ARTECULATE
No Result
View All Result
  • News
  • Premium
  • Features
    Fortude | Diversity | Great Place to Work

    A Decade Later: Fortude Continues To Spearhead Initiatives for an Inclusive Culture Where ‘Everyone Belongs’

    Anycover Insuretech eCommerce Singapore

    How Singapore-based Startup Anycover is Reinventing Extended Warranties

    Creative Software

    22 Years of Resilience and Growth: Inside Creative Software

    Surer Insuretech Singapore

    How Surer is Uplifting the Singaporean Insurance Industry

    Klaytn | Web3 | Asia | Blockchain

    Klaytn is the Web3 Gateway to a New Creator Economy in Asia

    PickMe Digital System Fuel Sri Lanka

    Prevent Cities from Becoming Ghost Towns: A Transparent Digital System for Fuel Distribution

    Aman health insurance Indonesia

    Indonesia’s Aman is Helping Companies Streamline their Employee Benefits

    Axiata Digital Labs: Forging Ahead With A New CTO

    Axiata Digital Labs: Forging Ahead With A New CTO

    BISTEC Sri Lanka

    Inside BISTEC Global: A People-First Approach that’s Empowering Global Businesses

    Where are they now?  John Keells X Startups Catapulted to Success

    Where are they now?  John Keells X Startups Catapulted to Success

  • Startups
  • Events
  • Hotpicks
  • Community
    Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

    Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

    The RiskSense Story: Building a Cyber Security Product

    The RiskSense Story: Building a Cyber Security Product

    Negotiating to Thrive – Lessons from a Hostage Negotiator

    Negotiating to Thrive – Lessons from a Hostage Negotiator

    First wildlife travel-based management lessons book by Sarath Perera to be launched

    First wildlife travel-based management lessons book by Sarath Perera to be launched

    Hack:bit 2020 is bringing the ideas of students and undergraduates to life

    Hack:bit 2020 is bringing the ideas of students and undergraduates to life

    ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

    ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

    Trending Tags

    • Contributor
    • Billboard
    SUBSCRIBE
    • News
    • Premium
    • Features
      Fortude | Diversity | Great Place to Work

      A Decade Later: Fortude Continues To Spearhead Initiatives for an Inclusive Culture Where ‘Everyone Belongs’

      Anycover Insuretech eCommerce Singapore

      How Singapore-based Startup Anycover is Reinventing Extended Warranties

      Creative Software

      22 Years of Resilience and Growth: Inside Creative Software

      Surer Insuretech Singapore

      How Surer is Uplifting the Singaporean Insurance Industry

      Klaytn | Web3 | Asia | Blockchain

      Klaytn is the Web3 Gateway to a New Creator Economy in Asia

      PickMe Digital System Fuel Sri Lanka

      Prevent Cities from Becoming Ghost Towns: A Transparent Digital System for Fuel Distribution

      Aman health insurance Indonesia

      Indonesia’s Aman is Helping Companies Streamline their Employee Benefits

      Axiata Digital Labs: Forging Ahead With A New CTO

      Axiata Digital Labs: Forging Ahead With A New CTO

      BISTEC Sri Lanka

      Inside BISTEC Global: A People-First Approach that’s Empowering Global Businesses

      Where are they now?  John Keells X Startups Catapulted to Success

      Where are they now?  John Keells X Startups Catapulted to Success

    • Startups
    • Events
    • Hotpicks
    • Community
      Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

      Unlock The Secrets of Startup Funding with Founders Institute Sri Lanka

      The RiskSense Story: Building a Cyber Security Product

      The RiskSense Story: Building a Cyber Security Product

      Negotiating to Thrive – Lessons from a Hostage Negotiator

      Negotiating to Thrive – Lessons from a Hostage Negotiator

      First wildlife travel-based management lessons book by Sarath Perera to be launched

      First wildlife travel-based management lessons book by Sarath Perera to be launched

      Hack:bit 2020 is bringing the ideas of students and undergraduates to life

      Hack:bit 2020 is bringing the ideas of students and undergraduates to life

      ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

      ESCaPe 2020: University of Peradeniya’s Engineering Students Conference

      Trending Tags

      • Contributor
      • Billboard
      No Result
      View All Result
      ARTECULATE
      No Result
      View All Result

      PickMe Introduces LankaQR: A Step Towards Strengthening the Digital Economy of Sri Lanka

      Arteculate Arteculate
      October 7, 2021
      · 5 mins read
      PickMe Introduces LankaQR: A Step Towards Strengthening the Digital Economy of Sri Lanka
      Share on Facebook Share on LinkedinShare on Whatsapp

      Speaking to Arteculate, the CEO of LankaClear, Channa De Silva, once said, “Startups should look towards offering convenience to their customers. If the service is seamless, then they’ll have the push to make payments digitally.” For those looking for inspiration, he pointed at PickMe as a shining example of a seamless service that helps drive the adoption of digital payments. 

