FINANCIAL CHRONICLE – Short Circuit Group has acquired Payables, a digital payment platform in Sri Lanka, enhancing its transaction volume by $200 million. This acquisition introduces over 4,000 merchants to Short Circuit Group, enabling the company to transition from merely providing services to actively managing and monetizing payment processes, as stated in their social media announcement.
Bhanuka Harischandra, the Managing Director of Short Circuit Group, commented, “With the acquisition of Payables, we are evolving from simply supporting businesses to fundamentally powering the financial infrastructure that supports them.”
He further explained that this strategic move will allow the group to take ownership of transaction flows, enhance the quality of revenue, and develop a more robust and sustainable platform over time.
Payables, which has been profitable since the fiscal year 2022, has ambitious plans for growth over the next five years, targeting the addition of over 10,000 new merchants and aiming for a transaction volume of $8.9 billion. (Colombo/May 12/2026)
