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iPay Wasi Season 2 concludes with resounding success

The iPay Wasi Season 2 Draw concluded successfully at the LOLC Head Office premises in Rajagiriya recently with 3 lucky iPay users emerging as winners. The draw took place in the presence of Mr. Dharamasiri Kumarathunga - Director, Payments & Settlements Department of the Central Bank of Sri Lanka (CBSL), Mr. Channa de Silva - General Manager & Chief Executive Officer, LankaClear (Pvt) Ltd, Mr. Conrad Dias – Director / Chief Executive Officer, LOLC Finance PLC and Mr. Kapila Jayawardena, Group Managing Director/CEO of the LOLC Group. The winners were selected randomly during the draw and they walked away with exciting cash prizes. Senior officials of LOLC Finance PLC also graced the occasion.

Prizes were given away to iPay users who performed the most number of transactions during the months of December 2020 and January this year. Users were required to introduce iPay to their friends and family members to stand a chance to win Rs. 250,000 in cash. Another 30 lucky winners were given cash prizes for introducing iPay to a minimum of 5 new users. Only successful transactions were considered for the draw.

Speaking during the event, Mr. Dharamasiri Kumarathunga, Director, Payments & Settlements Department of CBSL said, “In terms of digital payments and transactions, Sri Lanka is far behind many of its neighbouring countries and there is much more to do in order to develop the country’s payments and settlements system. Several committees have been appointed to steer these areas. I must state that the initiatives of iPay and LOLC Finance in digitalisation and automation is truly admirable and many other institutions can learn from this proven model”.

Mr. Conrad Dias, Director / Chief Executive Officer of LOLC Finance PLC said, “iPay is the number one payments platform now in terms of the number of transactions and customer acquisitions and iPay has been maintaining this position month on month continuously. But the potential is far greater because we have a platform beyond payments. iPay is an ecosystem, it’s not just a payment app. We have already launched this platform in Cambodia and hope to launch it very soon in Myanmar and Pakistan as well”.

Addressing the gathering, Mr. Kapila Jayawardena, Group Managing Director/CEO of the LOLC Group said, “We have witnessed exponential growth in the number of iPay transactions over the last few months and that is because of the strong efforts put in to drive this platform collectively by the staff of LOLC. There is immense potential for future growth for iPay both here and overseas and as a group we remain committed to greater automation and digitalisation to facilitate customers and streamline operations for greater efficiency”.

With an architecture that allows easy integration with any system, iPay is a simple, easy to use real-time payment platform for everyone. It has been designed with a host of features, giving the user a unique, one of a kind transaction experience. This revolutionary payment platform is powered by LOLC, one of Sri Lanka’s leading, most diversified financial conglomerates with international presence. With LOLC Finance operating as its merchant acquiring partner, iPay is acclaimed internationally as a mobile app that has been developed on an advanced software architecture. The app includes a host of features designed to securely integrate the customer and merchant ecosystem, making it a true Fintech (Financial Technology) application.




Mr. Kapila Jayawardena, Group Managing Director/CEO of the LOLC Group,
addressing the gathering






Mr. Conrad Dias, Director / Chief Executive Officer of LOLC Finance PLC, speaking at the event






Invitees attending the iPay Wasi Season 2 Draw






The winner of iPay Wasi Season 2 Draw receiving the prize