Takas.lk has officially entered into a Strategic Alliance Agreement with Mastercard. As part of the agreement, Takas will be able to utilise several Mastercard assets. These include Mastercard Payment Gateway Services (MPGS), Tokenization services like Mastercard Digital Enablement Services (MDES), and other API based services. Furthermore, the alliance hopes to offer a better consumer experience at Takas.lk while enabling the company to explore payments as a solution in the long run as a B2B business model, through Takas E-Commerce Services.
“We’re excited about this partnership with Takas.lk to enhance consumer experiences in Sri Lanka, one of our key markets in the region. In our continuous support to the country’s ongoing efforts for adoption of cashless payments, we seek to simplify access to digital payments for businesses and consumers through such fast, secure, convenient and cost-effective solutions”, mentions R. B. Santosh Kumar, Country Manager – Sri Lanka and Maldives for Mastercard.
Mastercard continues to expand its reach in South East Asia
Over the past few years, Mastercard has been expanding their efforts to push digital payments in the South East Asian region. Last year, Mastercard partnered up with Grab to launch prepaid cards, targeting the 400 million+ unbanked in the region. In March, Mastercard entered into a five-year partnership with Alibaba-backed Lazada with the aim of growing the eCommerce market in South East Asia.
It’s a similar scenario even in Sri Lanka. Last year, Mastercard launched Simplify Commerce in the island, aimed at SMEs. Early in the year, Mastercard also entered into agreements with the likes of Mobitel and DirectPay.
For Takas, the agreement marks yet another step in growing the platform in the Sri Lankan eCommerce space. Commenting on the agreement, Lahiru Pathmalal, CEO at Takas.lk mentions that he’s “Delighted to sign this agreement with Mastercard, a leader in payment solutions in the world. It’s a great testimony to the amazing work that Takas has done in payments under the leadership of Kalinga Athulathmudali (CTO) and our technology team. We are super excited to leverage off Mastercard as we can add more features to both our B2C consumer experience and to B2B solutions we provide”.