LankaPay – Newswire https://www.newswire.lk Sri Lanka's largest News aggregator Tue, 26 May 2026 12:59:35 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.6 https://www.newswire.lk/wp-content/uploads/2020/05/favicon.png LankaPay – Newswire https://www.newswire.lk 32 32 LankaPay and eMudhra Launch Remote Digital Signature Solution with Commercial Bank as the First Bank to Come Onboard https://www.newswire.lk/business/lankapay-and-emudhra-launch-remote-digital-signature-solution-with-commercial-bank-as-the-first-bank-to-come-onboard/ Tue, 26 May 2026 11:23:30 +0000 https://www.newswire.lk/?p=237808

LankaPay, Sri Lanka’s National Payment Network, announced the launch of the eMudhra e-Sign Remote Signature with LankaSign, in collaboration withContinue Reading

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Mr. Channa de Silva, CEO of LankaPay
Mr. Channa de Silva, CEO of LankaPay

LankaPay, Sri Lanka’s National Payment Network, announced the launch of the eMudhra e-Sign Remote Signature with LankaSign, in collaboration with eMudhra Limited at an event held on 22nd May 2026 at Shangri-La Colombo, with Commercial Bank of Ceylon PLC becoming the first bank in Sri Lanka to be onboarded to this facility, further strengthening its leadership in introducing innovative digital solutions to customers.

eMudhra Limited is a globally recognized provider of digital trust services, specializing in secure digital signatures, authentication frameworks, and certificate-based solutions across international markets. This collaboration brings together eMudhra’s global expertise in Public Key Infrastructure (PKI) technologies with LankaSign’s established role as Sri Lanka’s only commercially operating Certification Service Provider, trusted for enabling legally recognized digital signatures within financial sector, Corporates and Government.

By combining these strengths, the solution delivers a secure and scalable remote signature capability tailored for Sri Lanka’s digital landscape. It reinforces the interoperability of global technology standards with locally governed trust frameworks, enabling a seamless and compliant digital signing experience for users across sectors.

Mr. Kaushik Srinivasan, Co-Founder of eMudhra
Mr. Kaushik Srinivasan, Co-Founder of eMudhra

Commercial Bank of Ceylon PLC, Sri Lanka’s largest private sector bank and a leader in digital banking innovation, continues to introduce technologically advanced solutions that enhance customer convenience, security, and accessibility. Through this initiative, the Bank is set to introduce Sri Lanka’s first remote digital signature facility within the banking sector using eMudhra’s eSignature platform emSigner integrated with LankaSign, further reinforcing its commitment to driving digital transformation and pioneering industry-first innovations that support the country’s evolving digital economy.

The launch marks a significant milestone in Sri Lanka’s digital transformation journey and further strengthens LankaPay’s commitment to enabling secure, innovative, and inclusive digital infrastructure. The event was attended by senior officials from the Central Bank of Sri Lanka leading banks, financial institutions, and key stakeholders from across the country’s financial and digital services sectors.

Mr. Sanath Manatunge, MD/CEO of Commercial Bank of Ceylon PLC
Mr. Sanath Manatunge, MD/CEO of Commercial Bank of Ceylon PLC

Through this collaboration, organizations and individuals in Sri Lanka can remotely sign documents securely using eMudhra solution and LankaSign digital certificates, eliminating the need for physical paperwork, manual signatures, and in-person verification processes. The solution enhances convenience, speed, and accessibility by enabling users to sign documents anytime, anywhere through a fully digital workflow. By removing reliance on printing, scanning, couriering, and physical meetings, it significantly improves operational efficiency while reducing administrative overheads.

Commercial Bank of Ceylon PLC will leverage this capability to offer customers a secure and seamless remote digital signing experience, enabling faster onboarding, improved digital banking services, and enhanced customer convenience through fully digital and legally compliant document execution processes.

The integration of eMudhra’s advanced remote signing technology with LankaSign is expected to accelerate the adoption of digital documentation across key industries including banking, finance, government services, insurance, and corporate sectors, where secure document workflows are essential. This initiative further supports LankaPay’s broader efforts to strengthen Sri Lanka’s digital infrastructure by enabling trusted digital signatures that enhance efficiency while reducing dependency on paper-based processes. It also contributes to sustainability goals by minimizing paper usage and supporting environmentally responsible operations.

