Now Reading: Efficiency in E-Transactions
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Efficiency in E-Transactions
Efficiency in E-Transactions
Trust in our payment network is essential. We use strong encryption and security protocols across all platforms, collaborating with regulators to exceed local standards like Sri Lanka’s Data Protection Act. We comply with PCI-DSS and ISO 27001:2022 standards, continuously monitor security, and stay vigilant against cyber-attacks to ensure robust protection.
Mr. Kanishka Weeramunda
Intricate tapestry of convenience is transparently witnessed in digital payment methods. The unique needs, preferences and behaviors of individual customers has emerged as a defining factor in the success of modern e-transaction strategies.
Interaction of factors determining the directions of development and convenience of the payment system is understood through the interview conducted with
Mr. Kanishka Weeramunda,
Founder/Director
CEO of Pay Media (Pvt) Ltd and
Director/CEO of Direct Pay (Pvt) Ltd
Co-Founder of Square Hub (Pvt) Ltd.
Q : WHAT DO YOU BELIEVE IS THE MOST IMPORTANT LEADERSHIP QUALITY WHEN HEADING A NATIONAL PAYMENT INFRASTRUCTURE ORGANIZATION, ESPECIALLY IN A RAPIDLY EVOLVING DIGITAL ECONOMY?
As the founder of PayMedia and DirectPay, I believe the most important leadership quality is customer-centric vision combined with technological foresight. Our role is not just to innovate but to understand and address the needs of businesses and individuals in a rapidly digitizing economy.
Q : HOW DO YOU FOSTER A CULTURE OF INNOVATION, TO STAY AHEAD OF GLOBAL TRENDS IN THE PAYMENT INDUSTRY?
At Pay Media and Direct Pay, creativity is at the core of our culture. We achieve this by doing a lot of research and development to figure out the localization reequipments’ and create a knowledge culture within the organization. We are Constantly engaging with global and local industry trends, fostering collaborations with international tech leaders, and integrating their best practices.
Q : HOW DO YOU ENSURE COLLABORATION AND ALIGNMENT BETWEEN VARIOUS STAKEHOLDERS, INCLUDING BANKS, FINANCIAL INSTITUTIONS, AND REGULATORY BODIES, IN EXECUTING YOUR STRATEGIC VISION FOR THE PAYMENT NETWORK?
Sri Lanka is 95% a cash market by inspiring all the stake holders who has vested interest has to be bought together innovation becomes your main source and first to the market will get the competitive advantage to everyone so we promote co creation and we join hands with the industry to attack our enemy cash.
Q : HOW DOES A BUSINESS MODEL SUPPORT THE FINANCIAL SUSTAINABILITY OF THE PAYMENT NETWORK, AND HOW DO YOU HANDLE THE SCALABILITY OF INFRASTRUCTURE AS DEMAND GROWS?
Infrastructure is managed by various take holders and large pull of resources are available the challenge is adaptability we join to work as a fintech community to enhance awareness and availability. Focusing on partnerships expanding our user base through collaborations with financial institutions and merchants.
Q : WHAT MEASURES ARE IN PLACE TO ENSURE THE PROTECTION OF USER DATA AND THE PREVENTION OF CYBER FRAUD IN YOUR PAYMENT NETWORK, ESPECIALLY GIVEN THE INCREASING COMPLEXITY OF CYBER THREATS?
Ensuring trust in our payment network is non-negotiable. We have implemented great encryption and robust security protocols across all platforms. Collaboration with regulators to meet and exceed local compliance standards like the Data Protection Act in Sri Lanka. We have obtained the PCI-DSS standards we also practicing iso 27001 2022 we regularly monitor security and fully aware of the cyber-attacks.
Q : HOW DO YOU ENSURE COLLABORATION AND ALIGNMENT BETWEEN VARIOUS STAKEHOLDERS, INCLUDING BANKS, FINANCIAL INSTITUTIONS, AND REGULATORY BODIES, IN EXECUTING YOUR STRATEGIC VISION FOR THE PAYMENT NETWORK?
As we are also a company that started as a startup to scale up to an enterprise, we understand the innovation happens most prominent in the startup so we work with startups very closely to come up with innovative solutions. We open our APIs to enable fintech’s and developers to build on our platform, fostering an ecosystem of innovative solutions.
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