The interface was executed for the seamless payments of PickMe, a brand of Digital Mobility Solutions Lanka (Private) Limited.
The solution consists of routing real-time fund transfers to all banks connected to the Common Electronic Fund Transfer (CEFT) clearing system, which will allow funds to be credited to the driver partners’ accounts instantaneously, regardless of who they bank with.
This application interfaced solution empowers driver partners to go beyond traditional banking hours, allowing the collection of funds to their respective bank accounts on a 24/7 basis, which are then ready for withdrawal through the closest ATM.
Commenting on the API solution, Roger Norton, Head of Transaction Banking Sri Lanka, said,
“At Standard Chartered, we believe that innovative banking solutions are best proven when our clients are able to leap forward in their strategic business plans.
Our API-driven solution provides PickMe with a transaction platform that goes beyond the boundaries imposed by traditional banking services, encouraging the inclusion of more driver partners into the financial ecosystem.
We are proud to have been able to make this breakthrough with PickMe, one of the largest and most sophisticated companies in Sri Lanka.”
As a result of this implementation, PickMe’s driver partners can now initiate payment requests at any time instantly with a single click through the ride-share company’s mobile application.
The API solution also sends real-time payment updates directly to the company’s in-built payment tracking tool, allowing for a complete integration throughout the payment creation and fulfilment process.
“Our driver partners are an absolute critical part of PickMe’s operations and we’re grateful to Standard Chartered for creating a long-term solution that caters to their financial needs, especially given the current economic situation.
In addition to our existing driver partners being able to obtain their account receivables in real-time, thanks to the availability of the CEFT transfer mechanism, our potential driver partners can also easily come on board with PickMe, Sri Lanka’s number one ride-sharing application, regardless of who they bank with,” said Shifaz Riyaz, Chief Financial Officer of PickMe.
Requiring zero manual intervention from the company, this API solution merges the efficiency of routing payment requests directly through the PickMe application with the real-time transaction processing of the LankaPay instant payment mechanism (CEFT).
Commenting on the Bank’s real-time seamless connectivity solution for PickMe, Devaka Wijedoru, Head of Transaction Banking Implementation, Standard Chartered Sri Lanka said,
“We’re delighted to be able to offer this real value addition to PickMe and their loyal driver partners.
By giving PickMe the real-time connection for information flow, we are able to empower drivers to manage their own payments with a single click through the app, bridging a crucial gap in service.
We would like to invite other forward-thinking organisations to also take advantage of our innovative solutions and enhance their digital business operations that will not only benefit their clients, but the local community as a whole.”