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.