Panel Discussion (L-R) Mr. Channa de Silva, CEO of LankaPay; Mr. Jayantha Fernando, Architect of the Electronic Transactions Act and Co-Chair of NCA Taskforce; Mr. Sanath Manatunge, Chairman of Sri Lanka Banks' Association (SLBA) and Managing Director/CEO of Commercial Bank; Mr. Sanjee Balasuriya, Chief Information Security Officer of CBSL; Mr. Kaushik Srinivasan - CoFounder - eMudhra Limited; Mr. Sujit Christy – President of CIRCULO DE CISO
Panel Discussion (L-R) Mr. Channa de Silva, CEO of LankaPay; Mr. Jayantha Fernando, Architect of the Electronic Transactions Act and Co-Chair of NCA Taskforce; Mr. Sanath Manatunge, Chairman of Sri Lanka Banks’ Association (SLBA) and Managing Director/CEO of Commercial Bank; Mr. Sanjee Balasuriya, Chief Information Security Officer of CBSL; Mr. Kaushik Srinivasan – CoFounder – eMudhra Limited; Mr. Sujit Christy – President of CIRCULO DE CISO

The event had a thought-provoking panel discussion titled “Digital Signatures as the Foundation of Digital Trust” brought together leading experts from the fields of cybersecurity, digital governance, banking, and digital payments to discuss the growing importance of trusted digital ecosystems in an increasingly connected world. Moderated by Sujit Cristy, Chief Information Security Officer and Cybersecurity Adviser and President of CIRCULO DE CISO, the panel featured distinguished industry leaders including Jayantha Fernando, Architect of the Electronic Transactions Act and Co-Chair of the NCA Taskforce; Sanath Manatunge, Chairman of the Sri Lanka Banks’ Association and CEO of Commercial Bank of Ceylon PLC; Sanjee Balasuriya, Chief Information Security Officer of the Central Bank of Sri Lanka; Channa de Silva, CEO of LankaPay; and Kaushik Srinivasan, Co-Founder of eMudhra Limited. The discussion explored the critical role of digital signatures in enabling secure digital transactions, strengthening regulatory compliance, enhancing customer trust, and accelerating Sri Lanka’s digital transformation journey.

Commenting on the launch, Mr. Channa de Silva, Chief Executive Officer of LankaPay, stated “We are delighted to partner with eMudhra to introduce remote digital signature capabilities through LankaSign. This initiative reflects our continued commitment to driving innovation that enables seamless business processes while supporting Sri Lanka’s journey towards a digitally empowered economy. By enabling secure and legally compliant digital signatures, we are not only enhancing convenience but also reinforcing trust among businesses and individuals alike.”

Speaking on the collaboration, Mr. Kaushik Srinivasan, Co-Founder of eMudhra Limited stated “We are pleased to collaborate with LankaPay to bring our remote digital signature capabilities to Sri Lanka through LankaSign. This signing capability is natively integrated into emSigner, our flagship enterprise eSignature workflow platform, empowering organizations to execute digital signature workflows entirely online — eliminating paper-based workflows and enabling faster, more efficient business processes across banking, corporate, and government sectors. This partnership combines our global expertise in PKI-based trust technologies with strong local certification infrastructure, enabling secure, compliant, and convenient digital transactions.”

Commenting on the initiative, Mr. Sanath Manatunge, Managing Director/CEO of Commercial Bank of Ceylon PLC, stated “As Sri Lanka’s largest private sector bank, we have consistently remained at the forefront of introducing innovative and technologically advanced banking solutions that enhance customer convenience and support the country’s digital transformation journey. We are proud to become the first bank in Sri Lanka to be onboarded onto this remote digital signature platform, marking another significant milestone in our ongoing commitment to pioneering industry-first digital banking innovations. This initiative will further strengthen secure digital interactions while enabling faster, more seamless, and fully digital customer experiences, while also supporting the Bank’s sustainability agenda by reducing reliance on paper-based processes and promoting environmentally responsible banking practices.”

