PayMedia, which deals in fintech innovation, won the first runner-up award in the Community and Indigenous Services category at the Asia Pacific ICT Alliance (APICTA) Awards 2024, in Brunei Darussalam.
The recognition was for its product, LankaRemit, a platform for digital remittance services in Sri Lanka.
The platform simplifies and streamlines the process of sending money to Sri Lanka, ensuring that remittances are fast, secure, and cost-efficient.
Traditionally, the process of sending money from abroad has been fraught with high fees, long processing times, and a lack of transparency. LankaRemit tackles these issues head-on, providing an innovative digital platform. LankaRemit’s success lies in its ability to empower underserved communities and promote financial inclusion.
With remittances emerging as a significant and growing source of income for the country, LankaRemit plays a crucial role in supporting economic stability and development. PayMedia’s platform ensures that families can access funds promptly and with minimal hassle, helping them meet essential needs like education, healthcare, and housing. LankaRemit plays a vital role in encouraging digital literacy and financial awareness among communities, aligning with national efforts to promote a cashless economy.
PayMedia remains on expanding the reach and capabilities of LankaRemit. By enhancing partnerships, incorporating emerging technologies, and addressing evolving community needs, PayMedia aims to further solidify its role as a leader in fintech solutions that drive inclusivity and empowerment.
The recognition at the APICTA Awards marks a significant milestone, underscoring the potential of technology to transform lives and communities. PayMedia’s success with LankaRemit serves as an inspiration for other innovators in the region to harness technology for social good.
