PayMedia founder Is Best Entrepreneur
Kanishka Weeramunda, the founder of PayMedia Ltd., won the Most Valuable ICT Entrepreneur of the Year 2015 at the National Best Quality ICT Awards (NBQSA) held last Friday. PayMedia was created in 2014 and in a period of 15 months worked with two Sri Lankan banks – Sampath Bank and Hatton National Bank – to manage their Cash and Cheque Deposit Machines (CCDM) to increase efficiency and security. The Banks can now accept payments online in real time. PayMedia is also working with the Ceylon Electricity Board to automate its payment systems and recently completed the automation of CEB’s Dehiwala Customer Centre.
“I am overwhelmed by this award and I believe it will allow me to reach greater heights and accomplish much greater achievements for the organisations I serve. It’s all about startups and innovation. I always had the burning desire to do new things,” said Weeramunda.
PayMedia has initiated another innovative telecommunication sector project in the Netherlands and Belgium: “Currently, we support 72 telcos in Netherlands and 54 in Belgium, distributing mobile top-up vouchers on an electronic platform over 700 retail outlets. The project has eliminated card printing, logistics troubles, inventory management and it’s a 99.9% script-less, paperless and green initiative as it involves a minimal amount of paper. The advantage of this project is that it facilitates the entire distribution, redistribution and sales process. Another aspect is that as the prepaid operation functions on a credit basis, it addresses the credit and collection issue and the complete system runs on a prepaid model. Nearly 10,000 customers rely on us every day, which translates to nearly 300,000 transactions per month,” explained Weeramunda.
PayMedia’s Smart Banking Solution, the gold award-winner in the startup category, is also nominated for an Asia Pacific ICT Award (APICTA) 2015.