Official Launch of eMudhra e-sign Remote Signature (L-R) Mr. Kaushik Srinivasan - CoFounder - eMudhra Limited; Mr. L H A Lakshman Silva, Chairman of LankaPay; Mr. Sanath Manatunge, Managing Director/CEO of Commercial Bank; and Mr. Channa de Silva, CEO of LankaPay.
Official Launch of eMudhra e-sign Remote Signature (L-R) Mr. Kaushik Srinivasan – CoFounder – eMudhra Limited; Mr. L H A Lakshman Silva, Chairman of LankaPay; Mr. Sanath Manatunge, Managing Director/CEO of Commercial Bank; and Mr. Channa de Silva, CEO of LankaPay.

LankaSign, operated by LankaPay, continues to play a pivotal role in enabling trusted digital authentication services in Sri Lanka by offering secure and legally recognized digital signature solutions that support the country’s growing digital economy.

With the launch of the eMudhra e-Sign Remote Signature, LankaPay further strengthens its position as a key driver of Sri Lanka’s digitally enabledeconomy and continues to foster innovation that supports the nation’s digital future.

 

LankaPay

LankaPay is Sri Lanka’s National Payment Network responsible for operating the country’s critical payment infrastructure under the guidance of the Central Bank of Sri Lanka. It continues to drive innovation through secure and convenient digital payment and authentication solutions that support financial inclusion and digital transformation.

 

eMudhra

eMudhra is a publicly listed global organization aimed at empowering secure digital transformation by offering trust services and developing solutions around identity, authentication and digital signatures. eMudhra is a global trust service provider and India’s largest Certifying Authority, having managed over 100 million digital identities.

eMudhra has a strong marquee client list including Fortune 100 clients, and over 1100 large enterprises who use its products and solutions for their secure digital transformation initiatives. eMudhra has 850+ employees in offices across 15 locations in 5 regions, serving customers across 35+ countries.

 

Commercial Bank of Ceylon PLC

Commercial Bank of Ceylon PLC is Sri Lanka’s largest private sector bank and one of the country’s most respected and awarded financial institutions. The first Sri Lankan bank to achieve a market capitalisation exceeding US$ 1 billion and to be listed among the Top 1000 Banks of the World, Commercial Bank is also the country’s largest private sector lender and the largest lender to the SME sector. A leader in digital banking innovation and Sri Lanka’s first 100% carbon-neutral bank, Commercial Bank operates an extensive network of branches and automated banking machines island-wide, while maintaining the widest international footprint among Sri Lankan banks with operations in Bangladesh, the Maldives, Myanmar, and a representative office in the Dubai International Financial Centre (DIFC).

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Sri Lanka and Nepal Launch Cross-Border Digital Payment Connectivity to Strengthen Regional Financial Integration https://www.newswire.lk/business/sri-lanka-and-nepal-launch-cross-border-digital-payment-connectivity-to-strengthen-regional-financial-integration/ Wed, 13 May 2026 19:25:04 +0000 https://www.newswire.lk/?p=235991 (L-R): Mr. Umesh Singh Bhandari, Board Of Director, Nepal Clearing House Limited and DCEO, Shangri-La Development Bank Ltd; Mr. Neelesh Man Singh Pradhan, Chief Executive Officer (CEO) - Nepal Clearing House Limited; Ms. Roshani Karki, Asst. Director, Payment Systems Department - Nepal Rastra Bank; Ms. Samjhana Dhakal, Director, Payment Systems Department - Nepal Rastra Bank; Mr. C. P. S. Bandara, Assistant Governor – Central Bank of Sri Lanka; Mr. K. V. K. Alwis; Director, Payment and Settlement – Central Bank of Sri Lanka; Ms. Manisha Wimalasuriya, Additional Director, Payment and Settlement – Central Bank of Sri Lanka; Mr. Channa De Silva, Chief Executive Officer – LankaPay (Private) Limited; and Mr. Dinuka Perera Deputy Chief Executive Officer – LankaPay (Private) Limited

Nepalis travelling to Sri Lanka can now use their domestic payment app to scan & pay atmore than 400,000 LankaQRContinue Reading

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Nepalis travelling to Sri Lanka can now use their domestic payment app to scan & pay atmore than 400,000 LankaQR merchants

