Knowing When to Take Action and When to Take Risks

“Striving for excellence through the avalanche of chaos during the past year, fuelled by various ups and downs stemming from the pandemic hasn’t been easy for any business” stated the Founder and CEO of PayHere and ShopHere Sri Lanka, Dhanika Perera. 

As an online payment technology service provider in the Financial Technology sphere, PayHere found these extraordinary circumstances to be quite challenging due to the unanticipated outburst and took it upon themselves to morph the business model to adapt and serve customers which created an overwhelming demand for the convenience and great user experience of paying online through PayHere Payment Gateway Service. 

When leading the company during such unprecedented times, it was necessary for Dhanika to take innovative approaches in solving new-found problems. With their vision in digitising payments of every Sri Lankan business, the time was right to go beyond the daily process of merely selling to wholeheartedly assisting the struggling businesses in Sri Lanka. The CEO along with his team observed the domino effect of travel restrictions, limitations in physical interaction and the inability of the market to operate under its usual terms. 

“As we already had the ability to support organisations in transacting without any physical interaction, I was able to direct my team to improve the capacity of the technological strength we had at the time. This included the broadening of payment processing capabilities with our partner brands to handle the payment-load overdrive, moving to an initially paperless online on boarding process, restructuring the revenue model including changes to the payment processing fees and packages and the most significant shift by eliminating the bottleneck of having only one bank-service provider and expanding the PayHere merchant registration support to any-bank account in Sri Lanka.”

Furthermore the CEO stated that transforming the tech-averse to tech-lovers and harnessing the maximum potential of a business cannot be done overnight. In 2016 when PayHere was launched, they faced a variety of challenges including strategic, technological and regulatory hindrances. True perseverance, perpetual motivation and hands-on involvement in the business at grassroots level has endowed Dhanika with the ability to empathise and understand the reality of doing a business in Sri Lanka. 

“From graduating as a computer science engineer to presenting myself today as an entrepreneur, I feel that life has tested my core skills and knowledge in technology which always motivates me to seek change before the market diffuses. ‘Carpe Diem!’ My team and I always ‘seize the day’ because tomorrow a new technology may emerge and create a novel landscape. Simply said, knowing when to take action and taking the risk in ‘doing without doubting’ have helped us move in the ever-growing technological spectrum.

“Nothing beats the euphoria from hearing feedback from merchants who achieved success, thanks to PayHere. Every day we work on improving and customising our offerings; from PayHere links, invoices, plugins, APIs to SDKs as well as enhancing the support services spanning from operational and customer services to technical assistance.” 

The Founder is delighted to have been able to create a truly Sri Lankan brand and is most excited to travel in the untrodden path with fellow entrepreneurs.

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