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Top 10 Best Payment Gateways in Sri Lanka

Get complete information on the best payment gateway service providers in Sri Lanka.

Top-10-Payment-Gateways-Devathon

Top 10 payment gateways you should choose for your

E-Commerce store in Sri Lanka?

Payment Gateway Sampath Seylan Commercial HNB PayHere WEBXPAY 2Checkout BitPay Genie mCash
Setup Fee (LKR) 15,000 20,000 75,000 15,000-25,000 None 15,000 None none none none
Recurring fee (LKR/annum) 75,000 30,000 90,000 60,000-108,000 39/transaction (basic) | 35,880 (plus) | 119,880 (premium) 21,600 – 47,880 None (pay as you go model) none none none
Commission per transaction 3% – 5% 4% 4% 4% 3.9%, 2.99% or 2.9% 2.5% – 3% upwards 3.5% + $0.35 | 4.5% + $0.45 | 6.0% + $0.60 1% 1.50% 1%
Payment methods accepted All local and international Master or Visa Credit & Debit Cards Master, Visa and other cards all major credit and debit cards. international debit, credit, Visa and MasterCard Visa, MasterCard, American Express, Discover, Diners Club, Genie, Frimi, eZcash, mCash, Sampath Vishwa Visa, MasterCard, American Express, Discover, eZcash, mCash, Virtual Wallet, Sampath Vishwa Almost all credit and debit cards, internet banking all major credit and debit cards. Any VISA/ Mastercard -Credit/ Debit Card, Savings/Current Account, Mobile Money All major cards, internet banking, mobile sms, wallet
Fraud & Risk management Yes Yes Advanced Yes Yes Yes Yes Yes Yes Average
International currencies accepted USD, LKR, EUR, etc. multi-currency transactions multi-currency transactions LKR, USD, EUR, GBP LKR, USD, GBP, EUR, AUD All Major Currencies Over 200 currencies 12 Currencies, Cryptocurrency 12 currencies LKR, USD, GBP, EUR, AUD, INR
Set up type Online Online Online Online Online Online Online Online Online Online
Onboarding & Approvals time 1-2 week 4-5 days 1 week Less than 1 week 1 week 2-4 days 2 days 1-2 days 1 week 3 days
Recurring Billing Yes Yes Yes Yes Yes Yes Yes Yes No No
Charges on Refunds No extra charges 150 per transaction No extra charges Minor Minor No Extra charges
SDK Stacks PHP4 / PHP5 , ASP / ASP. Net , JSP , JAVA Java, ASP.net, Php Javascript, Mobile for Android and IoS Php Java, Ruby, .net, C#, Python Java, PhP, Node.js, C#.net, Ruby, Python, .net .net C Sharp, Java, Php C#, Python, Php, Java
Settlement time Less than 2 days 1 day 2 days 1day 2 days 1 Day 1 Day 2 days Less than 2 days 2 days
Payouts support No No No No Yes Yes Yes No no No
Split payments No No No No Yes Yes Yes only for Cryptocurrency no No

1. Setup Fee (LKR)

Payment Gateway Setup Fee (LKR)
Sampath 15,000
Seylan 20,000
Commercial 75,000
HNB 15,000-25,000
PayHere None
WEBXPAY 15,000
2Checkout None
BitPay none
Genie none
mCash none

2. Recurring fee (LKR/annum)

Payment Gateway Recurring fee (LKR/annum)
Sampath 75,000
Seylan 30,000
Commercial 90,000
HNB 60,000-108,000
PayHere 39/transaction (basic) | 35,880 (plus) | 119,880 (premium)
WEBXPAY 21,600 – 47,880
2Checkout None (pay as you go model)
BitPay none
Genie none
mCash none

3. Commission per transaction

Payment Gateway Commission per transaction
Sampath 3% – 5%
Seylan 4%
Commercial 4%
HNB 4%
PayHere 3.9%, 2.99% or 2.9%
WEBXPAY 2.5% – 3% upwards
2Checkout 3.5% + $0.35 | 4.5% + $0.45 | 6.0% + $0.60
BitPay 1%
Genie 1.50%
mCash 1%

4. Payment methods accepted

Payment Gateway Payment methods accepted
Sampath All local and international Master or Visa Credit & Debit Cards
Seylan
Master, Visa and other cards
Commercial
all major credit and debit cards.
HNB international debit, credit, Visa and MasterCard
PayHere Visa, MasterCard, American Express, Discover, Diners Club, Genie, Frimi, eZcash, mCash, Sampath Vishwa
WEBXPAY Visa, MasterCard, American Express, Discover, eZcash, mCash, Virtual Wallet, Sampath Vishwa
2Checkout Almost all credit and debit cards, internet banking
BitPay
all major credit and debit cards.
Genie Any VISA/ Mastercard -Credit/ Debit Card, Savings/Current Account, Mobile Money
mCash All major cards, internet banking, mobile sms, wallet

5. Fraud & Risk management

Payment Gateway Fraud & Risk management
Sampath Yes
Seylan Yes
Commercial Advanced
HNB Yes
PayHere Yes
WEBXPAY Yes
2Checkout Yes
BitPay Yes
Genie Yes
mCash Average

