“Female entrepreneurs use e-commerce to remain resilient”

In a recent podcast discussion hosted by The Women’s Policy Action Network, Daraz Head of Corporate Affairs, Public Policy & ESG Anishka De Zylva, emphasized the critical need for Sri Lanka to bolster digital payment systems to catalyze the growth of its e-commerce sector.

De Zylva pointed out the stagnant growth of digital payments in Sri Lanka, urging the banking sector to take a more active role in promoting these services.

“The introduction of more digital payment solutions has been slow, and we need to see more stakeholders come together to drive this and incentivize the consumer to switch to digital payments,” she stated.

Lamenting a dominant cash system, De Zylva believes that transitioning costs (passing them on) from merchants to consumers could create a competitive market for digital payment providers and increase uptake of digital payments that benefit both merchant and consumer.

The JustPay system in Sri Lanka is exponentially cheaper in fee structure and has recently launched services JustPay Web and PayMe allowing businesses to onboard themselves onto the system at a fraction of the cost of existing payment gateways.

De Zylva was speaking at an event hosted by theAdvocata Institute supported by the Kingdom of Netherlands.

Highlighting the resilience and adaptability of women entrepreneurs, De Zylva shared, “40% of women-owned businesses used online sales as a coping mechanism during Sri Lanka’s crisis, compared to around 27% of men-owned businesses.” This statistic underscores the potential of e-commerce as a tool for economic empowerment and stability for women in challenging times. To further support women’s integration into digital commerce, De Zylva praised initiatives like ICTA’s Suhuruliya program and Daraz’s own Arya Shakthi program, which aim to enhance the ICT capacities of women entrepreneurs. “Around 17,500 women entrepreneurs were trained through this program.”

Moreover, De Zylva highlighted the untapped potential of e-commerce in Sri Lanka, pointing to the opportunities arising from underpenetrated internet and smartphone usage, as well as the global market access e-commerce provides.

“The addressable market for e-commerce is likely to grow over the next 3 to 5 years, which is a big business opportunity,” she remarked, emphasizing the lower costs and quicker setup of e-commerce stores compared to traditional brick-and-mortar stores. (TP)

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