      You may also like

      She Loves Tech Sri Lanka Hatch

      She Loves Tech: The World’s Largest Competition for Women in Tech Returns to Sri Lanka

      August 5, 2022
      Gapstars Recognized Among the Top 10 Great IT Workplaces in Sri Lanka

      Gapstars Recognized Among the Top 10 Great IT Workplaces in Sri Lanka

      June 16, 2022
      Explorer Expanded: The Evolution of the Gapstars Explorer Series

      Explorer Expanded: The Evolution of the Gapstars Explorer Series

      June 7, 2022
      Diversity Collective Sri Lanka

      Diversity Collective Lanka & IFC Launch Partnership to Improve Inclusion in Sri Lankan Corporates

      May 30, 2022

      For many years, Sri Lanka has been a predominantly cash-based economy. But over the past year and a half, its dominance has been shaken. Stuck at home and reliant on online services like PickMe to source our daily needs, we’ve increasingly opted for digital payments. From its earliest days, PickMe has encouraged several forms of digital payments. 

      Now, the company has announced it’ll be introducing support for LankaQR code payments. The move brings several benefits to its many users, helps further drive the adoption of digital payments, and even tackles the foreign exchange crisis. Here’s what it all means for you. 

      Creating a Safe & Secure Cashless Experience for Customers

      The quick and easy way to make QR code payments on PickMe

      So how exactly does one make a QR code payment on PickMe? You now have a new cashless payment option when it comes to moving around or getting groceries delivered. All you have to do is use a financial service of your choice and simply scan the QR code that appears on the driver’s app. 

      “In the past, merchants who had any form of QR-based payment system required different codes for different digital wallets as used by their customers,” explains the Chief Operating Officer at PickMe, Isira Perera. However, the introduction of LankaQR eliminated this issue by introducing a standard format that all payment providers in Sri Lanka can utilise. As such, its addition to the app means PickMe now offers an additional fast, secure, and convenient cashless experience in a post-pandemic world.

      Breaking barriers of entry for drivers and merchants

      PickMe’s many efforts to remove barriers drivers and merchants faced in adopting digital payments have allowed them to become part of the financial system and build more prosperous lives for themselves.

      If you look at the PickMe ecosystem today, you’ll find that it consists of several stakeholders. They include small businesses like home bakers, single mothers ferrying passengers in tuks, and so many more. By eliminating the barriers for them to adopt different methods of digital payments, the company is helping its most important stakeholders – the drivers and merchants. PickMe spent considerable effort to ensure the drivers and merchants delivering the service to you enjoyed the same level of benefits. 

      Speaking to Arteculate, Isira shared an example, “One thing with digital payments is a fee charged by card providers for each transaction.” These typically range from 1% to 3%, which may seem small but eats into hard-earned profits. “Very early on, PickMe decided to bear this cost to support our drivers and merchants embrace digital payments,” continued Isira. Moves like the above have gone a long way to ensure drivers enjoy the same levels of convenience as customers with digital payments. Yet, this is still only scratching the surface. 

      The use of digital payment mechanisms offers them a formal statement reporting their income. As such, drivers and small merchants can access the financial system to obtain financing to scale up their businesses.“This has enabled some of our drivers to finance bigger vehicles to move up vehicle categories on the platform, increasing their monthly income. Likewise, small merchants can obtain loans to upscale their business, which was impossible when they operated on cash alone,” Isira points out. 

      A much-needed boost for the Sri Lankan economy

      Isira Perera - PickMe COO
      To help address Sri Lanka’s economic crisis, the COO of PickMe, Isira Perera, stated that the company opted to work with LOLC to develop an entirely local payment network to support LankaQR payments on the app.

      While Sri Lanka struggles with depleting foreign reserves, there’s a strong push to strengthen the local economy. As we saw above, it’s evident that pushing digital payments goes a long way towards developing the economy. However, the nation struggles with large unseen amounts of money flowing out every day. This outflow is due to the minuscule transaction fees charged in US dollars by foreign payment providers. 

