Two new products to facilitate e-commerce:

Electronic transactions evolved rapidly

Sanjeevi JAYASURIYA

e- commerce is the need of the hour and the concept of validity and trust of the transaction is necessary for its effective use.

Harsha Wanigatunga

The Electronic Transaction Act No 19 of 2006 has created a conducive environment for e-commerce to take place and benefit, LankaClear (Pvt) Ltd. Head of Operations Harsha Wanigatunga said.

The use of the internet and electronic transactions have evolved rapidly in Sri Lanka facilitating greater customer convenience. It is essential to eliminate information piracy, data theft and computer related crimes to ensure security of information transmitted online, he said.

LankaClear (Pvt) Ltd, the national clearing house, is the financial sector’s certification service provider and it launched LANKASIGN to provide digital certificates for any financial sector enterprise applications and end users which will be made available on the public network.

LANKASIGN launched two products, namely email/ document signing certificate and SSL server certificate to provide secure hardware device to benefit the customers from operational efficiency.

LANKASIGN is a major achievement in the payment and settlement sphere in Sri Lanka. It will encourage more institutions in the financial sector to adopt this cost effective digital certificate based technology for enhanced information security of transactions.

This will also eliminate the need for paper based payment instruments and help the country to engage in e-commerce in a secure environment, he said.

“We will not concentrate on the export market at this moment, but are more concern about the financial sector adopting this facility. This system while guaranteeing the security of documents, e-mails and internet banking access, will also save foreign exchange by obtaining a local certification for security of internet operations and e-commerce activities, Wanigatunga said.