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Sampath Bank launches innovative Mini-POS Solution, empowering SMEs to boost sales and enhance customer experience

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Responding to the increasing demand for digital payment solutions within the small and medium-sized enterprise (SME) sector, Sampath Bank is the first bank in Sri Lanka to launch a MiniPOS device, proudly announcing the innovative bespoke mini-POS solution. These innovative systems, meticulously crafted to address the unique needs of SMEs, empower businesses to streamline transactions and enhance customer experiences.

As SMEs continue to play an increasingly pivotal role in the market, Sampath Bank recognises the importance of providing affordable and user-friendly payment solution. Developed with portability, versatility, and ease of use in mind, the mini-POS solution offer SMEs a convenient avenue to accept payments from customers, thereby driving sales and revenue growth. Customers can seamlessly process transactions over multiple payment schemes such as Visa, Mastercard, China Union Pay, JCB, Lanka QR, and UPI networks is also another important feature of this handy portable device.

Shiran Kossinna, Assistant General Manager of the Card Centre at Sampath Bank, shared his insights on the initiative, stating, “At Sampath Bank, we are committed to supporting the growth and success of SMEs. Our mini-POS solution not only cater to the specific needs of this segment but also align with government efforts to modernise payment channels, ultimately fostering financial inclusion.”

In addition, Sampath Bank’s mini-POS solution offers a range of features to meet the diverse needs of businesses. These include portability, as the compact and lightweight systems are ideal for various business such as pop-up shops by entrepreneurs, grocery stores, boutiques, delivery/courier companies, event vendors, and outdoor markets, ensuring a convenient payment option wherever customers go, supporting multiple payment methods, including contactless payments (NFC), chip cards, and payments via mobile wallet (QR), thereby enhancing the overall shopping experience. Furthermore, the mini-POS systems enable faster transactions, crucial in busy environments during peak shopping times or events with high foot traffic, ensuring quick and efficient payments. Lastly, advanced security features safeguard customer data during transactions, providing peace of mind for both businesses and customers.

By offering a modern and efficient payment solution tailored for SMEs, Sampath Bank focuses on empowering these entrepreneurs. This is achieved by boosting sales through enhanced customer experience, providing a convenient payment solution, reducing checkout times, and streamlining the payment process. Additionally, Sampath Bank supports government initiatives to digitalise domestic payment channels. They aim to expand market reach by offering a portable and versatile mini-POS solution and differentiate themselves from competitors by providing a cost-effective and user-friendly system, with merchants who acquired the POS machine on or before 31st August 2024 receiving six months of free rental.

As Sampath Bank continues to pioneer advancements in digital payments, SMEs can look forward to a future of enhanced efficiency, flexibility, convenience, and growth opportunities.



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Environmental devastation seen as precipitating economic crisis in Northern Sri Lanka

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Environmentalists and officials on an on-sight tour in Sri Lanka’s North.

As parched soil cracks underfoot and once-thriving fields lie fallow, the farmers of Mannar are living on the frontlines of a crisis that is no longer just environmental — it’s economic. Climate change has tightened its grip on this northern region, and with each failed monsoon and dwindling harvest, the livelihoods of entire communities are evaporating.

The Centre for Environmental Justice (CEJ), along with local stakeholders, has raised urgent concerns over the increasingly hostile conditions faced by farmers in the region. At the heart of the problem are erratic weather patterns — prolonged droughts, unpredictable rainfall, and extreme heat — all of which disrupt the delicate balance required for traditional farming practices.

“The erratic weather patterns triggered by climate change are not only drying up water sources but also pushing already vulnerable farming communities deeper into poverty, Dilena Pathragoda, Executive Director, CEJ told The Island Financial Review.

He added: “The economic consequences are severe — from crop failures to loss of livelihoods — and without timely interventions and climate-resilient strategies, the long-term sustainability of agriculture in regions like Mannar is in jeopardy.”

In 2024 alone, nearly 3,000 acres of paddy land in Mannar District were left uncultivated due to lack of water, according to data from local agrarian offices.

In other words, this represents an estimated loss of over Rs. 225 million in potential harvest income, based on average yields and market prices. Farmers who once cultivated rice, onions and vegetables with predictable seasonal success now face devastating uncertainty.

The failure of rain-fed tanks (reservoirs) and the drying up of canals have made irrigation nearly impossible in some areas. In Nanattan and Musali divisions, water availability dropped by some 60 per cent compared to historical averages. As water becomes scarcer, so do incomes, leading many families to take on debt or abandon agriculture altogether in search of daily-wage labour.

This agricultural downturn is having ripple effects throughout the local economy. In Mannar, where over 60% of households depend directly or indirectly on farming, the collapse of agricultural productivity has led to rising food prices, shrinking local markets, and reduced cash flow for small businesses. Fertilizer vendors, seed suppliers and even transport workers are reporting significant losses.

“Some farmers have seen their seasonal incomes drop from Rs. 200,000 to under Rs. 50,000, noted one local agriculture officer. “Many are defaulting on informal loans and are now relying on relief aid to survive.”

Economists warn that this trend, if unchecked, could contribute to broader socio-economic instability. Rural depopulation, youth migration, and heightened inequality are already being observed in vulnerable districts. Women, in particular, face added burdens as household food security becomes more precarious and access to clean water requires greater physical labor.

