eZ Cash

What eZ Cash does

eZ Cash is Sri Lanka's pioneering mobile money service, launched in June 2012 by Dialog Axiata PLC under a license issued by the Central Bank of Sri Lanka pursuant to the Payments and Settlements Act No. 28 of 2005. The platform enables digital wallets accessible via USSD (#111#) on any mobile phone and via the Dialog Pay smartphone app, with two tiers — Classic (Rs. 10,000 daily limit) and Power (Rs. 150,000 daily limit) — and operates without requiring users to hold a bank account. The service reaches 16M+ subscribers across Dialog, Hutch, and Airtel networks and is supported by an island-wide retail agent network of 55,000+ points, 600+ Commercial Bank ATMs for cardless withdrawals, and Sampath Bank eZ Banking retail deposit/withdrawal points.

The core technology comprises a USSD transaction platform, smartphone applications with QR scan-and-pay functionality, and the LANKAQR national QR code standard co-developed with LankaClear under CBSL. Security is anchored on 4-digit PIN authentication with 3DES encryption and OTP-based two-factor authentication for online payments, and the service holds GSMA Mobile Money Certification (one of the first seven globally) and PCI DSS certification for its payment application. An Internet Payment Gateway supports Java, PHP, and DotNet integrations for 180+ online merchants. eZ Cash was the world's first end-to-end interoperable mobile money service across multiple network operators (enabled March 2014).

Revenue is generated primarily through transaction fees (cash withdrawal tiered Rs. 25–250), merchant commissions (0.5% on LANKAQR transactions), wallet top-up charges (Rs. 20 for non-Dialog Pay/non-bank channels), and processing fees from government payments (GovPay), foreign remittances (Payoneer, UAE Exchange, HomeSend, Neteller, Skrill, Alipay), institutional loan repayments (VisionFund Lanka, HNB Finance, Sejaya Credit), and merchant integrations. The service targets unbanked and underbanked consumers, overseas worker families, merchants, microfinance customers, and government services users, with marketing conducted primarily through Dialog Axiata's telecom channels and the Dialog Pay app ecosystem.

Name

eZ Cash

Legal name

eZ Cash by Dialog Axiata PLC

Website

https://ezcash.lk

Company type

Private

Founded year

2012

Operating status

Operating

Headcount range

11–50 employees

Short description

eZ Cash is Sri Lanka's pioneering mobile money service by Dialog Axiata PLC, enabling wallet-based transactions via USSD (#111#) and smartphone apps across 16M+ subscribers and a 55,000+ retail agent network without requiring a bank account.

Ownership category

akta.pro rank

Product category

Mobile Money / Digital Payments

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

akta.pro primary industry

Cash-in/Cash-out Agent Network Wallets (FSAMAEAJ)

akta.pro secondary industries

General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA), Cash-to-Digital Networks (PayNearMe, Barcode/Cash-in) (MPAEALAF)

Keywords

• Mobile money
• Digital wallet
• Mobile payments
• Cash transactions
• Financial inclusion

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Transaction Fees: Customers pay tiered fees for cash withdrawals (Rs. 25-250 depending on amount), with many services free including bill payments, reloads, and send money. Fees are the primary revenue source from consumer transactions.
2. Merchant Commission (LANKAQR): Merchants are charged 0.5% of transaction value for LANKAQR payments, generating revenue from merchant-side transaction volume.
3. Government Payment Processing (GovPay): Processing fees from government service payments including taxes, licenses, fines, and fees through the GovPay platform.
4. Wallet Top-up Charges: Rs. 20 charge for non-Dialog Pay/non-bank top-up channels; free for Dialog Pay and Commercial Bank Internet banking/Flash app.
5. Institutional Payment Processing: Revenue from processing loan repayments, insurance premiums, and installments through the Business eZ Cash Code system for partner institutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels8 records

Core offering

eZ Cash is a mobile money service that enables Sri Lankan mobile subscribers to perform financial transactions via their mobile phone without requiring a bank account. Users can store cash in a digital wallet, send money, pay bills and utilities, make merchant payments via LANKAQR QR standard, receive foreign remittances, pay government fees, and withdraw cash at 55,000+ retail points or 600+ Commercial Bank ATMs. The service operates under Central Bank of Sri Lanka license with two wallet tiers — Classic (Rs. 10,000/day) and Power (Rs. 150,000/day).