(L-R): Mr. Umesh Singh Bhandari, Board Of Director, Nepal Clearing House Limited and DCEO, Shangri-La Development Bank Ltd; Mr. Neelesh Man Singh Pradhan, Chief Executive Officer (CEO) - Nepal Clearing House Limited; Ms. Roshani Karki, Asst. Director, Payment Systems Department - Nepal Rastra Bank; Ms. Samjhana Dhakal, Director, Payment Systems Department - Nepal Rastra Bank; Mr. C. P. S. Bandara, Assistant Governor – Central Bank of Sri Lanka; Mr. K. V. K. Alwis; Director, Payment and Settlement – Central Bank of Sri Lanka; Ms. Manisha Wimalasuriya, Additional Director, Payment and Settlement – Central Bank of Sri Lanka; Mr. Channa De Silva, Chief Executive Officer – LankaPay (Private) Limited; and Mr. Dinuka PereraDeputy Chief Executive Officer – LankaPay (Private) Limited
(L-R): Mr. Umesh Singh Bhandari, Board Of Director, Nepal Clearing House Limited and DCEO, Shangri-La Development Bank Ltd; Mr. Neelesh Man Singh Pradhan, Chief Executive Officer (CEO) – Nepal Clearing House Limited; Ms. Roshani Karki, Asst. Director, Payment Systems Department – Nepal Rastra Bank; Ms. Samjhana Dhakal, Director, Payment Systems Department – Nepal Rastra Bank; Mr. C. P. S. Bandara, Assistant Governor – Central Bank of Sri Lanka; Mr. K. V. K. Alwis; Director, Payment and Settlement – Central Bank of Sri Lanka; Ms. Manisha Wimalasuriya, Additional Director, Payment and Settlement – Central Bank of Sri Lanka; Mr. Channa De Silva, Chief Executive Officer – LankaPay (Private) Limited; and Mr. Dinuka Perera
Deputy Chief Executive Officer – LankaPay (Private) Limited

In a significant milestone for regional digital payment interoperability, on 12th 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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Sampath Bank Becomes the First Bank in SL to Launch Weekend & Holiday POS Settlements for CEYPETCO Fuel Stations https://www.newswire.lk/business/sampath-bank-becomes-the-first-bank-in-sl-to-launch-weekend-holiday-pos-settlements-for-ceypetco-fuel-stations/ Fri, 16 May 2025 11:50:02 +0000 https://www.newswire.lk/?p=187318

  Reaffirming its position as a trailblazer in Sri Lanka’s banking sector, Sampath Bank has become the first local bankContinue Reading

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Ayodhya Iddawela Perera, Managing Director of Sampath Bank (6th from left), exchanges the partnership agreement with D.J.A.S. De S. Rajakaruna, Chairman of the Ceylon Petroleum Corporation (6th from right), in the presence of senior representatives from both organisations

 

Reaffirming its position as a trailblazer in Sri Lanka’s banking sector, Sampath Bank has become the first local bank to launch a next-day POS settlement feature that functions seamlessly across weekends and public holidays.

Introduced in collaboration with the Ceylon Petroleum Corporation (CEYPETCO), this pioneering solution is a national first, tailored specifically for CEYPETCO fuel stations, and sets a new benchmark in merchant acquiring services. The initiative showcases Sampath Bank’s continued commitment to convenience-led innovation and marks a significant stride in enabling operational excellence for businesses across the island.

This transformative settlement feature ensures that CEYPETCO station owners receive card transaction funds in their accounts as early as the next day, regardless of whether the transaction takes place on a weekday, weekend or public holiday. This consistent access to funds allows for better liquidity management and supports the smooth continuation of daily business operations.

Commenting on this milestone partnership, Mr Shiran Kossinna, Assistant General Manager – Card Centre at Sampath Bank, said, “Sampath Bank continues to redefine merchant acquiring services through convenience-led innovation. Our partnership with CEYPETCO demonstrates how the right blend of technology and collaboration can meaningfully transform everyday business operations. Introducing this first-of-its-kind solution in Sri Lanka is not just a milestone for the bank, but also a progressive step toward building a more digitally empowered and financially inclusive economy.”

The new system offers several tangible benefits to CEYPETCO fuel station operators, including improved cash flow that enables smoother operations, lower insurance costs through reduced cash handling risks, and a decreased cost of funds due to quicker access to revenue. Sampath Bank’s POS terminals accept Visa, Mastercard, UnionPay, JCB, and LankaPay credit and debit cards, and are backed by 24/7 technical support along with easy access to transaction details through the Bank’s e-statement facility.