Despite these challenges, experts insist that solutions are within reach. Climate-resilient farming techniques — such as drip irrigation, drought-tolerant crops, and community-managed water systems — have shown promise in pilot projects across other dry zones. However, scaling these up requires political will, coordinated planning, and substantial investment.

Environmental advocates also call for a shift in national agricultural policy. “Rather than pouring money into outdated infrastructure or monoculture subsidies, Sri Lanka must pivot towards sustainable, adaptive farming models, said Pathragoda. “This includes better support for farmers’ education, access to technology, and integrated land and water management.”

Civil society groups, including CEJ, are urging both the government and international donors to treat the Mannar crisis as a wake-up call. Climate finance mechanisms, they argue, must be made accessible to grassroots communities, not just large-scale development firms. Moreover, climate justice must take center stage — recognizing that those suffering most have contributed least to the global emissions causing these disruptions.

As Sri Lanka navigates an uncertain economic recovery, ensuring food security and rural resilience is more than an environmental imperative — it’s a matter of national stability, Pathragoda stressed.

By Ifham Nizam

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CSE and NCE partner to empower Sri Lankan exporters

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The Colombo Stock Exchange (CSE) and the National Chamber of Exporters of Sri Lanka (NCE) entered into a strategic partnership to support Sri Lankan exporters by enhancing their access to capital market opportunities and broadening visibility for their businesses.

The partnership agreement was signed by Shiham Marikar, Secretary General / CEO, The National Chamber of Exporters of Sri Lanka, and Ms. Vindhya Jayasekera, Chief Executive Officer Designate, CSE. The signing ceremony was attended by Ms. Dilini Gamlathge, Assistant Director, Member Services/Operations, The National Chamber of Exporters of Sri Lanka; Ms. Punyamali Saparamadu, SVP Commercial, CSE; Ms. Himashi Wickramasinghe, Manager, Commercial, CSE; Ms. Shivandini Liyanage, SVP, Legal, Enforcement and Compliance, CSE; and Kanishka Gunawardana, Manager, Enforcement and Compliance, CSE.

This partnership with the CSE will provide NCE members—both experienced exporters and aspiring ones—with access to vital capital market knowledge and services to support their business expansion efforts.

This collaboration aims to offer exporters tools and resources to strengthen their market presence and growth potential. It also creates a platform for SMEs within the export sector to consider listing on the Colombo Stock Exchange, particularly through the Empower Board—dedicated to facilitating capital raising for small and medium-sized businesses.

Through this partnership, CSE will also gain direct access to a network of established exporters, enhancing the reach of capital market education, awareness-building, and strategic financing solutions among key players in Sri Lanka’s export economy.

The collaboration will further enable opportunities for joint forums, knowledge-sharing sessions, and networking events, providing exporters with guidance on alternative avenues for capital generation and highlighting the benefits of corporate good governance and transparency through listing.

This partnership adds credibility to the CSE and NCE’s shared efforts and signals trustworthiness to potential stakeholders, offering significant advantages for fostering growth, strategic opportunities, and long-term development within Sri Lanka’s export sector.

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A case for a visa-free tourism regime in SL

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Nihal Perera: “Visa-free travel needed.”

Sri Lanka should not have any restrictions for tourist arrivals and a visa-free regime is the need of the hour to woo more visitors, said travel and aviation expert Nihal C.B. Perera.

The founder of a family-owned company in Sri Lanka, Sparklink Travels, Perera said that Sri Lanka should offer the same ‘Visa Free facility’ initiated by Singapore and now successfully implemented by Thailand.

A former Ceylon Tourist Board, Development and Publicity Director, he said that during his time, they leased or gave several unused state land areas to build hotels. “But we told the investors that the construction has to start in six months, and this happened.”

One such venture was the opening of the Pegasus Reef Hotel at Wattala.

Perera also initiated the creation of special tourism zones in Bentota, Hikkaduwa and several other areas.

After a nearly 15-year stint at the Tourist Board, he formed his own travel company, Sparklink Travels, in 1979 with just 4 employees. “With the rapid expansion of business, and being recognized as an IATA-accredited travel agency, we increased our employee strength and moved into our own four-storey building in Bambalapitiya. We also opened a branch in Australia, he said.

“After the COVID pandemic, we also negotiated with airlines and refunded all passenger tickets purchased and cancelled due to COVID-19, Perera explained.

He recalled the days when people were issued small booklet-type air tickets and how his staff had to visit the airline offices to collect them. Perera added: “The online has changed these and I think this is a time-saving move.

“Unlike two decades ago, online and payment gateways have enabled people to book their own air tickets from home and we too have changed our strategies to find new businesses.”

Today, Sparklink Travels continues with his son Praki Perera, heading the company’s operations in Sri Lanka and Australia.

Their dedication ensures that the company remains a premier provider of air travel, cruises and tours, with professional services tailored to enhance the true essence of travel.

Perera, who has been a pioneering force in Sri Lanka’s tourism sector, was also honored as a ‘Tourism Legend’ at the annual industry awards.

By Hiran H. Senewiratne

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