Product overview

eZ Cash is Sri Lanka's pioneering mobile money service by Dialog Axiata PLC, operating under Central Bank of Sri Lanka license. The platform comprises a core mobile wallet accessible via USSD (#111#), Dialog Pay App, and dedicated eZ Cash App. Key add-on modules include LANKAQR (national QR payment standard), eZ Banking (Sampath Bank deposits/withdrawals), Inward Remittance services (Payoneer, UAE Exchange, NETELLER, Skrill, HomeSend), InsureMe (third-party insurance), Lesi Pay/Lesi Credit (device financing and micro-loans), GovPay (government payments), and Commercial Bank ATM withdrawals. The ecosystem also includes an Internet Payment Gateway for merchant web integrations and an eZ Cash Viber BOT for in-app payments. Users can choose between Classic Wallet (Rs.10,000 daily limit) or Power Wallet (Rs.150,000 daily limit).

Differentiator

Problem solved

Functional benefit

Brands

• Classic Wallet: Entry-level eZ Cash wallet with daily transaction limit of Rs. 10,000
• Power Wallet
• LANKAQR
• eZ Banking
• GovPay
• InsureMe
• Dialog Pay

Products and services

• eZ Cash Mobile Wallet
• USSD Mobile Money Service (#111#)
• Dialog Pay App
• LANKAQR
• eZ Banking Service
• Inward Remittance Services
• GovPay
• InsureMe
• Lesi Pay
• Lesi Credit
• Commercial Bank ATM Cardless Withdrawal
• CEFT Bank Transfer Top-up
• Internet Payment Gateway
• eZ Cash Viber BOT
• eZ Cash Business Codes

Quantifiable outcome

• Over 16 million Sri Lankan mobile subscribers connected to financial services
• +3 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature7 records

Partnerships

20 partnerships are on record, tiered core.

• Sampath BankcoreTechnology or Integration · 1 August 2022eZ Banking service enables deposits (up to Rs. 50,000/transaction) and withdrawals (up to Rs. 5,000/transaction) at eZ Banking retailers. Extended hours beyond banking branches.
• PayoneercoreTechnology or Integration · 6 April 2018Enables customers to receive international freelance payments directly to their eZ Cash wallet. Users link Payoneer account via payoneer.ezcash.lk and withdraw to eZ Cash via USSD (#111#) or app.
• HomeSendcoreTechnology or Integration · 16 July 2015Joint venture of MasterCard, eServGlobal, and BICS enabling cross-border money transfers. Allows overseas workers to send funds direct to eZ Cash mobile wallets from anywhere in the world.
• UAE ExchangecoreTechnology or IntegrationEnables remittances from UAE directly to eZ Cash accounts. Senders visit UAE Exchange outlets; recipients receive funds instantly via SMS notification.
• NetellercoreTechnology or IntegrationInstant low-cost transfer to Sri Lanka. Users can send direct to eZ Cash mobile wallet or withdraw from Neteller account to eZ Cash.
• SkrillcoreTechnology or IntegrationWithdraw freelance earnings from Skrill to eZ Cash wallet. Receive money from 200+ countries via Skrill to eZ Cash.
• AlipaycoreTechnology or IntegrationFirst partnership in Sri Lanka enabling Alipay acceptance at 20,000+ eZ Cash merchant outlets for Chinese tourists. Ant Financial Services Group's Alipay serves 700M+ users in mainland China.
• Commercial Bank of CeyloncoreTechnology or IntegrationCardless cash withdrawal at 600+ Commercial Bank ATMs displaying eZ Cash logo. Min Rs. 100, Max Rs. 5,000 per transaction. Service available for Dialog and Hutch customers.
• VisionFund LankacoreTechnology or IntegrationQR-enabled microfinance loan repayment facility. VisionFund Lanka customers scan QR cards at eZ Cash retail outlets to access loan details and make repayments. Serving 30,000+ rural families.
• HNB FinancecoreChannel Partner/ Reseller/ DistributorLoan repayments through 25,000+ eZ Cash merchant outlets island-wide. No additional charges to HNB Finance customers.
• PickMecoreChannel Partner/ Reseller/ DistributorDaily subscription fee payments for PickMe drivers via eZ Cash mobile app or 20,000+ retail outlets. Enables convenient driver subscription management.
• Sejaya CreditcoreChannel Partner/ Reseller/ DistributorLoan repayment through 55,000+ eZ Cash retailer points. Enables convenient loan management for Sejaya Credit customers in semi-urban and rural communities.
• WogicoreStrategic or Co-development PartnerGlobal rewards and incentive provider partnership enabling eZ Cash as e-voucher option for corporate rewards and loyalty programs. First mobile money e-voucher in Sri Lanka.
• Rakuten VibercoreTechnology or IntegrationFirst mobile money chatbot payments on Viber in Sri Lanka. eZ Cash BOT enables registration, wallet access, money transfers, bill payments, and reloads within the Viber messaging app.
• LankaClear / LankaPaycoreTechnology or IntegrationLankaClear co-owned by Central Bank of Sri Lanka and Licensed Commercial Banks. LANKAQR is the National QR Code Standard. JustPay platform enables bank top-ups. LankaSign provides digital certificates.
• InsureMecoreChannel Partner/ Reseller/ DistributorThird-party motor insurance purchase at eZ Cash retail outlets. Policies underwritten by top Sri Lankan insurers including Ceylinco Insurance. Available island-wide.
• Airtel LankacoreChannel Partner/ Reseller/ DistributoreZ Cash enables Airtel bill payments and reloads for 2+ million Airtel subscribers, extending eZ Cash to over 16 million total subscribers across Dialog, Etisalat (Airtel), and Hutch.
• Etisalat LankacoreChannel Partner/ Reseller/ DistributorCentral Bank approved extension of eZ Cash to Etisalat Lanka, enabling world's first fully interoperable mobile money across two mobile giants. Combined subscriber base of 12.7 million.
• Lesi Pay / Lesi CreditcoreTechnology or IntegrationDevice financing (Lesi Pay) and micro loans (Lesi Credit) for Dialog customers. Loan installments and credit disbursements settled via eZ Cash.
• Dialog Axiata PLCcoreOtherseZ Cash is a service of Dialog Axiata PLC, Sri Lanka's premier connectivity provider and largest Foreign Direct Investor (over USD 2.3 billion). Dialog Axiata Group operates Dialog, Dialog Broadband Networks, and Dialog Television.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• bKash: bKash is Bangladesh's leading mobile financial services platform with tens of millions of active accounts and a vast agent network serving unbanked consumers for P2P transfers, cash-in/out, bill pay, and merchant payments—closely analogous to eZ Cash in South Asian market dynamics and agent-based model.
• GCash (Mynt / Globe Telecom): GCash is the Philippines' dominant mobile wallet operated as a fintech within a major telecom group, offering USSD-like access, a large agent network, bill payments, remittances, and government disbursements—structurally parallel to eZ Cash as a telco-led mobile money platform.
• HNB Solo (Hatton National Bank): HNB Solo is Hatton National Bank's mobile banking app and QR payment platform, LANKAQR-interoperable, offering transfers, bill payments, and merchant acceptance. It is one of the principal bank-led competitors to eZ Cash in Sri Lanka's domestic mobile wallet market.
• FriMi (Nations Trust Bank): FriMi is a Sri Lankan bank-led mobile wallet from Nations Trust Bank, operating over LANKAQR and offering P2P transfers, bill payments, and merchant QR payments. As a direct domestic competitor interoperable with the same QR standard, it competes head-to-head with eZ Cash for Sri Lankan wallet users.
• M-Pesa (Vodafone / Safaricom): M-Pesa is the global benchmark for agent-based mobile money, operating a USSD-driven wallet with cash-in/cash-out agents, bill payments, and merchant payments across Kenya and multiple African markets—directly comparable in business model, customer segment (unbanked), and distribution approach to eZ Cash.
• Paytm (One97 Communications): Paytm is India's largest digital wallet/payments app offering mobile recharge, bill payments, P2P transfers, QR merchant payments, and banking/credit products—comparable to eZ Cash as a mobile-first digital wallet serving unbanked and underbanked consumers in a South Asian market.