In addition to POS settlements, Sampath Bank is the only bank offering real-time crediting of cash and cheque collections as per standard clearing time-lines for CEYPETCO station owners. Available daily until 8:00 PM, including holidays, this service ensures immediate access to funds and added convenience through doorstep collection by CBSL-appointed service providers.

This initiative forms part of Sampath Bank’s broader commitment to supporting Sri Lanka’s digital transformation agenda, in alignment with the Central Bank of Sri Lanka’s vision for a cashless, financially inclusive future.

CEYPETCO station operators interested in accessing this facility can contact 0767 922 375 – Suranga Ananda for more information.

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Mastercard & LankaPay unveil a three-fold plan to accelerate Sri Lanka’s digital economy https://www.newswire.lk/business/mastercard-and-lankapayunveil-a-three-fold-plan-to-accelerate-sri-lankas-digital-economy/ Thu, 08 May 2025 13:00:32 +0000 http://www.newswire.lk/?p=186411

  Reaffirming its commitment to bolstering Sri Lanka’s digital economy, Mastercard and LankaPay, the national payment network of Sri Lanka,Continue Reading

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(L-R): Sandun Hapugoda (Country Manager – Sri Lanka and Maldives, Mastercard),Vikas Varma (Chief Operating Officer – South Asia, Mastercard), Gautam Aggarwal (Division President – South Asia, Mastercard), Mahesha Amarasuriya (Director Account Management, Mastercard), L H A Lakshman Silva, (Chairman – LankaPay), Channa de Silva (Chief Executive Officer – LankaPay) and Dinuka Perera (Deputy Chief Executive Officer – LankaPay).

Reaffirming its commitment to bolstering Sri Lanka’s digital economy, Mastercard and LankaPay, the national payment network of Sri Lanka, today announced a strategic collaboration to enhance cards issuance, and digital payments acceptance and security. The announcement was made during an event featuring senior executives from the two entities, along with key representatives of leading banks and fintechs in the country.

This collaboration will enable three key solutions—a co-branded debit card to accelerate digital adoption and financial inclusion, Mastercard Pay Local solution to enable low-cost QR payments for inbound tourists and domestic merchants, and Mastercard’s Brighterion AI solutions for advanced transaction security.

The Mastercard-LankaPay co-branded debit card will deliver enhanced value to cardholders through Priceless Specials, a unified digital platform enabling exclusive offers. Similarly, Mastercard Travel and Lifestyle Services  will provide cardholders with global concierge services and travel deals.

Notably, issuing banks in Sri Lanka will be able to seamlessly integrate the new card into their existing business models, aligning with the government’s push for digital adoption while enhancing consumer engagement.

Further, Mastercard’s Pay Local solution will be enabled for inbound tourists to link their credit and debit cards with the LankaPay app to make instant payments at over 400,000 LankaQR merchants in their home currency. This will promote digital payments adoption among businesses, especially SMEs, thereby formalizing tourism revenue.

At the same time, Mastercard’s Brighterion AI solutions will provide real-time intelligence across diverse data sources to optimize fraud detection and customer experience across LankaPay network. By analyzing customer and network-level insights, Brighterion’s advanced algorithms will generate real-time fraud risk scores, enabling organizations to mitigate risks and maintain seamless user experience. The solution adapts to any data type, volume, or complexity, offering scalable protection for financial ecosystems.

Brighterion AI solutions will ensure that ATM and account-to-account transfers in Sri Lanka will now be secured by an advanced, AI-driven security layer, a first-of-its-kind upgrade, providing real-time fraud detection and enhanced protection.

Highlighting the significance of the collaboration, Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard, said, “This three-fold approach will further strengthen the core pillars of Sri Lanka’s digitization agenda— accessibility, security, and innovation. From ensuring seamless card issuance to securing payments and enabling global tourists to transact with great ease, this collaboration between Mastercard and LankaPay will unlock exciting opportunities for all stakeholders.”

Applauding the partnership, Channa de Silva, CEO, LankaPay, said, “This is a significant milestone in LankaPay’s global journey. We have been at the forefront of moving the financial inclusiveness needle forward in the country and this collaboration with Mastercard is a step in the same direction. The key initiatives unveiled as part of this association will ensure that the financial sector would benefit via enhanced value and improved security. At the same time, the domestic tourism industry would also benefit from seamless payments for travelers, thereby facilitating the much-needed foreign exchange into the country.”

