Continuing its support to the Central Bank of Sri Lanka’s (CBSL) initiative to promote cashless digital payments through the LANKAQR promotional campaign, iPay, powered by LOLC, once again came forward to support the recent promotional event held on the 18th of December 2021 at the Kadolkale Ground in the city of Negombo. Mr. Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka, graced the occasion as the Chief Guest. CBSL Assistant Governor Mr. D. Kumaratunge was also amongst the distinguished guests. LOLC Finance PLC Regional Manager, Mr. Dinesh Jayakody and Head of iPay, Mr. Charitha Jayasinghe were also present.
During the event, LOLC Finance carried out a special user and merchant acquiring campaign to promote the habit of digital payments amongst the general public and to experience the convenience of iPay throughout their day to day transactions. This was implemented through three selected LOLC Finance branches in the Southern region. On the day of the event, Mr. Montini Warnakula, Chief Operating Officer of LOLC Finance PLC stated, “The main purpose of executing this awareness plus user and merchant acquiring campaign is to ensure that more and more users and merchants in this part of the country could also start experiencing the convenience of iPay. We believe that this initiative will further bolster the CBSL’s drive to promote digital payments across the nation. As the leading Non-Bank Financial Institution in Sri Lanka (NBFI), we remain committed to supporting this nationwide initiative”.
LANKAQR is a nationwide initiative of the CBSL to ensure all QR codes and QR based transactions in Sri Lanka are standardized and interoperable. LankaClear has been entrusted by CBSL to implement and operate LANKAQR. LANKAQR allows the customer to download a mobile payment application with LANKAQR to their mobile phone and make payments directly using the customer’s bank account. The payment is immediately credited to the businessman’s bank account.
iPay has been built on an architecture that allows easy integration with any system and has been designed with a host of features, giving the user a unique, one of a kind transaction experience. The vibrant and well organized graphical user interface of iPay promises a unique experience whilst carrying out payments. LOLC Finance currently operates as iPay’s merchant acquiring partner. The app includes a host of features designed to securely integrate the customer and merchant ecosystem, making it a true fin-tech platform. (end)
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