mChek (www.mchek.com) , an ISO 27001 company, today announced that its patent-pending, on-demand mobile payments solution, mChek/Payments, has been commercially introduced in Sri Lanka by Dialog Telekom, the leading telecom operator, in partnership with NDB Bank, one of the largest private sector commercial banks  in Sri Lanka. This is the first commercial launch of a Card Present mobile payment platform in the world.

The mChek/Payments platform is immediately available to all customers of Dialog and NDB Bank and enables secure payments ranging from utility bills/pre-paid top-ups, over-the-counter and remote commerce, and mobile banking. Merchants, who get the mChek-enabled SIM card, can turn their mobile phones into Point of Sale Terminals and Utility bill payment kiosks. Additional exciting services are being introduced in coming months.

“Payment through mobile phones is a major new frontier for the Sri Lankan consumer,” said Dr. Hans Wijayasuriya, Chief Executive of Dialog Telekom. “Dialog is strongly committed to deploying wireless technologies towards empowering Sri Lankan citizens. Mobile Payments facilitated via mChek’s SIM card resident solution, will add a new dimension to this philosophy of inclusive technology applications – making banking and electronic payment services available and immediately accessible to millions of people.”

“NDB Bank is committed to bringing secure banking and payments to merchants and consumers across all segments – urban or rural, banked or un-banked, and the mobile phone allows us to do this in a cost effective manner.” said Nihal Welikala, CEO of NDB Bank. “mChek/Payments has been developed to the exacting standards of the banking industry and helps banks take the next step from plastic to mobile in a seamless manner, consistent with our existing systems, business processes and business model.”

Sri Lanka has a large cash-based market, although credit and debit card usage has slowly been rising. But as is the case in most emerging economies, there has been a dramatic uptake of the mobile phone, both in urban as well as rural markets, presenting an opportunity for electronic payments. However a major challenge has been in developing customer-friendly solutions utilizing available mobile technology that comply with existing banking industry practices, government regulations and specifications.

“Sri Lanka is a market known for innovation and we are excited to introduce mChek in this market”, said Sanjay Swamy, CEO of mChek. “Consumers in Sri Lanka can leap-frog the age of plastic cards and move directly into the mobile payments generation, and we are delighted to work with Dialog and NDB Bank in this effort and enable this service to a base of more than 3.5Million users.”

Sourced From: 20 : 20 Media Pvt Ltd