Payhere

About Payhere

Payhere positions itself as a pivotal financial technology provider for the Sri Lankan market, delivering aggregated payment gateway services. The company was founded by Dhanika Perera and Chamika Weerasinghe, with its initial launch in 2016. The venture originated as a spin-off from Perera's first company, Bhasha Lanka (Pvt.) Ltd., after he personally experienced the difficulties of accepting online payments for his digital business. This firsthand frustration with the lack of accessible payment solutions in Sri Lanka became the primary motivation for creating Payhere.

The company's journey included a significant milestone in 2018 when it relaunched after working with the Central Bank of Sri Lanka (CBSL) to establish a legal framework for its business model, becoming a CBSL-approved payment gateway. Payhere was bootstrapped initially, funded by profits from Perera's other ventures without external investments. The business targets Sri Lankan merchants, from individual freelancers and startups to small and medium-sized enterprises (SMEs) and larger corporates, enabling them to accept online payments from a global customer base. Its revenue is generated through a tiered pricing strategy; a 'Lite' plan for startups involves only a commission on international transactions, while 'Plus' and 'Premium' plans for more established businesses include monthly fees alongside transaction commissions.

Payhere's core service consolidates numerous payment methods into a single platform. It allows businesses to accept payments from major credit cards like Visa and MasterCard, mobile wallets, and internet banking systems. The platform is designed for easy integration, offering plugins for popular e-commerce platforms such as WooCommerce and simplified APIs for custom websites. For merchants without a dedicated website, such as those selling on social media, Payhere provides the ability to generate and share payment links to receive funds. This comprehensive solution addresses the critical need for a unified and accessible online payment infrastructure within Sri Lanka, facilitating both local and international commerce for its user base of over 5,000 businesses.