Sripay is payment system in Sri Lanka. Its primary product is a digital wallet, SriPay Wallet, which also includes a mobile App that allows customers and merchants to conduct transactions directly from A’s bank account to B’s bank account through their mobile devices (Any bank to bank transfer).
For the time being only Sri Lankan citizens with a valid Sri Lankan passport or ID can use the SriPay Services
Yes, Any single Ownership, Partnership or Limited Liability Company can be a Merchant for SriPay.
Yes, Merchants Get SriPay Acceptable Merchant Wallet.
SriPay Merchant Wallet is developed to facilitate the Merchants to access and see the day today transactions, transactions reports, communicate with SriPay, Inter money transfers etc. It is an interface between SriPay Sri Lanka– individual/merchant wallet holders and the Sri Lanka Bank.
Merchant get App (Freely downloadable from Google Play-store), Free POS App, Android Pos Machines (On request), Cash registry (On request), and Back end to SriPay Sri Lanka Payboot Merchant Portal.
When you provide SriPay as a payment method, Sri Lankan Citizens are given the opportunity to access all their fund from all their different bank accounts given, Creating a higher spending power to which more good and services from your establishment can be sold hence they won’t depend on the money they have in their hand if it gets low.
You have to register in SriPay Sri Lanka as a Merchant/Individual and request SriPay as a Payment Method. You can fill in our online application or you can download the application and submit the relevant documents physically
Documents to be submitted include.
There are two types of QR codes; one is Static QR and the other one is Dynamic QR. When you get registered as a Merchant, SriPay Provides you a Static QR code to do transactions in anytime anywhere. If you want to get unique QR codes for each transaction, you have to create a POS account in PayBoot account. There you can create dynamic QR codes for each transaction.
SriPay is much more than just an App, It is a global lifestyle app. giving you the freedom to make direct bank to bank transfers between individuals and Merchants, and you have multiple choices to Spend, Borrow and Pay for anything and everything.
No, they just need to have a bank account and a SriPay Wallet Only.
Yes. Customer can download and register for SriPay without any cost and customers can use their SriPay wallets to make payments to SriPay merchants
Yes, Both the google Play store and the SriPay website have the application freely available to download
No, SriPay is a QR based payment system
A QR code (quick response code) is a type of 2D bar code that is used to provide easy access to information through a smartphone. In this process, known as mobile tagging, the smartphone’s owner points the phone at a QR code and opens a barcode reader app which works in conjunction with the phone’s camera.
Yes, Both payment systems are embedded to the SriPay system. Hence merchants will Automatically be eligible to be AliPay merchants, Allowing seamless use of both AliPay and Wechat pay through the SriPay wallet.
Boswin consultancy and investment private limited is solely responsible (Authorized body to make payments in Sri Lanka through Central bank).
Ucash Private Limited is responsible, which is a third party system connected to the SriPay Wallet.
If they use Alipay/Wechat pay, Visa or master card QR System then it will be possible.
- Enterprise email address (but not individual email addresses),
- Legal and beneficial owner information (NIC/Passport/business registration owner form),
- Business address confirmation (billing proof/government letter),
- Business name (registered and ‘trading as’ name),
- Business license documents (BR),
- Screenshots of online site or mobile application where Online Payment is offered,
- URL of its online sites, and
- Any other relevant information upon Boswin’s reasonable request from time to time.
- Filled Application Form
- Copy of National ID Or Passport
Alipay is live in Sri Lanka, Wechat pay will be live in Sri Lanka before the end if 2018.
Only Sri Pay merchants can use it.
Yes, there is a transaction fee which will be charged from merchants for every transaction. The transaction fee is differ from 1.5% to 3% depending on the transaction.
For Sri Lankan customers Sri Lankan Rupee. For merchants LKR and USD.
Transaction + 1 to 2 working days.
You can present your QR Code to the Client. Client will scan it and make the payment.
Yes. SriPay uses industry-leading security technology, conforming to PCI-DSS information security standards, and tailor full-featured security products to protect the security of every transaction.
When a transaction is made, you will receive a real time notification on your mobile phone and on the web site (if you’re logged in).
Yes. You can generate a daily report or an advance report anytime.
You can use any bank account (Current/Savings) as the settlement bank Account. Money will be deposited to that bank account.
T+2; your money will be deposited after 2 working days from the transaction.
Services fee 3% (Standard rate), your establishment will bare the services fee.
- Individuals –
- Transfers from Bank account to bank account – Immediate
- Debit/Credit card to bank account – immediate
- Merchants –
- Person to person immediate
- Person to Merchant Immediate
Any other payment gateway such as Alipay, Wechat pay, MasterCard will take Transaction + 1 day for funds to be realized in the merchants bank account.