Damn cool. Can’t wait to try it out. Finally the Central Bank has budged (on mobile companies not being banks and not being able to handle money) and we should be able to use our phone for payments, and sales. This is the promise, I haven’t yet seen the system, but it sure looks promising.
This has benefits for people trying to do business online, but also for the unbanked. If done right, mobile payments can really kickstart some growth.
Customers could load cash from 10,000 outlets around Sri Lanka to their ‘eZ Cash’ branded mobile account or transfer money from an internet banking account.
They could also withdraw up to 10,000 rupees a day from the outlets with the cashier being a human teller, Wijayasuriya said. The same network of dealers that are now doing mobile top ups for prepaid phone customers would offer the mobile wallet service.
All registered Dialog customers could open a 10,000 rupee wallet through the phone with no additional documentation and no registration fee. An account with a 25,000 rupee balance would need additional verification.
The mobile payment service can be used to pay utility bills or to buy goods and services online or even make over the counter payments at thousands of shops across the island, Fariq Cader, head of Dialog’s e-ecommerce service said.
Money could also be transferred to another wallet holder. (LBO)