Top 8 Payment Gateways in Sri Lanka You Should Know About

Top 8 Payment Gateways In Sri Lanka

As with e-businesses worldwide, the e-commerce industry in Sri Lanka is experiencing remarkable growth. The internet has ushered in a new era of online retail, propelling economic expansion in the post-COVID-19 era. In 2021, we witnessed significant shifts in online shopping patterns. The Sri Lankan government’s commitment to bolstering internet infrastructure to meet growing trade demands is evident.

According to recent research, the eCommerce market in Sri Lanka is expected to reach a revenue of US$2,682.00 million in 2022, with an annual growth rate of 21.57%. By 2025, the market volume is projected to reach US$4,819.00 million. In 2020, Daraz, a prominent e-commerce platform in Sri Lanka, released an e-commerce index revealing critical demographic insights, consumer behavior, and purchasing trends.

The Significance of Payment Gateways in Sri Lanka

The role of payment gateways in e-commerce stores cannot be overstated. These gateways not only facilitate sending and receiving payments but also play a crucial role in ensuring the smooth functioning of the economy. While internet infrastructure and literacy rates are concentrated in western parts of the country, other regions, including Colombo, Gampaha, and Monaragala, are rapidly catching up. It is vital to introduce payment gateways to maintain the flow of funds between businesses and consumers.

A payment gateway’s primary function is to authorize eCommerce and online business payments, ensuring a seamless and secure transaction process.

The Current Payment Landscape in Sri Lanka

Information technology’s rise is propelling the Sri Lankan economy into the digital age. With a growing number of FinTech organizations in the country, the payment and settlement structures are evolving with the introduction of new payment channels and online facilities. The Central Bank of Sri Lanka (CBSL) supervises the entire payment cycle in Sri Lanka, playing a pivotal role in stabilizing, monitoring, and managing monetary policies. CBSL’s efforts to promote developments in the national payment systems are essential.

Currently, a variety of payment options are available in Sri Lanka, including:


Sri Lanka Interbank Payment System (SLIPS)

Credit/Debit/Charge/Stored Value cards

National Card Scheme

Customer account-based mobile payments

Internet banking

QR code-based payments

Online payment gateways

Several more payment options are available, ensuring diverse choices for the public, contributing to the economy’s gradual but steady progress.

Factors to Consider When Choosing a Payment Gateway in Sri Lanka

Payment gateways are integral to an economy’s payment structure, facilitating transactions between customers and businesses. Choosing the right payment gateway involves considering various factors, such as:

Cost: Evaluate the setup fees, monthly fees, and transaction fees associated with each payment gateway. Select an option that aligns with your transaction volume and value to maximize profitability.

Types of payment options: Look for a payment gateway that seamlessly integrates with different payment options, allowing you to send and receive payments through various channels.

Multi-Currency support: Since businesses in Sri Lanka may have both domestic and international customers, it’s important to choose a payment gateway that can handle multiple currencies to avoid customer loss.

Security: Given the sensitive nature of financial transactions, prioritize payment gateways that offer robust security standards to protect customer data.

Now, let’s explore the top 8 payment gateways in Sri Lanka:

Sampath Bank:

Services: Offers a range of banking and financial services.

Pricing: Setup fee – LKR 15,000, Annual Fee – LKR 45,000, Transaction charges – Local (3%), Foreign (4%)

Accepted payment methods: Visa, MasterCard, Union Payment

Supported currencies: All major currencies

Seylan Bank:

Services: Provides customized payment solutions for businesses.

Pricing: Setup fee – LKR 20,000, Annual Fee – LKR 30,000, Transaction charges – Local (3-4%)

Accepted payment methods: Visa, MasterCard

Supported currencies: All major currencies

Commercial Bank:

Services: Known for a direct MasterCard internet gateway system.

Pricing: Setup fee – LKR 10,000, Annual Fee – LKR 36,000, Transaction charges – Local (3%), Foreign (4%)

Accepted payment methods: Visa, MasterCard, Union Pay

Supported currencies: All major currencies

Hatton National Bank (HNB):

Services: Offers secure payment gateways but with relatively higher charges.

Pricing: Setup fee – LKR 15,000-20,000, Annual Fee – LKR 60,000-108,000, Transaction charges – 4%

Accepted payment methods: Visa, MasterCard, local debit/credit cards

Supported currencies: All major currencies


Services: A digital wallet and PCI-DSS payment gateway.

Pricing: Setup fee – None, Annual Fee – None, Transaction charges – 1.5%

Accepted payment methods: Visa, MasterCard, local debit/credit cards, mobile money, and savings/current accounts

Supported currencies: 12 foreign currencies


Services: Offers a wide range of payment options.

Pricing: Setup fee – LKR 15,000, various annual subscription fees, Transaction charges – 2.3-2.8%

Accepted payment methods: Visa, China Union Pay, MasterCard, and more

Supported currencies: All major currencies


Services: A central bank-approved payment gateway supporting local and global payments.

Pricing: Setup fee – None, Transaction charges – 2.9-3.99%

Accepted payment methods: Visa, MasterCard, American Express, and more

Supported currencies: LKR, USD, EUR, GBP, AUD


Services: A monetization platform for international and domestic payments.

Pricing: Setup fee – None, Pay-as-you-go model for Annual Fee, Transaction charges – 3.5% + $0.35 to 6.0% + $0.60

Accepted payment methods: Visa, MasterCard, local debit/credit cards

Supported currencies: Over 200 currencies

How Web Technology Expert (formerly web technology expert) Can Help with Payment Gateway Integrations in Sri Lanka:

Managing multiple payment gateways can be challenging. Web Technology Expert’s platform is designed to handle over 300 payment gateways in Sri Lanka, providing a user-friendly solution for eCommerce and digital marketplaces. This platform supports domestic and international payment gateways, allowing transactions in local currencies, reducing conversion costs, and ensuring a user-friendly experience. It offers advanced security standards, customizable integration, and PCI-DSS and GDPR compliance. Web Technology Expert streamlines the management of all payment gateways and associated reports, ensuring comprehensive payment-related data management.

Web Technology Expert is your partner for efficient payment gateway management in Sri Lanka.

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