Sampath Bank extends partnership with Paycorp International

To facilitate online payments from six major issuer networks

Sampath Bank PLC extended its strategic partnership with Paycorp International (Private) Limited, a wholly-owned subsidiary of Bancstac (“Paycorp International”), to provide Sampath Bank customers with the capability to accept online payments from American Express, Diners Club and Discover Network Cardmembers through Paycorp International’s Internet Payment Gateway (IPG).

Sampath Bank customers can already accept Visa, Mastercard and UnionPay International online payments through the Sampath Payment Gateway. With this partnership, Sampath Bank becomes the first local bank in Sri Lanka to enable its customers to access online payment transactions across these six major issuer networks.

To start accepting online payments for American Express, Diners Club and Discover Network, Sampath Bank customers simply need to apply online for a merchant account with Paycorp International. All applications are independently approved by Paycorp International, and the feature is then automatically enabled for approved merchants. Thereafter, merchants can conveniently access all their online payment transactions across six major issuer networks from the Paycorp International IPG merchant portal. Paycorp International’s pioneering IPG is Payment Card Industry Data Security Standard (PCI DSS) Level 1 certified and offers 3D secure certified payment verification (3DS) for added security and protection to businesses and consumers against fraud across all major credit card schemes.

Traditionally, businesses in Sri Lanka had to integrate various payment gateways and technologies to process online payments for different groups of issuer networks. The strategic partnership between Sampath Bank and Paycorp International will significantly simplify online payment transactions for businesses and government agencies across the island, thereby giving a substantial boost to digital commerce in the country. This strategic partnership supports Sampath Bank’s continued efforts to accelerate the pace of acceptance, adoption and integration of innovative digital payment solutions in line with the Government and the Central Bank of Sri Lanka’s efforts to implement new technologies to strengthen the payments and settlements infrastructure.