About the Flash digital banking app
According to latestfinance.news , the Flash digital banking app includes a suite of financial services designed to help customers manage the banking-related aspects of their daily lives. These include daily living and utility expenses, savings, investments, environmental awareness, and ecommerce. In 2020, the app has received a ‘Save the Environment feature,’ which measures the social carbon footprint of each user transaction via a carbon footprint calculator. The app also includes an Advanced Budgeting tab that helps users keep track of their expenses. The app’s Quick Response (QR) payment module allows users to scan a LANKAQR code from any merchant in order to make payments directly from their accounts to the merchant’s accounts. What has ComBank been up to recently? In November 2021, the Commercial Bank of Ceylon partnered with local fintech PayHere to provide users of the Q+ Payment app a secure and user-friendly e-shopping experience. The partnership also allowed PayHere merchants to add the Q+ online payment facility to their websites. In October 2021, ComBank partnered with LankaSign in order to accept digital signatures. The bank signed a Memorandum of Understanding with LankaClear and encouraged its corporate customers to submit their online banking applications signed digitally. In August 2021, ComBank joined Sri Lanka-based fintech startup DirectPay in order to support digital payment solutions for businesses. Through this partnership, DirectPay aimed to expand its suite of services such as fully integrated payment Point-of-Sale devices.

ComBank blends banking and wearables via its Flash digital account

By: Robert Hyde, CEO of DirectPay by Payment Source
On May 23, 2022
As payment preferences continue to shift away from cash, Canadian businesses are shifting resources and investing more heavily in their digital presence and online storefronts. For some brick-and-mortar retailers, this investment in e-commerce sales platforms marked their first foray into online selling. According to Shopify , new online store creation by Canadian retail merchants increased 20 per cent during the last two weeks of March 2020. And rightfully so as Canadians are making more retail purchases online – a number that’s grown 29 per cent since 2020. But as with all business models, regardless of size or primary location, determining customer preferences is key to driving sales success and building customer loyalty. In learning more about this group of Canadians who are regularly shopping online, DirectPay found that 55 per cent of Canadians1 have abandoned a shopping cart because of the payment experience, which included issues in payments security and being uncomfortable sharing credit card details online. This could be attributed to multiple factors, such as screen size (ie. mobile or tablet shopping) or website design, but a common reason repeatedly given for abandoning a cart at checkout was a lack of preferred payment options. In essence, Canadians want to shop online, but are looking for a simple, convenient and safe way to do so. Companies must address these preferences to improve customer experience and online conversion. These expectations will continue to intensify B2C competition in the growing e-commerce market. There are four areas retailers can focus on today to better solidify long-term market share:
Offer choice and convenience to consumers. Payment options are table stakes, but unfortunately almost three in five Canadians still experience some form of payment friction being caused by retailers not offering this choice. Canadians want to use their preferred payment method and want to avoid being forced to use a payment method not of their choosing. Experience shows that at a certain point, a consumer will source a similar alternative from another retailer if they can pay in their way. To avoid cart abandonment in the era of digital payments, retailers must keep up with the consumer expectation of diverse, quick and convenient online payments. These factors can make the difference between a successful checkout and consumer frustration. Promote payments security. With growing reliance on digital connectivity, concerns of fraud and cybercrime are largely prevalent and can negatively impact consumer payment preferences and behaviour. We saw this fear fill our newsfeeds after information and data of 553 million Facebook users were made freely available online last year. When it comes to personal information, consumers have the right to be protective as potential theft can have devastating financial impacts. DirectPay found that 50 per cent of Canadians surveyed1 would be more likely to shop online if they did not have to share their payment information or to risk having a merchant store or access personal details. Offering an alternative payment option, such as e-transfer, showcases a retailer’s commitment to providing trusted payment methods for its customers. This type of secure payment option keeps all personal and financial information private from the retailer and uses established and secure banking procedures to protect the customer. Lower the cost of e-commerce payments for retailers. Advancements in digital payment technology are changing the way consumers interact with e-commerce retailers and online marketplaces of all sizes. While digital payments are gaining in popularity, credit cards currently remain the primary payment option for e-commerce in Canada. This puts Canadian retailers in a bind as they are left paying some of the highest credit card fees in the world. Interchange fees in Canada are more than three times higher than in Europe and Australia as one example. High credit card fees reduce retailers’ profit margins and drive up prices for Canadian consumers. We should be actively searching for and supporting alternative payment options that benefit us all. Businesses who offer customers new e-commerce payment models that don’t require a credit card can keep their costs lower. Learn from in-store payments experiences. E-commerce retailers can learn from how customers interact in-store. Consumers are more commonly choosing debit over credit payments options in-store, but that these preferences are reversed for online shopping because of lack of choice according to a recent Digital Economy Payments Report . By offering a debit option at the online checkout, Canadians can more readily match in-store and online payment preferences while providing an innovative payment option to consumers. As online shopping preferences continue to accelerate, payments choice and security remain critical for Canadians. By improving the e-commerce purchase process with insights from in-store payment activity, retailers can lower cart abandonment, lower fees and access new customers through this platform. Adding a debit solution such as e-transfer, which Canadians already know and trust, is one of the simplest and most cost-efficient ways to accomplish this for retailers.

