DFCC Bank, one of Sri Lanka’s premier commercial banks, has announced that its merchant Point-Of-Sale (POS) machines have been enabled with the acceptance of UnionPay cards. DFCC Bank has embarked on an aggressive expansion strategy since it launched its merchant acquiring business in 2020. Since then, the Bank has grown into a significant player within.
DFCC Bank, the premier commercial Bank in Sri Lanka, was recently awarded as the ‘Tactical Campaign Innovator of the Year’ at the prestigious ‘Daraz Payment Partner Performance Awards’. The Bank received the award for the strength and commitment it has showcased as a partner in creating inclusive value through innovation for all customers, through its […]
DFCC Bank partners with Visa for Micro Merchant transactions
May, 6, 2021
DFCC Bank, with the aim of being the most customer-centric and digitally-enabled bank in the years to come, recently partnered with Visa to facilitate digitally driven, cost-effective transactions at Micro Merchant Businesses and increase card acceptance among Micro Merchants in Sri Lanka. This partnership will further strengthen the transaction processing capability for merchants of DFCC Bank with its low transaction costs, while enabling their ability to shift from cash to accepting card payments.
With the Sri Lanka Micro Merchant Program, an initiative by Visa, the Bank can process transactions for merchants at a lower cost. The high merchant discount rates offered to this segment have been the main challenge in getting such Merchants to accept card-based transactions. With this initiative, the Bank intends to bring the small merchant community into the sphere of digital transformation.