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HNB Introduces Cashless Payment Solution for Taxi Services

HNB MOMO and Kangaroo Cabs have formed a mutually beneficial alliance, in what could only be described as the most significant moment in recent history. Kangaroo Cabs has incorporated this new age technology, paving the way for a future of cashless convenience.

HNB recently made history with its revolutionary unveiling of "HNB MOMO", becoming the first bank in Sri Lanka to introduce the mobile POS technology to local businesses. HNB MOMO utilises EMV technology enabling chip-based card acceptance, therefore, it provides equal opportunities and a low-cost mobile solution for large retailers, micro-level vendors and even professionals. While the merchants are able to accept debit and credit card-based payment transactions using their smartphones, the overall benefit the community derives from this new technology is a whole new level of convenience. The customers are free from "cash only" restrictions and it's certainly a fresh break from the days of standing in long queues or slow checkout counters. The HNB MOMO package consists of a lightweight software application and a portable MOMO unit; merchants with smartphones, which runs on Android, iOS or Java platforms will be able to have the application installed, while the portable unit would have to be connected to the audio jack of the phone during a transaction. The cardholder has the option of receiving a digital receipt as payment confirmation or an e-mail of the full receipt with the signature.

Throughout its illustrious 124 years, Hatton National Bank has continued to raise the bar and it has garnered a reputation for its endless quest towards innovation; constantly reinventing itself and modernising its products and services to provide a better customer experience. The introduction of MOMO complements a heritage built on innovation, while ushering in a new era of cashless convenience and card-based payment acceptance.

On being interviewed, Mr. Kusal Fonseka, Director - Finance of Kangaroo Cabs states that, "We are the pioneering cab company in Sri Lanka, having started our operations in 1988 and today, we are enjoying 70% of the market share. That makes us the market leader in the cab service industry in the country. Our successful operational performance allows us to go in for an expansion programme and we ventured in to the similar field of business by introducing Kangaroo Vans and Colombo City Cabs to fill up the niches that were prevailing in the marketplace."

With HNB MOMO, the Kangaroo Cabs taxi service can now accept debit and credit card payments from all VISA and MasterCard. This opens up a whole new world of convenience and safe payments for the customers of our Kangaroo Cabs. "We are immensely happy to not only provide this pioneering service to our customers but in addition, we are the first cab service in Sri Lanka to use such a service," said Mr. Kusal Fonseka.

"According to our research there are over 10 million debit card holders and over 500 thousand with credit cards in Sri Lanka. This is a statistical representation of the adult population who can afford to pay by card. So the decision for HNB to tie up with Kangaroo Cabs could be considered as a match made in heaven, and this merger is the first of many to come. HNB MOMO would be taken up by a majority of the transport sector and luxury cab services, fast food chains, supermarkets and even airlines", said Mangala Wickramasinghe, Chief Manager of Electronic Delivery Channels and Card Centre. HNB's large network of over 250 customer centres island wide make it easily accessible for all merchants to withdraw funds and conduct all their other banking services as well.

HNB Managing Director/CEO, Jonathan Alles exchanging the agreement with Sunil Fonseka, Chairman/Managing Director of Kangaroo Cabs. (From left): Sandun Hapugoda, Manager of E-Banking, HNB, Mangala Wickremasinghe, Chief Manager of Cards & Electronic Delivery Channels, HNB, Kusal Fonseka, Director-Finance of Kangaroo Cabs and Thushara Fonseka, Director-Operations of Kangaroo Cabs.

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