SL moves to New Model of Cashless Payments with PAYable
PAYable, a free Bluetooth card reader and mobile phone app developed by CBA Solutions Ltd., has been introduced to Sri Lanka with the mission to create an SME led transformation in the Sri Lankan economy, revolutionising cashless mobile payments.
PAYable will be distributed as a free mobile app paired with a free Bluetooth Card reader that will enable vendors to accept VISA and MasterCard credit and debit card payments.
According to CBA Solutions, PAYabel, a highly reliable, durable and compact card reader, can be paired with any smart phone or tablet to effectively convert a standard Android or iOS device into a secure, flexible and easy to use mobile Point-of-Sales (POS) solution.
“Inclusive growth is the driving force behind PAYable. Imagine merchants of any size gaining the power to accept card payments for their businesses but without the deterring costs that they would typically face, this could be a real game changer for them,” CBA Solutions co-founder and chief executive officer Sujith Subasinghe said.
According to CBA Solution, PAYable is designed using best in class security protocols, such as the PCI DSS Guidelines – a global security standard developed by VISA, MasterCard, and other major card providers.
Plus, PAYable is built within a secure network that is regularly monitored and tested in order to maintain the strictest standards of information security and protection of cardholder data.