How to get a Payment Gateway In Sri Lanka without a BR
There is a way to get an internet payment gateway (IPG) for your business even if you don’t have a business registration at this initial stage of your online business. Here are some internet payment gateway providers, which offers their services without a business registration.
OnePay Payment Gateway – onepay.lk
Document Requirements
- NIC
- Facebook Page/Website
- Professional/Academic Certificate
Pros
- Payment Links
- Lanka QR
- Web Application
- Mobile Application [iOS/Huawei/Android]
- Minimum Setup Fee [Rs 1500/]
- Free Plan for Small Businesses [No Monthly Fee]
- Plugin(s) Available for WordPress
Cons
- Checkout page UI is not user friendly and not optimized for mobile devices
- 3 Days for Settlements
- Lot of information to be filled in when creating Payment links
- Commission Rate 2.5%
- No Static QR [Only Dynamic QR]
- Free Plan Transaction limit per Transaction Rs 50,000/=
- Free Plan Transaction limit per Month Rs 100,000/=
Ipay Merchant by LOLC – ipay.lk/merchant
Document Requirement
- NIC
- LOLC Merchant Savings Account needs to be create
- Facebook Page/Website
Pros
- Payment Links
- Lanka QR [Dyanamic and Statics]
- LankaQR Settlement on Real-Time
- Web Application
- Mobile Application[ios/Huawei/Android]
- No Setup Fee
- No Monthly Fee
- Daily Settlements
- Plugins Available
Cons
- Web UI is not user friendly
- Commission Rate 2.5%
- LOLC Merchant Savings Account need to be create
Genie Business by Dialog – genie.lk/genie-business
Document Requirement
- NIC
- Facebook Page/Website
Pros
- Self onboarding Merchants
- Payment Links
- Lanka QR [Statics]
- Web Application
- Mobile Application[iOS/Huawei/Android]
- No Setup Fee
- No Monthly Fee
- No Transaction Limit per Transaction and for the Month
- Daily Settlements
- E-Store
- Checkout page Customization
- Tax Handling / Transaction fee Handling
- Branding Handling
- Refunds handling
- Order Management
- Web hooks and API
- Plugins Available
Cons
- Commission Rate 2.5%
- Customer Support is slow
Frequently asked questions
What is a payment gateway?
A payment gateway is a network through which your customers transfer funds to you. Payment gateways are very similar to the point-of-sale terminals used in most of the shops and stores. A service provided by an E-commerce application service provider which authorizes credit/debit card or direct payment processing.
What is an online store?
An Online store is a web based outlet containing the list of products to sell, information on products and stocks, prices and a function for ordering through the internet.
Is a business registration required for a Payment Gateway?
In some cases, no. But, Its recommended to have a business registration of some sort (registered as a limited liability company or Sole Proprietorship registration).
Do I need a bank account to sign up for a Payment Gateway?
Yes, you must have a settlement account(personal or a business) to remit your payout.
How long does the settlement take to be credited to the bank account?
It Depends on the Internet payment gateway provider, Usually it takes about 2 Business Days to process.
