Etisalat Lanka (Pvt.) Ltd as well.

According to Dialog, this partnership, which will enable over 60 percent of Sri Lanka’s total mobile subscriber base to transact via eZ Cash, is the first of its kind in the world.

The combined subscriber base of Dialog and Etisalat counting over 12.7 million can now deposit, send and receive money and conduct transactions across a portfolio of over 16,000 eZ Cash merchants providing top up, withdrawal and over the counter transactions and over 100 online/web merchants providing online transaction capabilities via Etisalat and Dialog mobile phones.

The eZ Cash service also extends a comprehensive portfolio of e-Government, utility bill and insurance premium payment services via a mobile phone.

“I think it’s a great achievement for two operators to come together in the best interest of the consumer bringing together a complete eco system which spans the entirety of our country and encompassing many institutional partners, including the government of Sri Lanka,” Dialog Axiata Group Chief Executive Dr. Hans Wijayasuriya said.

He also noted that the eZ Cash team and Dialog take great pride in having reached the forefront of global best practice in Mobile Money and payments through the achievement of end-to-end mobile money inter-operability.

Dialog introduced eZ Cash, which is Sri Lanka’s first mobile money service, in June 2012, under the provisions of the Payments and Settlements Act of 2005 with Hatton National Bank PLC as the custodial bank and a trust agreement administered by Deutsche Bank AG.

The partnership between the two operators has been modelled in a way that it can accommodate further operators as well and Dr. Wijayasuriya pointed out that Dialog hopes that the remaining operators would join the platform too.

“Partnering with eZ Cash mobile payment service will enable more convenience and payment flexibility in addition to other innovative mobile transactions introduced to our four million plus customer base,” Etisalat Lanka Acting Chief Executive Wail Salman said.