Sri Lankan consumers will have the opportunity to make direct cash payments through ATMs from Monday when five ATMs accepting cash deposits start operations in Colombo for the first time.
The 'PayTM' network's One&Only, a Sri Lanka Board of Investment approved firm, in a joint venture with Japan's Cash Machines Company Limited has established the ATM network in Colombo with a US$ 500,000 investment.
As a start consumers can directly pay Sri Lankan currency notes of Rs. 10 to 5000 denominations to the ATMs to settle their cell phone bill payments. The consumers are not required to have an account with the firm to make cash payments.
Water Board and Electricity Board payments will be introduced by the end of the month.
The system works in any language of choice in Sinhala, Tamil or English and the connections to the company's secure transaction server is wireless, through TCP/IP web protocol. The machines are equipped to authenticate the user identity with a pin number which is already active.
When the company activates its fingerprint scanner, local Banks can join the network and allow their depositors to withdraw from their savings accounts through the network.