Top 4 Ways To Improve Your E-Commerce Purchase Process

ComBank, DirectPay to support digital payment solutions for businesses
Tuesday 24 August 2021 14:53 CET  | News
ComBank seeks to provide Internet Payment Gateway (IPG) support and operate as the acquiring bank for the cashless payment solutions DirectPay develops for clients. With this partnership with Commercial Bank, DirectPay aims to expand its suite of services such as fully-integrated payment Point-of-Sale devices to discover new markets and inventory management solutions with payment integration on Card and LankaQR payments for Small and Medium (SME) businesses and corporates in the country. DirectPay will also collaborate with the Bank on products such as micro lending and pay-day loans, as well as to offer its merchant clientele more efficient ways of making supply chain payments. Further, with the backing of Commercial Bank and its expertise as a leading IPG service provider in the country, DirectPay will enhance its offerings of customised digital payment solutions for businesses in the insurance, education, and ecommerce industries that will enable them to move away from cash-on-delivery-based transactions and facilitate a host of digital payment options for the products and services offered. The introduction of these modern payment methods is aimed at providing customers with a choice of multiple payment options, the company said.

ComBank, DirectPay to support digital payment solutions for businesses

The user-friendly Penguin helping ordinary people get out of debt announces growth numbers and new DirectPay feature to level up its offering from savings tools to making actionable debt payments
Charlie , the personal finance app helping users get out of debt without lifestyle sacrifices, announced new features and a reengineered UI/UX for iOS users to further grant its users an attainable path to debt freedom, as well as company growth numbers. In addition to its existing debt management tools, Charlie will today offer DirectPay, enabling users to link their credit card details to the app so they can easily transfer savings from their debt fund to make extra credit card payments, allowing them to pay down their debts quicker than ever. The new, streamlined feature allows users to make extra payments at their own pace or let Charlie recommend when it’s best to utilize their debt fund to make extra payments towards credit card debt. The company is also sharing that its user base has grown 5X since January 2021, and that since launch, the number of active users building their debt fund within the app has grown by 450 percent. “Charlie isn’t just about learning how to pay off your debt anymore, it’s now about providing our user the complete end-to-end experience of figuring out how to manage debt, as well as actually paying it off in a few simple steps”
Initially a chatbot app, Charlie now offers a full suite of tools that focuses on the journey to debt-freedom with its updated UI/UX, optimizing the interface and making the app a more purposeful experience. On average, Charlie users currently save $66 monthly, helping them save $30,406 of interest over the lifetime of their debt, meaning they will be able to pay off their credit card approximately 19 years faster. With the introduction of DirectPay, Charlie will create an even more seamless user experience, allowing its users to send any money from their debt fund directly to their credit card, streamlining the flow and maximizing savings’ impact on debt. Charlie utilizes AI to analyze spending habits and show users that making small payments towards their debt, alongside their minimum monthly payment, can have a huge impact. Charlie has pioneered a new type of user experience in the fintech world, making the journey to debt freedom easy, refreshing and one-of-a-kind. Its judgement-free persona and interactive guide supports users spending money on what they desire, while simultaneously setting money aside for them to pay off debt. “Charlie isn’t just about learning how to pay off your debt anymore, it’s now about providing our user the complete end-to-end experience of figuring out how to manage debt, as well as actually paying it off in a few simple steps,” said Ilian Georgiev , CEO and co-founder of Charlie. “We listened to user feedback and honed our offering to maximize our users’ time spent in the app. We wanted to perfect the features that users were enjoying and declutter the experience of what they didn’t need. In addition to being a one-stop-shop for people to save money, find deals and cut bills in order to pay off debt, they can now automatically pay it down directly within our app to become debt-free faster.”
Charlie’s unique and innovative features include custom auto-transfer rules, such as putting money away whenever it rains, whenever users buy fast food, purchase Starbucks or take an Uber. With the new and improved UI, Charlie has created an enjoyable journey to debt-freedom for users and celebrates and motivates them along the way. Based on feedback from interviews with users and overall consumer interest, Charlie elevated the most important tools for easy access including its debt-free plan, auto-savings and rewards, and rearranged its less-visited features to provide a more succinct and polished user experience. With over 500,000 registrations since inception, Charlie has exchanged over 85 million conversations with users on the app. Charlie analyzes over $6 billion of user spending data to optimize user behavior and build the best tactics to help Americans achieve their financial goals, no matter how big or small. Charlie demonstrates the power of saving and shows users how paying even $25 extra more towards debt per month can save thousands of dollars of interest and get them out of debt years sooner than they thought possible.

