Business
Visa actively working to accelerate both card usage and acceptance across Sri Lanka
– Avanthi Colombage, Country Manager for Visa in Sri Lanka and Maldives
With the bustling festive season underway, how are the consumer shopping and behaviour trends looking from Visa’s vantage point, both online and offline?
The festive season is a time of celebration, gift-giving, and spending for many consumers around the world and for Sri Lankans. This season is looking positive with many consumers out and about again, for possibly one of the brightest holiday seasons in the past few years. There is a visible increase in footfalls at shopping malls and retail stores, as people gear up for the festivities.
One of the key trends we are observing this season is the shift in consumer behavior – in terms of how they pay for retail purchases – move towards contactless. Given the convenience of contactless payments, Sri Lankans now simply tap their cards to pay while checking out at a retail store, without the hassles of carrying cash, making the shopping experience even more convenient and rewarding.
Another trend that we expect to see this season is the rise in ecommerce, as more consumers opt to shop online to avoid crowds and enjoy the convenience of home delivery. With internet users in the country increasing from 30% in 2018 to 51%, we expect a rise in ecommerce as on the back of higher awareness and adoption of online payments. To add to the season’s festivities, Visa is also running a “Bill Wipe Out” campaign at the Colombo City Centre (CCC) in partnership with Yes FM, which will choose 33 customers to have their bills fully reimbursed, if they make purchases using Visa debit cards at the CCC (T&Cs apply).
What is Visa doing to make every day cashless purchases a simple and smooth experience for shoppers? Do you think the tendency to tap and pay is here to stay?
Visa has been deeply committed to Sri Lanka’s payments ecosystem and its growth for over 35 years. With our network of banks, merchants and fintech partners, we help consumers pay digitally, simply and securely every day. As Sri Lankans start to use their cards more, we are also working with businesses and small merchants, more so outside the main urban cities, to ensure they can accept a variety of payments – be it cards, contactless payments, QR payments or online/ecommerce payments, to ensure all consumers have access to sellers who accept safe, secure and convenient forms of digital payments. In tandem, our advanced risk capabilities are ensuring an updated, safe and secure environment for cashless transactions in this dynamic commerce environment.
We believe tap to pay is a game changer and definitely here to stay. Once consumers experience its convenience, especially in stores with long queues or when they’ve fumbled for change in cash before, they understand that this is faster and safer than cash. We continue to engage with retail partners and banks on increasing awareness of the benefits of contactless payments to create a smooth consumer experience in-store.
In numerous countries where contactless payments are entrenched, we have seen tapping becomes a habit and where one cannot tap to pay seamlessly, the consumer experience is less than perfect. We believe that contactless payments are the future of digital payments, as they offer a seamless and satisfying consumer experience.
Tourist numbers are looking up; we are seeing more holiday makers coming to Sri Lanka as the year ends. What more can be done to make Sri Lanka a preferred/repeat destination for travelers, particularly in terms of digital payments?
Sri Lanka is a diverse and attractive destination for tourists from around the world, offering a range of natural and cultural attractions. The country has witnessed a remarkable recovery in tourism with an unprecedented surge in foreign tourist arrivals, a 153% increase last month, after a 159.8% jump in October, signaling a robust start to the peak tourism season and in response to the favorable conditions in the country. With visas now free of charge for countries like India, China, Russia and others, we expect a further boost to tourism.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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