Mastercard strengthens Sri Lanka’s digital payments ecosystem with two major launches
Daily Mirror: Mastercard has announced the launch of two new payment solutions in Sri Lanka—Soundbox and Cloud Commerce marking a major step forward in expanding access to simple, secure, and affordable digital payments for small enterprises.
Unveiled at the recent Access Unlocked Summit, the new solutions reiterate Mastercard’s commitment to helping merchants participate confidently in the country’s growing digital economy.
Developed in collaboration with Ceylon Business Appliances (CBA), Commercial Bank of Ceylon, Payable Pvt Ltd, and Hatton National Bank (HNB), Soundbox is a first for Sri Lanka and allows merchants to accept multiple payment types including QR and card payments using a single piece of equipment.
A compact, easy-to-use device, Soundbox delivers instant audio confirmation for every successful transaction, helping merchants verify payments in real time without slowing down their business. Designed with speed and simplicity in mind, the solution reduces checkout delays and removes the need for multiple payment machines.
Priced well below traditional point-of-sale (POS) devices, Soundbox is set to further accelerate digital payment acceptance among small businesses that have previously found POS infrastructure too costly or complex.
In a parallel launch, Mastercard and Payable Pvt Ltd, in collaboration with Commercial Bank of Ceylon, introduced the Cloud Commerce solution, with a live transaction demonstrated at the event.
With Mastercard Cloud Commerce, a merchant’s own NFC enabled smartphone becomes a secure payment terminal eliminating the need for dedicated hardware. The solution supports Tap & Go card payments and QR transactions, making it ideal for mobile businesses and merchants on the move.
Built for flexibility and scale, Cloud Commerce also offers multi language support and digital transaction records, helping merchants manage payments efficiently in fast paced environments. Together, these launches represent a significant milestone in Mastercard’s efforts to expand digital payment access and support financial inclusion in Sri Lanka.
OSL take:
Sri Lanka’s ongoing digitisation drive is gathering pace, with the latest introduction of new payment solutions by Mastercard highlighting the growing convergence between global technology providers and the country’s expanding digital economy. The launch of “Soundbox” and “Cloud Commerce,” developed in partnership with local financial institutions reflects a broader shift towards accessible, low-cost digital payment infrastructure for small and medium enterprises. These solutions are designed to simplify transactions, reduce reliance on traditional point-of-sale systems, and enable merchants to accept a wider range of digital payments using affordable and mobile-friendly technology. This development is part of a wider national push to expand digital financial inclusion and modernise the country’s payment ecosystem in line with Sri Lanka’s target of becoming a hub in the South Asian region. By lowering entry barriers for small businesses, such innovations are helping to bring more informal and semi-formal economic activity into the formal financial system. For foreign businesses/investors and technology companies, these changes signal a rapidly evolving market. Sri Lanka’s digital sector is increasingly viewed as an emerging opportunity space, particularly in fintech, payments infrastructure, cloud services, cybersecurity, and enterprise software solutions. The growing adoption of digital tools across retail, banking, logistics, and services is creating sustained demand for scalable technology platforms and integrated financial solutions. All these developments present a host of business/investment opportunities for foreign businesses/investors.
| Article Code : | VBS/AT/20260423/Z_4 |