The National LankaQR Initiative “Rata Puraama LankaQR” was launched yesterday (5) at the Central Bank of Sri Lanka (CBSL) to popularise LankaQR, which was introduced by the CBSL together with licensed financial institutions and LankaClear (Pvt.) Ltd. with the aim of moving towards a “less-cash” society while increasing financial inclusion in Sri Lanka.
Minister of Trade Dr. Bandula Gunawardana launched the initiative as the Chief Guest in the presence of State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal; State Minister of Co-operative Services, Marketing Development, and Consumer Protection Lasantha Alagiyawanna; State Minister of Samurdhi, Household Economy, Microfinance, Self-Employment, Business Development, and Underutilised State Resources Development Shehan Semasinghe; CBSL Governor Prof. W.D. Lakshman; and members of the Monetary Board including Treasury Secretary S.R. Attygalle. Heads of several government departments, financial institutions, as well as leaders of the retail, health, and media industries and representatives from chambers of commerce were also present.
LankaQR enables customers to make payments directly from their bank accounts to accounts of merchants or service providers, using payment apps of LankaQR-certified financial institutions. LankaQR is a low-cost digital payment solution which targets small and medium enterprises especially. Customers will not be charged for using LankaQR-based payments. Merchants are provided with the LankaQR-printed sticker free of charge by the member institutions of LankaQR to be displayed at their places of business. The maximum Merchant Discount Rate (MDR – fees paid by merchants to the bank that issues the LankaQR code) will be 0.5% during 2020. In addition, all payments for government services through LankaQR have been mandated to be free of charge during 2020. Given the numerous benefits to the economy and the public, the CBSL and financial institutions aim to increase the availability of LankaQR in Sri Lanka to one million merchants by the end of 2020.
CBSL Deputy Governor K.M.M. Siriwardana, welcoming the audience, stated that this initiative would increase financial inclusion in the country, strengthen trade, and lead the economy on the path to prosperity.
Dharmasri Kumaratunge highlighted the benefits of LankaQR and noted that it was the result of teamwork of Sri Lankans without any foreign assistance, saving the country millions of rupees.
CBSL Governor Prof. Lakshman stated that this is a historic moment where all financial institutions came together energetically to promote a payment system that has immense benefits to the public. State Minister Nivard Cabraal emphasised the importance of adopting new technologies for trade and economic development. Furthermore, recognising the importance of efficient and secure payments and settlement systems for a country, he noted that the CBSL has been modernising Sri Lanka’s payments and settlements systems since the early 2000s and praised the continued adoption of new technologies that provided Sri Lankans with more opportunities for trade and commerce.
Chief Guest Minister of Trade Dr. Gunawardana congratulated the CBSL and financial institutions for introducing LankaQR and encouraged all businesses and government services to adopt LankaQR so that the general public can enjoy the benefits of digital payments at a very low cost. The Minister also requested financial institutions to waive off charges for LankaQR transactions below Rs. 100, and requested state media and other media organisations, as well as all businesses to extend their fullest support to this national initiative. To mark the launch of the “රට පුරාම LankaQR” initiative, the Minister made a donation to the “Itukama” Covid fund using a LankaQR-based mobile app.
The national campaign of “රට පුරාම LankaQR” will be held on Saturday, 10 October 2020, where all LankaQR-certified banks, finance companies, and e-money service providers will open branches islandwide to onboard new merchants. The public and merchants are invited to participate in the islandwide campaign and begin using LankaQR to make payments.
LankaQR-compliant QR codes are currently issued by the Bank of Ceylon, Cargills Bank Ltd., Commercial Bank of Ceylon PLC, DFCC Bank PLC, Hatton National Bank PLC, National Development Bank PLC, National Savings Bank, Nations Trust Bank PLC, People’s Bank, Sampath Bank PLC, Sanasa Development Bank PLC, LB Finance PLC, LOLC Finance PLC, People’s Leasing and Finance PLC, Dialog Axiata PLC, and Mobitel (Pvt.) Ltd. The LankaQR-enabled apps are BOC SmartPay, DirectPay, Onepay, OrelPay, ComBank Q+, Flash, DFCC Pay, FriMi, NDB NEOS, SOLO, WePay, UPay, CIM, iPay, Dialog eZ Cash, and Mobitel mCash.National LankaQR initiative launched by Central Bank
06 Oct 2020
National LankaQR initiative launched by Central Bank
06 Oct 2020
The National LankaQR Initiative “Rata Puraama LankaQR” was launched yesterday (5) at the Central Bank of Sri Lanka (CBSL) to popularise LankaQR, which was introduced by the CBSL together with licensed financial institutions and LankaClear (Pvt.) Ltd. with the aim of moving towards a “less-cash” society while increasing financial inclusion in Sri Lanka.
