In a significant milestone for regional digital payment interoperability, on 12^th May 2026 Sri Lanka and Nepal officially launched cross-border QR payment connectivity, enabling Nepali travellers visiting Sri Lanka to make seamless digital payments using their domestic payment applications, including mobile banking apps and connectIPS, at more than 400,000 merchants accepting LankaQRpayments across Sri Lanka.

The launch was formally announced at a special event held in Colombo in the presence of senior officials from the Nepal Rastra Bank, Central Bank of Sri Lanka, senior representatives from Nepal Clearing House Ltd. (NCHL) andLankaPay. The initiative marks a major advancement in regional financial integration and digital payment connectivity between South Asian nations, further strengthening secure, real-time, and interoperable payment ecosystems.

Nepal and Sri Lanka share longstanding historical, cultural, and religious ties, supported by growing tourism and business exchanges between the two countries. The new cross-border QR payment arrangement is expected to significantly enhance the travel experience for Nepali tourists and business visitors by providing a convenient, secure, and cashless payment option without the hassle of physical currency exchange.The interoperability between the national payment infrastructures of Nepal and Sri Lanka also opens new opportunities for merchants, particularly small and medium-sized enterprises, by enabling access to international customers through seamless digital acceptance.

Under this arrangement, Nepali users can make real-time payments in Sri Lanka by simply scanning LankaQR codes using participating payment applications from Nepal. Transactions are processed through regulated and secure payment infrastructure, ensuring convenience, safety, and efficiency for users and merchants alike.

Neelesh Man Singh Pradhan, Chief Executive Officer of NCHL, said “This partnership with LankaPay represents a significant step towards enabling convenient, affordable, and secure cross-border QR payments for consumers and businesses between Nepal and Sri Lanka. The initiative is expected to strengthen regional payment interoperability and further promote digital economic connectivity across South Asia.”

Channa de Silva, Chief Executive Officer of LankaPay, said“The launch of cross-border QR payments between Sri Lanka and Nepal marks another important milestone in LankaPay’s journey to expand international payment interoperability. This collaboration will enhance the historical ties between the two countries whileproviding greater convenience to travelers and local businesses.This initiative will also support the broader vision of growing seamless digital payments in the region.”

The cross-border QR payment connectivity reflects the shared commitment of both countries to promote inclusive digital financial services, strengthen regional payment interoperability, and accelerate the adoption of modern payment systems. By linking the two national payment ecosystems, the initiative is expected to support tourism, trade, and people to people connectivity while contributing to the broader vision of regional digital cooperation.

Nepal Clearing House Ltd.

Nepal Clearing House Ltd. (NCHL) is a public limited company promoted by the central bank of Nepal along with banks and financial institutions in Nepal to establish and operate multiple national payment systems and infrastructures. NCHL currently operates more than ten national-level systemically important payment infrastructures in Nepal, including the Electronic Cheque Clearing (ECC), Interbank Payment System (IPS), Retail Payment Switch (RPS), connectRTGS, National Payments Interface (NPI), connectIPS, CORPORATEPAY, National Payment Switch (NPS), NEPALPAY QR, NEPALPAY Card, EFT Switch, and NPIx for cross-border payment integrations. Its systems and networks are used by all major banks and financial institutions in Nepal, along with numerous non-bank entities and government institutions. During the last fiscal year, NCHL processed non-cash transactions exceeding NPR 18.6 trillion (approximately USD 124 billion) in settlement value.

LankaPay

Established in 2002, LankaPay is Sri Lanka’s national payment network, operating under the guidance of the Central Bank of Sri Lanka. Since commencing operations as the National Cheque Clearing House, LankaPay has evolved into a cornerstone of Sri Lanka’s digital payment ecosystem, facilitating majority of the domestic interbank payments and settlements. Owned jointly by the Central Bank of Sri Lanka and public and private sector banks, LankaPay is widely regarded as one of the most successful public-private partnerships in the region. The organization remains committed to advancing digital payments and fostering a financially connected society through the development of modern, secure, and interoperable payment infrastructure.

Launched in 2020 under the patronage of the Central Bank of Sri Lanka, LANKAQR is Sri Lanka’s national QR payment platform. It is an interoperable QR code standard that complies with EMVCo specifications, enabling customers to make seamless payments across participating financial institutions using any LANKAQR-enabled mobile payment application. At present, 22 financial institutions are connected to the LANKAQR network, and Nepal Clearing House Limited (NCHL) is the fifth international payment network to connect to LANKAQR, further strengthening the country’s cross-border digital payment capabilities.