      Recognising this invisible outflow of funds and determined to support the Sri Lankan economy, PickMe had partnered with LOLC to build an entirely local payment network to support LankaQR payments. The company believes this creates a greater incentive for the public to choose a regional platform for mobility and delivery services. “With LankaQR and the enhanced cashless system, we are hoping to strengthen our local economy and community. This new feature establishes a clear process to ensure money remains within the country and guarantees a positive impact on the economy.”

      The introduction of LankaQR payments on the app brings several benefits to everyone across the PickMe ecosystem. It is also part of the company’s efforts to increase the adoption of digital payments in Sri Lanka. When looking beyond Colombo and into rural areas, Isira notes strong smartphone penetration in such areas. For this reason, he’s optimistic about the future. 

      Such technologies will eliminate barriers to open the financial system to the unbanked. Thus, allowing them to build a more prosperous life for themselves. Paving the way forward for such a future are companies like PickMe by offering a robust and helpful set of services that entice the once hesitant to take the leap and embrace a cashless digital future. 

      Tags: LankaQRPickMeSponsored
      ShareShareSend
      Previous Post

      The Role of Leaders in Improving Gender Diversity and Inclusion: In Conversation With Lord Davies

      Next Post

      Founder of the Year: Kanishka Weeramunda’s Journey Spearheading the Fintech Industry in Sri Lanka

      Arteculate

      Arteculate

      Arteculate is your guide to the Asian tech industry. We give you unparalleled insights, accurate, local tech news, thoughtful features and sometimes scathing opinions on where things are headed. Stay tuned for the best of Asia!

      Recommended Stories

      She Loves Tech Sri Lanka Hatch
      News

      She Loves Tech: The World’s Largest Competition for Women in Tech Returns to Sri Lanka

      August 5, 2022
      Gapstars Recognized Among the Top 10 Great IT Workplaces in Sri Lanka
      News

      Gapstars Recognized Among the Top 10 Great IT Workplaces in Sri Lanka

      June 16, 2022
      Explorer Expanded: The Evolution of the Gapstars Explorer Series
      News

      Explorer Expanded: The Evolution of the Gapstars Explorer Series

      June 7, 2022
      Diversity Collective Sri Lanka
      News

      Diversity Collective Lanka & IFC Launch Partnership to Improve Inclusion in Sri Lankan Corporates

      May 30, 2022
      Food Delivery through Electric Mobility: PickMe in Collaboration with Rhoda
      News

      Food Delivery through Electric Mobility: PickMe in Collaboration with Rhoda

      May 26, 2022
      PickMe Carpooling Sri Lanka
      News

      PickMe Launches Carpooling in Sri Lanka with PickMe Hitch

      May 25, 2022
      Leave Comment

      Recommended Stories

      Fortude | Diversity | Great Place to Work

      A Decade Later: Fortude Continues To Spearhead Initiatives for an Inclusive Culture Where ‘Everyone Belongs’

      August 12, 2022
      Anycover Insuretech eCommerce Singapore

      How Singapore-based Startup Anycover is Reinventing Extended Warranties

      August 10, 2022
      She Loves Tech Sri Lanka Hatch

      She Loves Tech: The World’s Largest Competition for Women in Tech Returns to Sri Lanka

      August 5, 2022
      Creative Software

      22 Years of Resilience and Growth: Inside Creative Software

      August 4, 2022
      Surer Insuretech Singapore

      How Surer is Uplifting the Singaporean Insurance Industry

      July 28, 2022
      Klaytn | Web3 | Asia | Blockchain

      Klaytn is the Web3 Gateway to a New Creator Economy in Asia

      July 21, 2022

      Popular Stories

      • Coca Cola and Avocado: A Partnership Rewarding Food Experiences

        Coca Cola and Avocado: A Partnership Rewarding Food Experiences

        0 shares
        Share 0 Tweet 0
      • Rhoda: The all-electric Sri Lankan Roadster

        0 shares
        Share 0 Tweet 0
      • Spotify Expands Into Sri Lanka: Exploring What It Has To Offer

        0 shares
        Share 0 Tweet 0
      • Leveraging the Power of AI: How EBI is Building a Digitally Inclusive Sri Lanka

        0 shares
        Share 0 Tweet 0
      • The DirectPay Story: Building a Virtual Bank One Digital Brick at a Time

        0 shares
        Share 0 Tweet 0
      No Result
      View All Result
      • News
      • Premium
      • Features
      • Startups
      • Events
      • Hotpicks
      • Community
      • Contributor
      • Billboard

      © 2020 Arteculate™ All Rights Reserved.

      Are you sure want to unlock this post?
      Unlock left : 0
      Are you sure want to cancel subscription?