Koko-LankaPay partnership simplifies digital lending in Sri Lanka

• Enables effortless installment payments from customers’ preferred bank

Koko, Sri Lanka’s pioneering buy now, pay later (BNPL) provider, has entered into a strategic partnership with JustPay by LankaPay, the country’s leading payment gateway, to make digital lending more accessible for Sri Lankans. 

This collaboration will enable the Koko customers to seamlessly pay their interest-free installments through Koko directly from their bank accounts and reduce the reliance on debit or credit cards, effectively providing a more reliable and secure payment option for the Koko users.

As Sri Lanka’s foremost BNPL platform, Koko empowers consumers by allowing them to shop now and pay in three easy, interest-free installments over a period of 60 days. BNPL is reshaping the way the Sri Lankan consumers access goods and services by offering greater financial flexibility, increased purchasing power and a more accessible credit alternative without traditional banking barriers. Through its user-friendly app, Koko ensures that thousands of Sri Lankans can shop with ease while maintaining control over their spending.

Koko | Daraz BNPL CEO Michael Sathasivam said, “As the market leader in BNPL, Koko is dedicated to enhancing the payment experience for Sri Lankans. Our partnership with JustPay offers the customers greater security, convenience and flexibility by allowing them to manage their installments from any bank of their choice, while reducing overdependence on cards.”

JustPay, a revolutionary payment mechanism introduced by LankaPay, enables secure, real-time, direct bank-to-bank transactions with ease. LankaPay, Sri Lanka’s trusted national payment network, has been at the forefront of digital transformation, facilitating instant payments and seamless financial transactions for businesses and consumers alike.

LankaPay CEO Channa de Silva said, “Through our partnership with Koko, one of the leading BNPL apps in the market, LankaPay is excited to empower a broader segment of the population by providing a seamless and secure online payment experience. We understand that BNPL addresses a significant market need, especially when the economy is just recovering from a severe financial crisis. This collaboration reinforces our commitment to driving financial inclusion, offering greater flexibility and convenience for digital payments across Sri Lanka.”