SLT-MOBITEL mCash, the innovative mobile money platform and wallet conceptualized by SLT-MOBITEL and approved by the Central Bank of Sri Lanka, now offers greater convenience for People’s Leasing and Finance (PLC) customers in processing their monthly leasing repayments.
SLT-MOBITEL, the National ICT Solutions Provider and People’s Leasing and Finance (PLC), the financial solutions provider in the Non-Banking Financial Institutions (NBFI) sector in Sri Lanka have partnered to support the organisation’s collection management process while strengthening leasing repayment mechanisms via expanding mCash services.
PLC customers are now empowered to repay their lease payments easily and without hassle through the SLT-MOBITEL mCash wallet or at mCash retailer points. In turn this measure enables PLC to collect due leasing payment conveniently and without delays.
SLT-MOBITEL mCash authorized retailer network are available island-wide with more approved retailers to be added in the future. Partnering PLC is another milestone achieved by SLT-MOBITEL in promoting digital transformation for all citizens.
SLT-MOBITEL’s mCash has transformed the mobile money concept in Sri Lanka by introducing innovative features, and constantly creating ways in which mCash can be more inclusive and adapted to customer lifestyles.
mCash offers services such as Sending & Receiving Money, Mobile Reloads & Bill Payments, Utility, Insurance, Finance & Leasing payments, Online, In-store Shopping Payments via QR which has been developed to LankaQR standards of Central Bank of Sri Lanka, Bank Deposits, Loan & Credit card repayments and Digital Loans where Customer could apply & get a Loan from the mobile via mCash. SLT- MOBITEL’s mCash retailer network includes small corner shops to leading retail outlets adding up to 25,000+ retailer network / touch points island-wide including Mobitel Branches, SLT Teleshops, Singer showrooms, Lanka Bell, Pay & Go Kiosks or top up mCash directly from the mCash App.
About People’s Leasing & Finance PLC- PLC Digitalization
People’s Leasing & Finance PLC recently unveiled its mobile application – PLC Touch – to facilitate a convenient user experience. The state-of-the-art app has a plethora of interesting features including the insurance component which is a first for a banking app in Sri Lanka. Some key features of the app include: Ability to make QR code-based & utility bill payments, ability to manage savings while mapping activities of any other account with any other bank, PLC loan & leasing rental payment through any bank account via the app, “Call & Go” feature to simplify the claim process in the event of an accident and ability to obtain a new insurance policy within minutes minus the tedious paperwork.
People’s Leasing & Finance PLC keeping its foot print in digitalization launched two digital applications with facilities to provide online leasing facilities and to digitalize and decentralize the cheque printing process. This new application CAPP will help to provide credit facilities with an online approval via a seamless process improving customer turnaround times.
The DCHEQUE is another revolutionary digital transformation initiative developed by the People’s Leasing IT Team in partnership with People’s Banking. This new payment proposition includes SLIPS, CEFT, RTGS and internal fund transfers options. This solution is designed and interfaced with People’s Bank to ensure the most secured and controlled way to verify the payments issued by the platform. The entire branch network of the People’s Leasing & Finance PLC can initiate their own payments digitally with e-documents through DCheque. This will facilitate to eliminate the physical signature requirement by enabling digital signature printing, based on a secured approval process. Moreover, as an innovator in the NBFI sector, PLC introduced the Self-e-Cash service, which allowed customers to obtain an ‘instant loan’ against a Fixed Deposit that could be withdrawn from an ATM.
