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HNB partners Bancstac for innovative eCommerce payment solutions

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HNB PLC, one of Sri Lanka’s leading private sector bank, recently announced their strategic partnership with Bancstac, a payment technology company, to launch innovative payment capabilities and expand into international markets.

The partnership enables HNB merchants to accept secure online payments from Visa, Mastercard, UnionPay International and dynamic QR code checkouts through HNB’s cutting-edge Internet Payment Gateway (IPG). Moreover, merchants can provide international customers with price certainty in their home currency by enabling HNB’s real-time currency conversion service over IPG for Visa and Mastercard International cards.

HNB Head of Cards Gauthami Niranjan said: “In today’s rapidly changing economy, it’s crucial for our customers and community to have the right digital financial tools. Our collaboration with Bancstac marks a significant stride in our journey to offer innovative payment solutions, while ensuring stringent standards in security, compliance, data protection, and technical stability. HNB’s IPG seamlessly integrates these capabilities with our bank staff to deliver an efficient and delightful customer experience.

Our partnership with Bancstac has far exceeded our expectations. Their team has swiftly provided critical technology solutions, enabling us to prioritize key business initiatives in Sri Lanka and expand our merchant acquiring business internationally, starting with the Maldives. Thanks to Bancstac’s assistance, HNB’s next-generation IPG is rapidly becoming an essential tool for direct merchants, fintech partners, and payment aggregators seeking to broaden their payment solutions.”

Merchants can access an online administration portal, through which custom transaction rules can be enabled to help manage business risks, detailed transaction reports can be accessed and advanced payment features can be enabled including, custom branded payment pages, recurring card payments, encrypted card tokenization, currency conversion services, e-commerce plugins, APIs for bulk payment processing and single-use e-payment links that can be shared via SMS, instant messaging, social

media platforms, and email. As the next phase of the partnership, HNB would be introducing Alipay, WeChat Pay, JCB and LankaPay National Card Scheme acceptance through Bancstac to further enhance payment acceptance capabilities.

Bancstac CEO Evan Lau said; “We are honored to partner with HNB, particularly given their track record as an established merchant acquiring bank. Our commitment extends to assisting all the bank’s clients, including those with complex, sector-specific integration requirements.”

Additionally, merchants who wish to accept American Express, Diners Club and Discover Network payments via seamless integration to the HNB IPG can apply to Bancstac, the authorized payment aggregator for American Express, Diners Club and Discover Network.

The post HNB partners Bancstac for innovative eCommerce payment solutions appeared first on DailyNews.

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