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LankaPay announces acceptance of UPI payments at LankaQR merchant points https://www.newswire.lk/2024/05/17/lankapay-announces-acceptance-of-upi-payments-at-lankaqr-merchant-points/ Fri, 17 May 2024 03:51:54 +0000 http://www.newswire.lk/?p=147407

LankaPay – Sri Lanka’s National Payment Network announced its partnership with PhonePe – one of India’s most popular FinTech appsContinue Reading

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LankaPay – Sri Lanka’s National Payment Network announced its partnership with PhonePe – one of India’s most popular FinTech apps – towards accepting UPI payments at LankaQR merchant points at a grand event held at ITC Ratnadipa in Colombo on Wednesday (May 15). 

The event was graced by the High Commissioner of India to Sri Lanka, Santosh Jha as the Chief Guest, who highlighted the key role played by fintech connectivity in the overall connectivity between India and Sri Lanka.  

Addressing the gathering, the Guest of Honour – Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka (CBSL), acknowledged the collaboration’s capacity to unlock new opportunities and enhance competitiveness and the benefits that it would bring to Sri Lankan merchants.

Channa de Silva, CEO – LankaPay also made an insightful presentation at the event giving a snapshot of Sri Lanka’s digital payment landscape followed by an insightful panel discussion on ‘The Future of Digital Payments in Sri Lanka: Opportunities for Sri Lankan Businesses,’ which focused on the possibilities and growth avenues for local businesses. 

The session featured Shashi Kandambi, GM/CEO, National Savings Bank; Sanjay Wijemanne, COO, Hatton National Bank PLC; Conrad Dias, Chairman, LOLC Finance PLC; and Renuka Fernando, Chairperson, Dialog Finance PLC who discussed how businesses can leverage digital payment technologies and tap into a wider market to stay competitive in an evolving economic landscape. The session was moderated by Channa de Silva, CEO – LankaPay.

Following the panel discussion, Ritesh Pai, the CEO of International Payments at PhonePe, unveiled insights on leveraging UPI for global markets and the growth prospects it offers for merchants.

The event also saw the presence of several key stakeholders from the Sri Lankan financial landscape, including senior representatives from the Banking sectors, Payment System Providers, and representatives from the tourism sector and business associations. This alliance is facilitated through LankaPay’s partnership with NPCI International Payments Limited (NIPL).

During the event, PhonePe announced that its app users travelling to Sri Lanka can now make payments using UPI across LankaPayQR merchants nationwide. 

Users can simply scan LankaQR code to make secure and quick payments without carrying cash or calculating currency conversions. Their account will be debited in INR, showing the currency exchange rate. These transactions are facilitated by the Unified Payments Interface (UPI) and LankaPay National Payment Network.

Speaking on the occasion, High Commissioner of India to Sri Lanka, Santosh Jha shared that, “The UPI launch is an important part of a larger goal for both countries to collaborate through a digital partnership.” He mentioned that “India is also supporting Sri Lanka in the development of its Unique Digital Identity Program and other components of the Digital Stack that has immense transformative potential for Sri Lanka and the bilateral economic partnership.” 

Ritesh Pai, CEO, International Payments, PhonePe, added, “We are thrilled to announce our partnership with LankaPay. This collaboration offers unparalleled convenience to Indian tourists who can now use a familiar and secure payment method while traveling and pay across LankaQR merchant points. PhonePe has always been at the forefront of driving innovation in payments. We are incredibly proud to be driving UPI adaptation across India, and our expansion to Sri Lanka is another exciting step forward.”

Channa de Silva, CEO, LankaPay, added, “LankaPay is delighted to collaborate with PhonePe to revolutionize the cross-border payments between Sri Lanka and India. This partnership is bound to provide greater convenience to Indian Tourists and Business Travelers in making seamless UPI payments at all LankaQR merchant points in Sri Lanka via PhonePe app. We are excited about the potential of this collaboration that would enhance payment experience to Indian tourists and business travellers during their stay in Sri Lanka and also provide the merchants with a cost-effective proposition to card payments. I envisage that innovation to be the cornerstone of this alliance and would lead to further strengthening of bilateral relations between the two countries.” (Newswire)

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