Mastercard, Dialog Axiata expand mobile payments in Sri Lanka
Mastercard has entered a partnership with Sri Lanka telecommunications and mobile network operator Dialog Axiata PLC to support mobile payments on Dialog devices.
The companies hope to accelerate digital payment adoption through shared technology platforms and open-loop payments. The partnership is designed to accelerate Mastercard digital payments and expand card and virtual card payments for the more than 13 million subscribers in the Dialog database.
"Dialog's wide customer base and strong presence across the island will help us extend the convenience and security offered by our cutting edge electronic payments solutions to more Sir Lankan businesses and consumers," R. B. Santosh Kumar, Mastercard's country manager for Sri Lanka and the Maldives, said in a Monday press release.
Mastercard Payment Gateway Services will provide mobile commerce transactions with tokenization and other value-added services.
It's essential for a major mobile network operator like Dialog Axiata to partner with a card network like Mastercard because "the growth of payments using connected devices has increased rapidly in recent years" on the island, Fariq Cader, vice president of digital services at Dialog Axiata, said in the release.