Broad incumbents

• MTN MoMo (MTN Group): MTN MoMo is the mobile money service of pan-African telecom group MTN, operating across multiple African countries with USSD access, agent networks, and merchant payments—broadly comparable to eZ Cash as a telecom-led mobile money platform, though at much larger multinational scale.

Regional players

• Wing (Cambodia) / TrueMoney (Thailand): TrueMoney (and related Wing in Cambodia) are Southeast Asian telco-backed mobile money services offering agent-based cash-in/out and wallet services across different Asian markets. They are regional peers with similar agent-network and unbanked-customer focus but do not directly compete in Sri Lanka.
• Telenor Easypaisa (Pakistan): Easypaisa is Pakistan's leading mobile money platform (Telenor-led), offering USSD-based wallet, agent cash-in/out, and bill payments across an unbanked base in a South Asian market. It does not operate in Sri Lanka but is a close regional comparable to eZ Cash in market structure and customer demographics.

Others

• Dialog Finance PLC: Dialog Finance PLC is the licensed finance arm of Dialog Axiata, holding the CEFT-receiving entity for eZ Cash wallet top-ups and powering Dialog's own credit products. It is a sister/related entity that complements eZ Cash by providing the regulated financial services layer underneath the wallet.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCzBJB1CIyc6kUyFzCN0OuAg
• Facebookfacebook.com/ezcashlka
• Instagraminstagram.com/ezcash.lk
• LinkedInlinkedin.com/company/ezcashlk

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about eZ Cash