Minister of Trade Dr. Bandula Gunawardana launched the initiative as the Chief Guest in the presence of State Minister of Money and Capital Market and State Enterprise Reforms Ajith Nivard Cabraal; State Minister of Co-operative Services, Marketing Development, and Consumer Protection Lasantha Alagiyawanna; State Minister of Samurdhi, Household Economy, Microfinance, Self-Employment, Business Development, and Underutilised State Resources Development Shehan Semasinghe; CBSL Governor Prof. W.D. Lakshman; and members of the Monetary Board including Treasury Secretary S.R. Attygalle. Heads of several government departments, financial institutions, as well as leaders of the retail, health, and media industries and representatives from chambers of commerce were also present.
LankaQR enables customers to make payments directly from their bank accounts to accounts of merchants or service providers, using payment apps of LankaQR-certified financial institutions. LankaQR is a low-cost digital payment solution which targets small and medium enterprises especially. Customers will not be charged for using LankaQR-based payments. Merchants are provided with the LankaQR-printed sticker free of charge by the member institutions of LankaQR to be displayed at their places of business. The maximum Merchant Discount Rate (MDR – fees paid by merchants to the bank that issues the LankaQR code) will be 0.5% during 2020. In addition, all payments for government services through LankaQR have been mandated to be free of charge during 2020. Given the numerous benefits to the economy and the public, the CBSL and financial institutions aim to increase the availability of LankaQR in Sri Lanka to one million merchants by the end of 2020.
CBSL Deputy Governor K.M.M. Siriwardana, welcoming the audience, stated that this initiative would increase financial inclusion in the country, strengthen trade, and lead the economy on the path to prosperity.
Dharmasri Kumaratunge highlighted the benefits of LankaQR and noted that it was the result of teamwork of Sri Lankans without any foreign assistance, saving the country millions of rupees.
CBSL Governor Prof. Lakshman stated that this is a historic moment where all financial institutions came together energetically to promote a payment system that has immense benefits to the public. State Minister Nivard Cabraal emphasised the importance of adopting new technologies for trade and economic development. Furthermore, recognising the importance of efficient and secure payments and settlement systems for a country, he noted that the CBSL has been modernising Sri Lanka’s payments and settlements systems since the early 2000s and praised the continued adoption of new technologies that provided Sri Lankans with more opportunities for trade and commerce.
Chief Guest Minister of Trade Dr. Gunawardana congratulated the CBSL and financial institutions for introducing LankaQR and encouraged all businesses and government services to adopt LankaQR so that the general public can enjoy the benefits of digital payments at a very low cost. The Minister also requested financial institutions to waive off charges for LankaQR transactions below Rs. 100, and requested state media and other media organisations, as well as all businesses to extend their fullest support to this national initiative. To mark the launch of the “රට පුරාම LankaQR” initiative, the Minister made a donation to the “Itukama” Covid fund using a LankaQR-based mobile app.
The national campaign of “රට පුරාම LankaQR” will be held on Saturday, 10 October 2020, where all LankaQR-certified banks, finance companies, and e-money service providers will open branches islandwide to onboard new merchants. The public and merchants are invited to participate in the islandwide campaign and begin using LankaQR to make payments.
LankaQR-compliant QR codes are currently issued by the Bank of Ceylon, Cargills Bank Ltd., Commercial Bank of Ceylon PLC, DFCC Bank PLC, Hatton National Bank PLC, National Development Bank PLC, National Savings Bank, Nations Trust Bank PLC, People’s Bank, Sampath Bank PLC, Sanasa Development Bank PLC, LB Finance PLC, LOLC Finance PLC, People’s Leasing and Finance PLC, Dialog Axiata PLC, and Mobitel (Pvt.) Ltd. The LankaQR-enabled apps are BOC SmartPay, DirectPay, Onepay, OrelPay, ComBank Q+, Flash, DFCC Pay, FriMi, NDB NEOS, SOLO, WePay, UPay, CIM, iPay, Dialog eZ Cash, and Mobitel mCash.Kapruka
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!