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PAYable gears for accelerated growth

Building on the success of its growing network of merchants and customers, Sri Lankan startup, PAYable, announced the successful completion of a round of funding that will set the pace for a new wave of credit and debit card usage and e-commerce led growth in the Sri Lankan economy.

 

Launched in 2016, the revolutionary PAYable cashless mobile payments platform has gained the trust and support of a diverse cross-section of Micro, Small and Medium Enterprises (MSMEs) and entrepreneurs and banks.

 

PAYable is a free mobile app paired with a free Bluetooth card reader that enables merchants to accept credit and debit card payments from their customers. A highly reliable, durable and compact card reader, PAYable can be paired with any Android or iOS smart phone or tablet to effectively convert it into a secure, flexible and simple to use mobile Point-of-Sales (POS) solution.

 

Built on the inspirational and visionary leadership of Sujith Subasinghe, PAYable’s late co-founder and CEO together with co-founder and incoming CEO, Yohan Wijesiriwardane, the platform is now enjoying rapid growth across Sri Lanka.

 

“It is a very promising time for us at PAYable particularly with the outstanding market success we have enjoyed, leading up to our most recent round of funding. We are inspired by the enthusiastic and overwhelming support our platform has received by everyone in our ecosystem – which includes our merchant end-user and their consumers, the forward-thinking banks who adopted our solution quickly, and guidance provided by our investors who are of the highest caliber.”

 

“We are committed to driving a revolution in cashless payments. We believe that the future includes a balance between older methods of payment such as cash and cheques, rapidly evolving forms of well-accepted methods such as cards, and emerging methods comprising wallets and other modes of peer to peer online (card-less) payments. Our technology and business strategy encompasses thoughtful considerations of all these factors, as well as what top Fintechs are doing to digitally transform banking and payments,” Wijesiriwardane said.

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