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Mastercard has announced the launch of two new payment solutions in Sri Lanka—Soundbox and Cloud Commerce marking a major step forward in expanding access to simple, secure, and affordable digital payments for small enterprises.

Unveiled at the recent Access Unlocked Summit, the new solutions reiterate Mastercard’s commitment to helping merchants participate confidently in the country’s growing digital economy.

Developed in collaboration with Ceylon Business Appliances (CBA), Commercial Bank of Ceylon, Payable Pvt Ltd, and Hatton National Bank (HNB), Soundbox is a first for Sri Lanka and allows merchants to accept multiple payment types including QR and card payments using a single piece of equipment.

A compact, easy-to-use device, Soundbox delivers instant audio confirmation for every successful transaction, helping merchants verify payments in real time without slowing down their business. Designed with speed and simplicity in mind, the solution reduces checkout delays and removes the need for multiple payment machines.

Priced well below traditional point-of-sale (POS) devices, Soundbox is set to further accelerate digital payment acceptance among small businesses that have previously found POS infrastructure too costly or complex.

In a parallel launch, Mastercard and Payable Pvt Ltd, in collaboration with Commercial Bank of Ceylon, introduced the Cloud Commerce solution, with a live transaction demonstrated at the event.

With Mastercard Cloud Commerce, a merchant’s own NFC enabled smartphone becomes a secure payment terminal eliminating the need for dedicated hardware. The solution supports Tap & Go card payments and QR transactions, making it ideal for mobile businesses and merchants on the move.

Built for flexibility and scale, Cloud Commerce also offers multi language support and digital transaction records, helping merchants manage payments efficiently in fast paced environments. Together, these launches represent a significant milestone in Mastercard’s efforts to expand digital payment access and support financial inclusion in Sri Lanka.

Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard, said, “With the launch of Soundbox and Cloud Commerce, we are removing key barriers that have traditionally limited small businesses from adopting digital payments. By offering simple, affordable, and secure solutions that work with minimal hardware, we aim to enable merchants of all sizes to participate in Sri Lanka’s growing digital economy.”

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UnionPay International has come on board as a Platinum Sponsor for the LankaPay Technnovation Awards 2026, marking its fourth consecutive year of partnership with Sri Lanka’s premier awards platform dedicated to honouring the country’s payment technology innovators.

The eighth edition, LankaPay Technnovation Awards 2026, will be held on 24 March 2026 at Cinnamon Life Colombo, under the patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest; and Hon. Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, as Guests of Honour. Under the theme “Inclusive FinTech,” this year’s LankaPay Technnovation Awards will bring together key industry stakeholders to celebrate financial institutions, FinTechs, and government agencies driving Sri Lanka’s digital economy.

Welcoming UnionPay on board, Mr. Channa de Silva, CEO of LankaPay, stated, “We are delighted to have UnionPay International continue as a valued partner of the LankaPay Technnovation Awards. Their ongoing support reflects a shared dedication to advancing Sri Lanka’s digital payment ecosystem, promoting innovation, and enhancing financial inclusion. Our long-standing collaboration with UnionPay strengthens our efforts to develop a robust, secure, and inclusive digital financial ecosystem, which paves the way for a resilient digital economy and underscores our joint commitment to recognizing and inspiring the frontrunners of purpose driven innovation within the country’s digital finance landscape”.

Expressing his views on this partnership, Mr. Cai Huiming, Regional General Manager of South Asia of UnionPay International, stated, “We are proud to continue our partnership with LankaPay as a Platinum Sponsor of the Technnovation Awards for the fourth consecutive year. This collaboration reflects our shared commitment to advancing innovation, inclusivity, and excellence in Sri Lanka’s digital payment ecosystem. The Awards provide an important platform to recognize and celebrate the pioneers of inclusive FinTech, and we are honoured to support LankaPay’s efforts in fostering an inclusive digital ecosystem. As we roll out the LankaPay/UnionPay co-badged national card, we have identified significant opportunities to expand RMB based business in collaboration with LankaPay and its issuing member bank’s, enabling more seamless and convenient cross border payment solutions for customers. In this context, the theme of this year’s event – Inclusive FinTech is particularly relevant, as it strongly aligns with our broader objective of enhancing financial connectivity, accessibility, and innovation through our ongoing partnership with LankaPay.”

