The partnership will manifest in a co-branded FriMi-Samsung Platinum Debit MasterCard, offered to the retailers as a convenient and personalized value addition to their FriMi experience.
Samsung retailers will now receive exclusive FriMi sign-up offers when getting onboard the platform and be able to manage all money matters and banking via FriMi; eliminating the need for multiple separate apps for banking, payments & money management.
By allowing Samsung retailers to become merchants, Nations Trust Bank adds value by enabling a digitized eco-system amongst the retailer network, where they can receive real-time incentive payments, provide cash transfer facilities, and even facilitate LANKAQR.
“FriMi is the front runner in digital banking in Sri Lanka, and we are glad to partner with Samsung, the leading smartphone brand in Sri Lanka to provide their loyal retailer network state-of-the-art modern banking convenience right within their smartphones with FriMi for business.
FriMi’s line up of convenient financial tools combined with the co-branded MasterCard Debit Card and the commercial banking platform with Nations Trust Bank will help them manage the digital and physical worlds of money management side-by-side, giving them a wholesome experience.” Randil Boteju, Senior Vice President - Sales & Digital Banking of Nations Trust Bank said, commenting on the partnership.
In addition to having the convenience of adding other bank accounts to FriMi and topping up the account from one place, retailers will also have access to FriMi savings products including ‘savings pots’, ’round-up savings’, and ‘digital fixed deposits’, thereby earning interest income on the savings.
These loyal retailers and distribution partners will be able to adapt to the new developing world, which in return will be aligned with the rewards and recognition structure of Samsung.
Kevin SungSu YOU, Managing Director, Samsung Sri Lanka said:
“Samsung is excited to introduce a first of its kind co-branded Platinum Debit MasterCard in partnership, which will provide countless benefits to our loyal retail partners in Sri Lanka.
One of Samsung’s core values is co-prosperity and over the years we have worked very closely with partners and have grown together.
At Samsung, we will always work towards elevating their experience and this partnership with FriMi is just one of the ways in which we want to honor the efforts taken by our retail partners to make Samsung the No.1 smartphone brand in Sri Lanka,” he added.
FriMi is a fully-fledged digital banking experience with ground-breaking products and services that are designed and developed to delight customers thus providing novel experiences.
It was ranked amongst the Top 30 Best Digital Financial Services Providers in the Asia Pacific, Middle East, and Africa as one of the Best Digital Banks & Financial Institutions by The Asian Banker.
Named one of the Top 10 E-Commerce brands of Sri Lanka, FriMi was showcased in the LMD Brands Annual Report 2020 as compiled by Brand Finance Lanka.
It is available on Android, iOS and Harmony OS and anyone in Sri Lanka above the age of 18 years can get onboard FriMi by downloading the app.
FriMi is powered by Nations Trust Bank PLC which is among the top 15 business establishments in Sri Lanka as ranked by Business Today.
Strongly focused on digital empowerment through cutting-edge digital banking technologies, has managed to pioneer many innovative customer centric banking solutions such as API banking and banking at your door step.
The bank is an issuer and sole acquirer of American Express Cards in Sri Lanka.
The Bank operates 96 branches across the country and has an ATM network covering 127 locations and 48 Cash Deposit & Withdrawal Machines, plus more than 3,700 ATMs on the Lanka Pay Network.
Businesscafe Image - Standing from left to right: Mr. Priyantha Talwatte, Director/ CEO of Nations Trust Bank & Mr. Kevin SungSu YOU, Managing Director of Samsung Sri Lanka