‘Sampath PayBand, a revolutionary payment device’

By Ifhaam Nizam

Sampath Bank introduced recently its latest innovation, the Sampath PayBand, a versatile wearable payment device, aiming to revolutionize the transaction landscape in Sri Lanka.

This groundbreaking solution caters to the evolving preferences of the younger generation and tech-savvy consumers, marking a significant milestone as the country’s first of its kind. Sampath PayBand heralds a new era in convenient and secure transactions.

Tharaka Ranwala, Senior DGM – Marketing, Customer Care & Card Centre, highlighted Sampath Bank’s pioneering role with the launch of Sampath PayBand, stating, “Sampath PayBand undoubtedly positions Sampath Bank as a trailblazer in banking innovation. This revolutionary wearable payment device signifies a significant leap forward in convenience and underscores Sampath Bank’s commitment to meeting evolving customer needs.”

Regarding the target market, Ranwala noted that while Sampath PayBand caters to a broad demographic, it particularly resonates with tech-savvy individuals valuing convenience and efficiency in financial transactions. The product may attract early adopters and those seeking the latest fintech advancements, anticipating widespread uptake across various age groups and demographics.

The creation of Sampath PayBand involved collaboration among stakeholders, with Sampath Bank’s top management envisioning innovation, the Credit Card Business unit providing insights into customer needs, and partnerships with industry leaders such as Visa and CBA (IDEMIA) contributing expertise and resources.

Shiran Kossinna, Assistant General Manager of the Card Centre at Sampath Bank, emphasized the bank’s dedication to driving innovation and providing a seamless shopping experience with Sampath PayBand.

The benefits of Sampath PayBand include convenience, innovation, contactless transactions, and its trendy appeal to the tech-savvy Gen Z generation. The product will be officially launched in mid-June through select branch networks, with Sampath Bank anticipating that others in the industry will follow suit, contributing to the continuous evolution of payment solutions in the market.

Launched in partnership with Visa, Sampath PayBand underscores the bank’s commitment to providing cutting-edge banking solutions, offering convenience, security, and peace of mind to consumers. It will be available to existing and new account holders at select Sampath Bank branches from mid-June onwards, with personalized assistance and guidance provided upon acquisition.

Sampath Bank, a leading private sector commercial bank in Sri Lanka, is renowned for its innovative financial products and services, driven by a commitment to excellence and customer satisfaction.Avanthi Colombage, VISA Country Manager for Sri Lanka and Maldives, and Ajith Salgado, Chief Information Officer, also spoke at the launch, along with Managing Director Ms. Ayodhya Iddawela Perera.