UnionPay International is a global leader in the payment industry, enabling secure and seamless cross-border transactions for millions of cardholders and merchants worldwide. With card acceptance spanning 183 countries and regions, UnionPay is among the most widely accepted payment brands globally, supporting international commerce and digital payment adoption at scale. UnionPay’s innovative mobile payment solutions, including UnionPay Mobile QuickPass and UnionPay QR code payments, are now accepted in over 100 countries and regions, offering enhanced convenience, security, and flexibility for consumers and businesses in an increasingly digital economy.

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Over the past year, the Chamber of Lankan Entrepreneurs (COYLE) continued its journey of translating ambition into action under the guiding theme “Vision to Reality.” Anchored in the belief that strong entrepreneurs build strong economies, COYLE’s activities throughout the year reflected a clear philosophy: learn, develop, and then expand globally. Through a series of learning platforms, strategic partnerships, diplomatic engagements, and international collaborations, the chamber strengthened its role as a catalyst for entrepreneurial growth in Sri Lanka.

The year began with a strong emphasis on learning and development, ensuring that COYLE members were equipped with the knowledge and skills required to navigate an increasingly complex global business environment. A series of programmes and sessions were organised to address emerging challenges and opportunities facing entrepreneurs today.

Among these initiatives were specialised discussions on Artificial Intelligence and digital transformation, as well as a cybersecurity session designed to help business leaders understand the evolving digital risk landscape and how to safeguard their organisations. Complementing these efforts was a psychology and data session, which explored how behavioural insights and data-driven decision making can enhance leadership, productivity, and organisational performance.

A major highlight of COYLE’s learning agenda was the Harvard Business School program, which provided members with exposure to global leadership thinking and strategic frameworks used by some of the world’s most successful enterprises. By bringing international expertise to Sri Lanka, COYLE reaffirmed its commitment to nurturing entrepreneurs who are capable of competing on a global stage.

Further strengthening this focus on inspiration and leadership was the I Am COYLE Leadership Forum, where entrepreneurs gathered to exchange ideas and insights on business, leadership, and innovation. The forum featured former Australian cricketer, coach, and entrepreneur Jason Gillespie as keynote speaker, whose reflections on resilience, teamwork, and performance resonated strongly with the entrepreneurial community.

COYLE also remained committed to nurturing the next generation of entrepreneurs. Through its Back-to-School initiatives at Lyceum International School and D.S. Senanayake College, members of the chamber engaged directly with students, sharing experiences from their own entrepreneurial journeys and inspiring young minds to think boldly about innovation, leadership, and enterprise.

With a strong foundation in learning and development, COYLE then turned its attention to expanding Sri Lanka’s entrepreneurial connections globally. Throughout the year, the chamber strengthened its engagement with the diplomatic community in Sri Lanka. Meetings with several high commissioners and ambassadors including representatives from India, Spain, Oman, South Africa, Singapore, New Zealand, Bahrain, and Italy, created valuable opportunities to explore trade, investment, and business partnerships.

These relationships were complemented by inbound delegations facilitated by COYLE, including visiting business groups from Taiwan, Switzerland, and Nepal. These interactions enabled Sri Lankan entrepreneurs to exchange ideas with international counterparts and identify new opportunities for collaboration and market access.

COYLE also played a constructive role in national policy dialogue. During the year, the chamber submitted a comprehensive set of proposals to the President of Sri Lanka and the Presidential Secretariat as part of the national budget consultation process. These recommendations aimed to strengthen the entrepreneurial ecosystem, improve the ease of doing business, and contribute to sustainable economic growth.

Strategic partnerships further strengthened COYLE’s global engagement. During the year, the chamber signed Memorandums of Understanding with JETRO (Japan External Trade Organization), AHK Sri Lanka representing German Industry and Commerce, and the Sri Lanka New Zealand Business Chamber. These partnerships aim to expand international collaboration and open new pathways for Sri Lankan entrepreneurs seeking to enter global markets.

Another significant milestone was the launch of the COYLE World Mastercard, introduced in partnership with Sampath Bank and Mastercard, providing members with financial tools designed to support their growing business needs.

The chamber also launched and celebrated the Sri Lanka Corporate Health and Productivity Awards (SLCHPA) in collaboration with JETRO, an initiative that recognises organisations championing employee wellbeing and workplace productivity. This initiative reflects COYLE’s belief that strong businesses are built not only through innovation and growth, but through healthy and empowered workforces.

