DFCC Bank offers Virtual Wallet
DFCC Bank PLC has introduced an innovative mobile payment solution -
Vardhana Virtual Wallet - which is equivalent to having cash in hand.
Owned and operated by DFCC Bank and developed by Synapsys, the
Vardhana Virtual Wallet is a digital application that can be downloaded
on to a mobile device, connecting consumers to merchants and other
consumers.
This solution enables users to send and receive electronic cash, thus
simplifying their shopping experiences and helping them to stay in
control of their finances. Its many uses include purchasing goods and
services, paying utility bills, transferring funds between Wallets,
withdrawing cash and topping up cash from designated merchant outlets or
from the Bank account linked to the Wallet.
All these features could be accessed while on-the-go from a data
enabled mobile device. Funds can be maintained in the Virtual Wallet to
conduct transactions, eliminating the need to carry any other payment
instrument.
This product also has many benefits for merchants regardless of their
scale or scope of operation, as mobile payments is a fast growing trend.
It includes reduction of operating costs, earn attractive commission
income and create a consumer-centric shopping experience at the
merchant's premises or at the doorstep of a consumer.
CEO, DFCC Bank, Arjun Fernando said, "DFCC Bank was set up 60 years
ago to spearhead development financing in a newly independent nation.
Since then, we have grown, evolved and diversified to meet the changing
needs of our customers and the nation as a whole."
"Our progress and achievements have resulted in many firsts, and the
introduction of the Virtual Wallet is a financial inclusion enabler and
yet another first in the country's banking industry," he said.
"As we launch this product, we are affirming DFCC's potential for
stronger growth through innovation. We will continue to innovate and
break new ground in striving to drive financial inclusion and meet the
needs of our customers and all our stakeholders," Fernando said. |