Debt-Freedom App Charlie Hits 5X User Base Growth in Just Four Months; Adds DirectPay to Its Suite of Tools

The user-friendly Penguin helping ordinary people get out of debt announces growth numbers and new DirectPay feature to level up its offering from savings tools to making actionable debt payments
July 01, 2021 10:00 AM Eastern Daylight Time
SAN FRANCISCO--( BUSINESS WIRE )-- Charlie , the personal finance app helping users get out of debt without lifestyle sacrifices, today announced new features and a reengineered UI/UX for iOS users to further grant its users an attainable path to debt freedom, as well as company growth numbers. In addition to its existing debt management tools, Charlie will today offer DirectPay, enabling users to link their credit card details to the app so they can easily transfer savings from their debt fund to make extra credit card payments, allowing them to pay down their debts quicker than ever. The new, streamlined feature allows users to make extra payments at their own pace or let Charlie recommend when it’s best to utilize their debt fund to make extra payments towards credit card debt. The company is also sharing that its user base has grown 5X since January 2021, and that since launch, the number of active users building their debt fund within the app has grown by 450 percent. Initially a chatbot app, Charlie now offers a full suite of tools that focuses on the journey to debt-freedom with its updated UI/UX, optimizing the interface and making the app a more purposeful experience. On average, Charlie users currently save $66 monthly, helping them save $30,406 of interest over the lifetime of their debt, meaning they will be able to pay off their credit card approximately 19 years faster. With the introduction of DirectPay, Charlie will create an even more seamless user experience, allowing its users to send any money from their debt fund directly to their credit card, streamlining the flow and maximizing savings’ impact on debt. Charlie utilizes AI to analyze spending habits and show users that making small payments towards their debt, alongside their minimum monthly payment, can have a huge impact. Charlie has pioneered a new type of user experience in the fintech world, making the journey to debt freedom easy, refreshing and one-of-a-kind. Its judgement-free persona and interactive guide supports users spending money on what they desire, while simultaneously setting money aside for them to pay off debt. “Charlie isn’t just about learning how to pay off your debt anymore, it’s now about providing our user the complete end-to-end experience of figuring out how to manage debt, as well as actually paying it off in a few simple steps,” said Ilian Georgiev, CEO and co-founder of Charlie. “We listened to user feedback and honed our offering to maximize our users’ time spent in the app. We wanted to perfect the features that users were enjoying and declutter the experience of what they didn’t need. In addition to being a one-stop-shop for people to save money, find deals and cut bills in order to pay off debt, they can now automatically pay it down directly within our app to become debt-free faster.”
Charlie’s unique and innovative features include custom auto-transfer rules, such as putting money away whenever it rains, whenever users buy fast food, purchase Starbucks or take an Uber. With the new and improved UI, Charlie has created an enjoyable journey to debt-freedom for users and celebrates and motivates them along the way. Based on feedback from interviews with users and overall consumer interest, Charlie elevated the most important tools for easy access including its debt-free plan, auto-savings and rewards, and rearranged its less-visited features to provide a more succinct and polished user experience. With over 500,000 registrations since inception, Charlie has exchanged over 85 million conversations with users on the app. Charlie analyzes over $6 billion of user spending data to optimize user behavior and build the best tactics to help Americans achieve their financial goals, no matter how big or small. Charlie demonstrates the power of saving and shows users how paying even $25 extra more towards debt per month can save thousands of dollars of interest and get them out of debt years sooner than they thought possible. The app is currently available for iOS and Android devices and can be downloaded for free. Access to the app and new premium features are available with a subscription for $4.99/month. To download Charlie on the App Store, please click here . To download Charlie on Google Play, please click here . For more information about Charlie, please visit https://hicharlie.com . To access the media kit, including visual assets, please click here . About Charlie
Founded in 2016, Charlie operates on a mission to get Americans out of debt and help them regain financial freedom. Within minutes of signing up, Charlie users can start paying down more debt without changing their everyday spending habits. Finance experts Ilian Georgiev, Ivo Parashkevov and Robert Luedeman created Charlie’s psychology-based tools to support users’ need for balance in a healthy financial plan while helping them save money. Charlie has had over 500,000 sign-ups of people that want to take control of their debt. Learn more at hicharlie.com . Contacts

Debt-Freedom App Charlie Hits 5X User Base Growth in Just Four Months; Adds DirectPay to Its Suite of Tools to Help Americans Get out of Debt

Mi-Pay aims to provide a portfolio client branded mobile payment services for mobile operators, financial service providers, utility companies and media owners amongst others. On February 25th, 2020, Mi-Pay was acquired by Alphacomm, terms of the agreement were not disclosed.

Mi-Pay

According to the press release , the partnership brought DirectPay 's integration of Voice and SMS Payment Reminders services provided by Mi-Pay .

DirectPay enlists Mi-Pay to digitalize payment journey

DirectPay is a full-service credit management agency that specializes in cost-efficient administration and management of debtor risks. The company is a specialist in the collection of claims from consumers. It is based in Rotterdam, Netherlands.

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