DFCC Bank forges strategic alliance with Mintpay

From left: Mintpay Head of Brand and Marketing Nadev Ravindran, Mintpay Head of Finance Piuma Wijesinghe, DFCC Bank Senior Vice President/Head of Retail Banking and SME Aasiri Iddamalgoda, DFCC Bank Senior Manager Merchant Acquiring Chrishan Jayamanne and DFCC Bank Assistant Manager Merchant Acquiring Jude Amarasekera

DFCC Bank has forged a strategic alliance with Mintpay, the country’s premier financial app. 

This partnership introduces unique payment options for debit cardholders, such as Buy-Now-Pay-Later (BNPL) and Pay Now, a feature not commonly found in the market. By integrating DFCC Bank’s internet payment gateway (IPG) with Mintpay, they are set to revolutionise the financial landscape, enhancing financial flexibility for all debit cardholders. 

DFCC Bank will thus be able to provide attractive options for BNPL to its debit cardholders, while Mintpay will benefit from leveraging the bank’s IPG and extensive acceptance network. Accordingly, any debit cardholder now has the option to Pay Now or BNPL and spread their purchase costs into three interest-free instalments for all online and in-store purchases via Mintpay. This flexibility reflects DFCC Bank’s commitment to meeting the evolving needs of its customers and providing any debit cardholder with convenient payment solutions tailored to their preferences.

DFCC Bank Vice President/Head of Card Centre Denver Lewis commented, “We are delighted to partner with Mintpay, the first homegrown payment platform to offer merchants and debit cardholders a seamless online experience by enabling the Buy-Now- Pay-Later payment option. The partnership has set up a benchmark in introducing a new payment acceptance instrument for e-commerce merchants and financial inclusivity for debit cardholders by offering the instalment payment option for their purchases.”

One of the most significant outcomes of this partnership is the expanded market reach for both DFCC Bank and Mintpay. By offering the BNPL options through DFCC Bank’s Internet Payment Gateway, Mintpay will be able to tap into a vast customer base, significantly expanding its market presence. 

Mintpay Head of Finance Piuma Wijesinge, added, “The agility of Mintpay’s technology has paved the way for dynamic partnerships, exemplified by our collaboration with DFCC Bank, setting new benchmarks in financial inclusivity and ethical consumer behaviour in Sri Lanka.”