Sri Lanka launches national QR code mobile payments solution

The Central Bank of Sri Lanka (CBSL) has begun a nationwide rollout of the LankaQR digital payments solution that enables consumers to make payments to merchants and service providers directly from their bank account by scanning a QR code with their mobile device.

The solution supports the CBSL’s LankaQR standard for QR code payments and allows consumers to pay from a payments app provided by any LankaQR-certified bank or financial institution.

“LankaQR is a low-cost digital payment solution which targets small and medium enterprises especially,” the CBSL says.

“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.”

A total of 24 payments apps provided by 21 financial institutions in Sri Lanka have been certified for use with the LankaQR system to date.

The CBSL originally introduced LankaQR as a national QR standard for local currency payments in July 2019.

Sri Lanka launches national QR code mobile payments solution was written by Tom Phillips and published by NFCW.

Generated by Feedzy