Sri Lanka’s most digitally innovative bank, HNB announced a landmark new partnership with Visa to launch its globally renowned integrated ecommerce payment management service, CyberSource, across the bank’s entire merchant network.
HNB acquires the single largest merchant network in Sri Lanka. Through the new partnership, HNB will offer its merchant network enhanced e-commerce and m-commerce functionality, enabling them in turn to provide customers with seamless, robust and secure payment experiences.
“The future of commerce is undoubtedly digital, and that is why we are excited to enter into this milestone agreement with Visa in order to introduce the CyberSource payment gateway to Sri Lanka. CyberSource is a platform that forms the backbone of some of the largest e-commerce marketplaces in the world. Moving forward we aim to utilize this powerful platform to provide agile payment management for the Sri Lankan digital economy,” HNB Deputy General Manager, Retail Banking, Sanjay Wijemanne said.
Built on secure Visa infrastructure, CyberSource managed over US$ 467 billion in global transactions in 2018. The platform helps merchants worldwide grow sales, protect their brands and operate with greater agility. CyberSource customers include some of the largest and leading merchants and marketplaces in India’s digital commerce space.
“Online shoppers look for frictionless e-commerce experiences that combine ease of use with security. CyberSource provides merchants with highly secure environments and customers with a simple payment experience, the combination of which drives more traffic and transactions. Globally, CyberSource has proven to be highly scalable, capable of handling huge transaction volumes while focusing on user experience and transaction security.
Given that HNB is at the forefront of a digital evolution in the Sri Lankan banking sector, we are pleased to announce our first ever CyberSource partnership in Sri Lanka with them and help grow the country’s e-commerce sector,” TR Ramachandran, Group Country Manager for India & South Asia, Visa said.
“Sri Lanka is continuing its strong digital journey and ecommerce is growing rapidly through the extended reach of mobile and internet connectivity with consumers across the island. We are very pleased to provide HNB with our secure payment gateway CyberSource and will continue to empower Sri Lanka with more industry leading payment products” said Anthony Watson, Visa’s Country Manager for Sri Lanka and Maldives.
Standing as one of Sri Lanka’s most digitally innovative banks, HNB enjoys the largest market share in merchant acquisition throughout the island.
The bank has continuously invested in introducing new technology to merchants including Dynamic Currency Conversion on foreign cards, processing, in-app payments through tokenization, and mobile POS payments through HNB MOMO. Ably supported by a strong branch network and Regional Support Hubs, the Bank is committed to adding value to the country's ever expanding merchant network.
Operating through 251 customer centres across the country, HNB was recognised by the prestigious Banker Magazine as one of the Top 1000 banks in the world and is also the highest ranked local bank in this listing. HNB has also been adjudged Best Retail Bank 2018 by The Asian Banker Magazine in addition to being declared Best SME Bank, Best Digital Bank and the Best Cash Management Bank in Sri Lanka at the Asiamoney Awards 2018.
Over the recent past HNB was also named by Euromoney as the Best Corporate Cash Management Bank in Sri Lanka for 2018, in addition to being awarded Best Retail Bank and Best Micro Finance Bank at the International Finance Awards 2018 and being ranked among the Most Admired Companies in Sri Lanka by the International Chamber of Commerce and Chartered Institute of Management Accountants (CIMA).