Sampath Bank Partners with Bancstac to Launch Alipay+ Payment Acceptance for Merchants

Sampath Bank PLC announced a strategic partnership with global payments technology company Bancstac to introduce Alipay+ payment acceptance across both brick and mortar and e-commerce merchant channels in Sri Lanka.

The initiative builds on the Bank’s existing collaboration with Ant International, which enabled Alipay acceptance at offline merchants. Following the launch of Alipay+, Sampath Bank now facilitates payment acceptance from consumers in China using Alipay, and consumers of partner wallets from Singapore, Malaysia, South Korea, Thailand, Vietnam, the Philippines, Indonesia, Pakistan, the European Union, and others. The Alipay+ ecosystem supports more than 25 global payment partners providing businesses with access to over 1.5 billion accounts worldwide.

Chirath Samarasekara, Head of Card Centre at Sampath Bank, commented, “The rise in inbound travel and the growing popularity of Alipay+ wallets create fresh business opportunities for our merchants, simplify the payment experience and strengthen security for businesses and customers alike.”

Sampath Bank continues to innovate and deliver market firsts by enabling merchant commerce in Sri Lanka and across borders with seamless US dollar payments acceptance from Alipay+ and partner wallets across Asia, with direct US dollar funds settlement into bank approved merchant foreign-currency accounts. In addition, Sampath Bank helps businesses improve operational efficiency through the bank’s comprehensive transaction management and reconciliation portal, incorporating real‑time transaction monitoring and fraud mitigation with instant email and SMS notifications. Merchants can register multiple notification emails and mobile numbers to receive real-time confirmations, promoting transaction transparency and confidence to complete transactions between merchants and consumers. Businesses are also able to refund US dollars to an Alipay and partner wallet in the event a transaction needs to be reversed.

Evan Lau, CEO of Bancstac, remarked, “Our partnership with Sampath Bank continues to grow from strength to strength as we continue to deliver critical technology infrastructure that successfully achieves payment innovations at speed.  Enabling Alipay+ and partner wallets across all Sampath Bank payment channels exemplifies the teamwork and collaboration of both parties. Bancstac’s deployment of device agnostic technology infrastructure to enable Alipay+ online and offline payment acceptance solutions has become another market‑first innovation launched by Sampath Bank for the benefit of its merchant network.”