Ceylinco Life to offer premium payment from mobile phones
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Agreement: Ceylinco Life Chief Executive Director R. Renganathan
and NDB Bank CEO Nihal Welikala at the signing of the agreement
for Ceylinco Life to join the eZ Pay network. Others in the
picture are (from left), Ceylinco Life Directors Devaan Cooray,
Amali Seneviratne and Thushara Ranasinghe and NDB Bank’s Vice
President and Head of Retail Banking and Marketing Indrajith
Wickramasinghe and the Bank’s Assistant Vice President Cards and
Alternative Distribution Channels, Gehan Dias.
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A simple, SMS-based payment mechanism adopted by Ceylinco Life will
make life easier for thousands of policyholders protected by the leader
in life insurance.
The company this week announced it had joined the eZ Pay mCommerce
initiative pioneered by Dialog Telekom and NDB Bank, enabling all
policyholders who have Dialog connections to make premium payments from
their mobile phones.
"This is a quantum leap in convenience for our policyholders,"
Ceylinco Life Chief Executive Director R. Renganathan said. "Thanks to
Dialog and NDB Bank, our policyholders now have a secure and effortless
method to keep their policies active by making payments from anywhere
and at any time of the day or night."
Dialog Telekom Group Chief Executive Dr. Hans Wijayasuriya said:
"When we launched eZ Pay we paved the way for a revolutionary method of
making payments via mobile phones, characterized by convenience,
flexibility and safety.
The agreement with Ceylinco represents new opportunities for both
companies and a complete solution for Ceylinco Life policyholders as
they would be able to reap the many benefits that eZ Pay has to offer."
NDB Bank CEO Nihal Welikala said: "We are happy to welcome Ceylinco Life
to the eZ Pay network. Ceylinco Life has a policyholder base that
represents a significant segment of our population which will now
benefit from the features of eZ Pay."
All that is required is for Ceylinco Life policyholders to swap their
existing SIM cards for new eZ Pay-enabled SIM cards at any Dialog Arcade
or Customer Service Centre and register for the service. Customers will
be able to get the eZ Pay enabled SIM free of charge till 31st December
2007.
The change of the SIM card will not result in a number or package
change, and the new SIM can be used on any model of mobile phone
connected to the Dialog network. The facility is available to both
pre-paid (Kit Card) and post-paid (package) connections.
The insertion of the new SIM converts the user's phone to an
electronic wallet, which can be topped up with credit by visiting any
Dialog arcade, service centre, franchise outlet or authorised eZ Pay Top
Up Agent, whose establishments are identified by an eZ Pay sign. eZ Pay
customer could also top up their eZ Pay card account at any NDB bank or
Commercial Bank branch.
The software that enables the transfer of funds for the payment of
insurance premium resides on the SIM card and can be used to process
transactions of up to Rs 100,000. The eZ Pay facility is accessed via
the phone menu and all transactions are confirmed with an electronic
receipt by return SMS.
"The simplicity and security that eZ Pay offers is its biggest
attraction," Mr. Renganathan added.
"Policyholders need not visit branch offices or wait for an agent to
call on them to make payments. Neither do they need credit cards or
cheque books.
This is truly a revolutionary facility that reaches the grassroots
and complements Ceylinco Life's efforts to take insurance to the
masses."
eZ Pay is founded on best-in-class electronic commerce and messaging
infrastructures which are also aligned to and compliant with industry
standards in transaction security including the Payment Card Industry
and 3DES end-to-end encryption standards. Additionally, all transactions
are initiated and approved using a PIN similar to ATM transactions.
Ceylinco Life also offers policyholders the option of paying premium
on-line and via bank and credit card standing orders. |