COYLE continued to foster collaboration within Sri Lanka’s broader entrepreneurial ecosystem through its engagement with the Alliance of Lankan Entrepreneurial Chambers (ALEC). This platform brings together entrepreneurial chambers across the country to promote knowledge sharing, advocacy, and international market access for Sri Lankan businesses.

Reflecting on the year, COYLE Chairman Mr. Manjula Wijesundara emphasised that the chamber’s achievements demonstrate the power of a united entrepreneurial community working towards a shared vision. By focusing first on learning and development, and then expanding its global engagement, COYLE has strengthened its role as a bridge between Sri Lankan enterprise and the international marketplace.

As COYLE moves forward, the relationships built, knowledge shared, and partnerships formed during this year of “Vision to Reality” will continue to guide the chamber’s journey empowering entrepreneurs, expanding opportunities, and shaping a globally connected future for Sri Lankan business.

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BPC—a global leader in payment solutions has come on board as a Strategic Partner of the LankaPay Technnovation Awards 2026, strengthening collaboration to recognize the trailblazers of payment technology innovation in the country. Scheduled to be held on 24 March 2026 at the Lumina Ballroom, Cinnamon Life Colombo, under the distinguished patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest, and Hon. Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy, as Guests of Honour, the eighth edition of LankaPay Technnovation will celebrate the pioneers of “Inclusive FinTech.”

Introduced in 2017, the LankaPay Technnovation Awards is the first and only national awards platform dedicated to recognizing technology innovations in the financial services sector. Aligned with the theme “Inclusive FinTech,” the LankaPay Technnovation Awards 2026 aims to expand access via digital financial services, enhance efficiency, and enable wider participation in the digital economy, while encouraging collaboration across the financial services and technology sectors.

Welcoming BPC on board, CEO – LankaPay, Mr. Channa de Silva, said, “We are pleased to welcome BPC as a strategic partner of the LankaPay Technnovation Awards 2026. This partnership is especially meaningful this year as we champion Inclusive FinTech, reinforcing our shared vision of expanding access, driving innovation, and making financial services affordable for all, thereby fostering financial inclusion.”

Speaking of the partnership, Country Director of BPC for Sri Lanka, Bangladesh and the Maldives, Mr. Subash Chandra Bowse, said, “We believe in the philosophy that Innovation is a marathon, not a sprint. We recognize LankaPay as the architect of the modern financial landscape in Sri Lanka, guiding the advancement of Sri Lanka’s digital payment ecosystem through innovation and technology leadership. BPC is proud to join hands as a Strategic Partner for LankaPay Technnovation Awards 2026.We at BPC sponsor the belief that financial technology should be a force that drives inclusion and creates economic welfare for every community, at every income level”.

With over 30 years of expertise, BPC is a global leader in Smart Digital Payment Solutions, Enterprise Level Fraud Prevention, global Marketplace, empowering Banks, Neobanks, FinTechs, Smart Cities and Governments to build user friendly, secure, and inclusive financial ecosystems. Our innovations have placed BPC as a leader in International Rankings.

Operating in over 150+ countries with over 500+ clients, BPC remains committed to driving financial innovation and inclusiveness, enabling businesses and individuals to excel in the evolving digital economy.

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LankaPay – Sri Lanka’s National Payment Network, announced the eighth edition of its flagship event, LankaPay Technnovation Awards 2026, at a press conference held on 25th February 2026 at Hilton Colombo Residencies. Recognised as Sri Lanka’s first and only awards competition dedicated to payment technology innovation, LankaPay Technnovation Awards continue to set the national benchmark for excellence in digital payments.

Honouring the theme “Inclusive FinTech,” the LankaPay Technnovation Awards 2026 recognize Financial institutions, FinTech’s as well as government institutions who have expanded access to financial services across Sri Lanka through innovation, delivering secure and convenient digital payment solutions from urban centres to the most remote communities. Having established itself as the de facto national recognition standard for payment technology innovation, the awards continue to attract strong industry and public engagement, including the online poll for the “Most Popular Digital Payment Solution of the Year 2025”. The grand finale and awards ceremony will be held on 24th March 2026 at Cinnamon Life, under the patronage of Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka, as Chief Guest, with Eng. Eranga Weerarathne, Deputy Minister of Digital Economy, attending as Guests of Honour and Dr. Hans Wijayasuriya, Chief Advisor to the President on Digital Economy.
Initiated in 2017, LankaPay Technnovation Awards aims to recognize the pioneers of technology innovations in the financial services sector of the country. The objective is to recognize the banks, non-bank financial institutions, government institutions and FinTechs who have been steadfast to the cause of promoting digital payments, thereby enhancing customer convenience.

