Hutch, Sri Lanka’s leading mobile operator and a subsidiary of Hong Kong-listed multinational conglomerate, CK Hutchison Holdings (CKHH), announces the strategic partnership with Bancstac to launch innovative payment acceptance capabilities across all Hutch digital payment channels to support its business growth.
Bancstac is an innovator in the payments industry and a core technology partner to banks and other institutions. Bancstac enables businesses to seamlessly integrate with, and unlock, a suite of payment capabilities from their partner banks.
Bancstac technology will be deployed across all Hutch digital sales channels to seamlessly launch new payment capabilities for Hutch. The partnership will enable Hutch customers to be able to settle payments with all major cards including Visa, Mastercard, UnionPay International, American Express, Discover Network, and Diners Club.
Saumitra Gupta, CEO (Actg.) of Hutch said, “We are very pleased to have Bancstac support our payment technology goals. Its technology is already integrated by our bank partners, making integration simple. This has resulted in Hutch delivering the fastest speed to market that we have seen from idea to launch. Bancstac’s payment technology offerings have enabled Hutch to gain access to an expanded customer base for payments and provide additional secure and low-friction payment options to our existing subscribers. They have further simplified our accounting and reconciliation process by providing a consolidated view of our digital payment transactions and we look forward to continuing to innovate with Bancstac and expand our strategic partnership.”
Evan Lau, CEO of Bancstac added, “Having previously worked with Hutch and CKH in other matters, I am excited to launch payment innovations with Hutch and support their business goals. We are proud to be able to leverage our unique strategic partnerships with our bank partners to unlock additional value for major corporations such as Hutch.”
HUTCH Sri Lanka is a subsidiary of Hong Kong-based Fortune 500 conglomerate, CK Hutchison Holdings (CKHH). Operating in various sectors in over 50 countries, the telecom arm of CKHH operates in 12 countries spanning across Europe and Asia with 5G deployments in 7 countries. In Sri Lanka, HUTCH is a pioneer in the telecom industry operating a nationwide 4G network that now reaches over 95% of the population and stands 5G ready.
Bancstac is a core technology infrastructure partner and payment innovation company to banks and their clients, enabling seamless adoption and customization of digital payment and acceptance capabilities from closed-loop payment networks, real-time settlement systems, and global card schemes. Bancstac is PCI DSS Level 1 certified and a PCI 3DS compliant payment processor, payment gateway, payment aggregator, payment orchestration platform, and technology innovation company.