6. International currencies accepted

Payment Gateway International currencies accepted
Sampath USD, LKR, EUR, etc.
Seylan
multi-currency transactions
Commercial
multi-currency transactions
HNB LKR, USD, EUR, GBP
PayHere LKR, USD, GBP, EUR, AUD
WEBXPAY All Major Currencies
2Checkout Over 200 currencies
BitPay 12 Currencies, Cryptocurrency
Genie 12 currencies
mCash LKR, USD, GBP, EUR, AUD, INR

7. Set up type

Payment Gateway Set up type
Sampath Online
Seylan Online
Commercial Online
HNB Online
PayHere Online
WEBXPAY Online
2Checkout Online
BitPay Online
Genie Online
mCash Online

8. Onboarding & Approvals time

Payment Gateway Onboarding & Approvals time
Sampath 1-2 week
Seylan 4-5 days
Commercial 1 week
HNB Less than 1 week
PayHere 1 week
WEBXPAY 2-4 days
2Checkout 2 days
BitPay 1-2 days
Genie 1 week
mCash 3 days

9. Recurring Billing

Payment Gateway Recurring Billing
Sampath Yes
Seylan Yes
Commercial Yes
HNB Yes
PayHere Yes
WEBXPAY Yes
2Checkout Yes
BitPay Yes
Genie No
mCash No

10. Charges on Refunds

Payment Gateway Charges on Refunds
Sampath
Seylan
Commercial
HNB
PayHere No extra charges
WEBXPAY 150 per transaction
2Checkout No extra charges
BitPay Minor
Genie Minor
mCash No Extra charges

11. SDK Stacks

Payment Gateway SDK Stacks
Sampath PHP4 / PHP5 , ASP / ASP. Net, JSP, JAVA
Seylan
Commercial
HNB Java, ASP.net, PHP
PayHere Javascript, Mobile for Android and IoS
WEBXPAY PHP
2Checkout
Java, Ruby, .net, C#, Python
BitPay Java, PHP, Node.js, C#.net, Ruby, Python, .net
Genie .net C Sharp, Java, PHP
mCash C#, Python, PHP, Java

12. Settlement time

Payment Gateway Settlement time
Sampath Less than 2 days
Seylan 1 day
Commercial 2 days
HNB 1day
PayHere 2 days
WEBXPAY 1 Day
2Checkout 1 Day
BitPay 2 days
Genie Less than 2 days
mCash 2 days

13. Payouts support

Payment Gateway Payouts support
Sampath No
Seylan No
Commercial No
HNB No
PayHere Yes
WEBXPAY Yes
2Checkout Yes
BitPay No
Genie No
mCash No

14. Split payments

Payment Gateway Split payments
Sampath No
Seylan No
Commercial No
HNB No
PayHere Yes
WEBXPAY Yes
2Checkout Yes
BitPay Only for Cryptocurrency
Genie No
mCash No

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Choosing the best Payment Gateway provider in Sri Lanka

Choosing the best payment gateway provider for your eCommerce website is a tedious process. While choosing, you should ensure that customer payment experience is smooth, fast and secure. This helps to increase trust among the customers and come back to purchase other products or services in the future.

Here are six factors to consider before selecting the payment gateway:

Government-Regulations

Government Regulations

The Central Bank of Sri Lanka (CBSL) plays a major operational role both in the payment systems and securities settlement systems in Sri Lanka. The Payment Gateway Provider should be in compliance with CBSL Regulations. The CBSL issues licences, regulates, and supervises all major financial institutions including payment Gateway Providers.

Multi-Currency-And-International Usage

Multi-currency and International usage

The Payment Gateway provider that accepts and processes payments apart from LKR such as USD, EUR, GBP, AUD, INT helps in opening your business to a multitude of multi-currency transactions & Enhancing reach to the market. Allowing international customers to pay in their local currency will lead to increased sales and trusting customer relationships.

Mobile-App-And-CMS-Support

Mobile App and CMS Support

As people are experiencing the digital revolution, they are opting to shop online through their smartphones and tablets apart from computers. The gateway that you select for your site should provide a solution that will enable your customers to shop hassle free from their respective mobiles through a dedicated app.

Required-Documentation

Required Documentation

The Payment gateway Provider should have digital Merchant Onboarding which includes an Easy & faster onboarding process without cumbersome documents and red tape. A platform that is agile, supports 100% automated onboarding and requires KYC and other usual verification documents should be chosen.

Payment-And-Customer Support

Payment and customer support

Always check whether the Merchant Support team is available 24/7 for any payment or technical-related questions. There are some Payment Gateway providers that provide customer support in all three major languages in Sri Lanka. The provider should be accessible at all times. Their turnaround time should be as minimum as possible.

Safety-&-Security-Features

Safety & Security Features

In Sri Lanka, a payment gateway provider should be fully certified, Central bank approved, bank-backed secured, needs to be PCI-DSS compliant and fully secured with the highest standards of security such as SSL 128-bit encryption etc. The provider must develop fraud management and install 3D Secure protocol for authentication and safety of customers.

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