As Sri Lanka steadily embraces digitalization, this transformation has been driven by vision, collaboration, and purposeful innovation with financial inclusion at its core. The country’s financial sector has remained resilient and forward-looking, playing a vital role in economic stability while ensuring that digital financial services reach a broader spectrum of society. As the National Payment Network, LankaPay continues to enable inclusive digital payment solutions that expand access, enhance convenience, and empower individuals, businesses, and government institutions across the country. LankaPay Technnovation Awards 2026 serve as a tribute to the pioneers of Inclusive FinTech—those who have broken barriers to access, empowered everyday lives, and brought more Sri Lankans into the digital economy. Their innovations are shaping a shared journey towards an inclusive, empowered, and future-ready nation, where progress is accessible to all.

LankaPay Technnovation Awards 2026 is aptly supported by the sponsorship of several leading players in the industry reflecting a strong industry-wide commitment towards advancing Inclusive FinTech. The Strategic Partners of the event are Mastercard, marking its second consecutive year of partnership, and BPC, which steps up as a Strategic Partner this year following its role as a Platinum Sponsor in 2025. The Platinum Sponsors are UnionPay International, partnering with the event for the fourth consecutive year, and NOVUS Technologies, associating with the LankaPay Technnovation Awards for the second time as a valued partner. The Gold Sponsor, Alipay+, continues its strong association with the event, marking its third consecutive year of partnership. The Silver Sponsors include JCB International, which has supported the LankaPay Technnovation Awards since its inception in 2017; NETS Singapore, partnering for the fifth consecutive year; and N-able, which joins the event for the first time, further strengthening this year’s sponsor lineup. Rolling & Action joins as the Official Creative Agency, partnering with the event for the second consecutive year. The Media Sponsors include Daily Mirror, Daily FT, Sunday Times, Ada Derana Biz, FM Derana, and TV Derana.

In line with its commitment to advancing financial inclusivity, the LankaPay Technnovation Awards 2026 aim to strengthen the efficiency, reach, and impact of Sri Lanka’s national payment network. The award criteria for 2026 consider interbank digital payment performance during the period from 1st January 2025 to 31st December 2025. Banks, non-banking financial institutions, FinTech service providers and government institutions that have demonstrated a steadfast commitment to inclusive digital payment innovation will compete across 12 award categories. These include: Overall Award for Excellence in Digital Payments, Excellence in Customer Convenience, Best Institution for Financial Inclusivity, Most Innovative Financial Institution, Most Popular Digital Payment Solution, Best Digital Payment App for Retail Payments, Best Enabler for Cross-border Transactions, Best Digital Government Payments Enabler, Best Government Institution for GovPay, Best LankaPay Card Enabler, Best Enabler for LankaSign Digital Signatures, and Best Digital Payment Strategy.

The initial shortlisting for the LankaPay Technnovation Awards 2026 was conducted based on predefined set of evaluation criteria, which were communicated at the commencement of the assessment period and subjected to an independent audit process. In the second phase of evaluation, the shortlisted institutions presented their success stories before an independent and distinguished panel of judges.

The Chairman of the Panel of Judges is Mr. Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange and Chairman of the Data Protection Authority of Sri Lanka. He is also a member of the Nominations and Governance Committee of the World Federation of Stock Exchanges (WFE). The esteemed judging panel further comprises Mr. Manil Jayesinghe, Chairman of the Statutory Accounting Standards Committee and Accounting Standards Committee of the South Asian Federation of Accountants (SAFA), and Former Country Managing Partner of Ernst & Young Sri Lanka & Maldives; Mr. Sujeewa Rajapakse, Managing Partner of BDO Partners and Former Chairman of the Statutory Auditing Standards Committee; Mr. Lasantha Wickremasinghe, Partner at B R De Silva & Company and Past President of Institute of Chartered Accountants of Sri Lanka; Ms. Chamila Cooray, General Manager – Shared Services at Hemas C O E (Pvt) Ltd and Chairperson of the prestigious TAGS Awards 2025/26 organized by CA Sri Lanka; and Mr. Dulith Herath, Founder and Chairman of Kapruka PLC, Sri Lanka’s largest e-commerce enterprise.

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