Synapsis CEO Dinesh Fernandopulle and DFCC Bank Deputy CEO Lakshman Silva lighting
the oil lamp
In an effort to support Sri Lanka’s SMEs and the country’s large community of tea leaf suppliers, DFCC Bank recently launched the ‘V Cash Card’.
This ground-breaking new “Supplier Settlement System” designed and hosted by Synapsys brings the convenience of electronic banking to small tea leaf suppliers and growers throughout Sri Lanka by providing them with an automated payment collection service and access to cash withdrawals across the country.
The ‘V Cash Card’ is an innovation launched in partnership with Synapsys, the Banking Technology subsidiary of the DFCC Group.
At the launch, the first batch of ‘V Cash Cards’ were distributed to 25 tea suppliers and growers at the KDU Head Office, in the presence of Saman Upasena- Managing Director of the KDU Group and Galpaditenna Tea Factory and his brother, Thushan Upasena - Owner;Proprietor of Nilvin Tea View Factory.
Also present were dignitaries from DFCC Bank PLC and Synapsys including Lakshman Silva – DCEO, DFCC Bank, Dinesh Fernandopulle – CEO, Synapsys, as well the senior management of DFCC Bank, & Synapsys. The event was also attended by a large gathering of clients and small tea suppliers.
“It is a new-era of inclusive financial platforms” stated Dinesh Fernandopulle, CEO of Synapsys. Farmers are issued NFC cards for identification, weighing-scales communicate with hand-held devices used by Leaf Collectors to reduce fraud, GPS can track location, and farmers can even interact with the platform using their mobile phones if desired. Everything is integrated with the Agrobusiness’ ERP via the platform that we manage, hosted at Sri Lankan Telecom. The Agro-chain is a growth segment for us. Beginning with the tea industry, we are moving into dairy, rubber and coconut. This platform drives an ecosystem of smallholder farmers, agro-businesses and banks.”