Mobile payment solutions company, PayMate launched MCommerce services in tie-up with Sri Lanka’s Bank of Ceylon (BOC) offering the six million customers of the bank ease and convenience for bill payments, funds transfers and balance enquiry via SMS.

Person to person funds transfer and balance enquiries will also be possible through the service. Moreover the service does not require any GPRS/EDGE connectivity or application download and is based purely on SMS.

Sam Samarasinghe, Deputy General Manager, Product Development and Branches, Bank of Ceylon stated, “BOC PayMate raises the potential of the mobile phone to a new dimension, by giving impetus to the drive towards banking without frontiers”.

Ajay Adiseshann, MD and Founder, PayMate says, “It is exciting to see Sri Lanka's premier bank commercially rollout PayMate's mobile banking and payment services for bill payments and intra bank funds transfers to its 6m customer base. The next step would be to offer mobile money transfer services to the unbanked masses of Sri Lanka via the same platform which would be of tremendous value from a financial inclusion standpoint."