Moneta introduces “Study Now, Pay Later” scheme

From left: Achievers Lanka Business School Manager Academic and Operations Amhar Auffer, Head of Business Anushan Sathananthasarma, Chairman Azad Hye, Moneta Founder and CEO Kanaganayagham Shayanthan, Business Development Manager Randu Perera, Achievers Lanka Business School Manager Marketing and Sales Amjad Mowlana and Group Accountant Ajurdeen Azarudeen

Secure lifestyle based financial assistance platform, Moneta, recently debuted an ingenious product to remove the financial barriers to study whereby students can pursue a professional or educational qualification and pay in 4 instalments, always interest-free. 

A first in Sri Lanka, this “Study Now, Pay Later” endeavour is a partnership with the country’s undisputed leader in higher education, Achievers Lanka Business School. 

It is Moneta’s belief that quality education is a must for a successful life and career. The new scheme is an extension of this thinking, to make higher education accessible to the middle class despite the economic downturn triggered by the pandemic. This endeavour sets out to ease the burden of providing/obtaining a good education off the shoulders of parents and prospective students. 

Moneta Founder and CEO Kanaganayagham Shayanthan said: “We are excited to be supporting the future generation of Sri Lanka to bring their academic/professional aspirations to fruition through education. 

“This is a brilliant opportunity for anyone looking to further their education but don’t have the means to make a substantial investment upfront. We hope our ‘Study Now Pay Later’ service, which is always interest-free, will be especially beneficial and timely under the prevailing economic climate.” Achievers Lanka Business School Chairman Azad Hye said: “Under this scheme, prospective learners can follow globally recognised qualification such as CIM, CIMA, ACCA etc that will be invaluable in today’s competitive context. We are proud to be partnering with Moneta for this endeavour as our visions align; we strive to disrupt our respective sectors through creative, innovative solutions.” 

Sans tedious paperwork or long queues, Moneta’s Machine Learning and Artificial Intelligence-driven platform has simplified and streamlined the always interest-free “Study Now, Pay Later” facility’s processing time to an impressive 10 minutes. This futuristic approach trumps all other alternatives in terms of efficiency, speed and convenience. 

“This pandemic created a lot of new opportunities for millennials. With the right education and support they can build a flourishing future. We are very proud about this partnership with Achievers, one of Sri Lanka’s top business schools, to create global professionals ready to take on the world,” Shayanthan added.

Achievers is one of the most sought-after institutions for CIM and ACCA. It has an excellent pool of lecturers, impressive pass rates and offers virtual and physical learning modes to choose from. 

Moneta has also upgraded their services portfolio to include a new service whereby customers can use their debit card as a “credit card” when making purchases. This is an extension of the ‘buy now, pay later’ philosophy. This feature materialised as a result of recently forged partnerships with several leading private and public sector stakeholders.

Moneta is a service targeted towards young executives enabling them to ‘live beyond limits.’ The service is accessible via the mobile application that is available on Google Play and App Store. Moneta’s brand philosophy lies on three pillars: Speed, Innovation and Positive Social Impact.