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.