LankaPay
 | |
| Formerly | LankaClear |
|---|---|
| Industry | |
| Founded | 1 April 2002 |
Area served | Sri Lanka |
| Parent | Central Bank of Sri Lanka |
| Website | www |
LankaPay (formerly LankaClear)[1] national payment network of Sri Lanka which provides the central payment infrastructure to the country's financial sector. Established in April 1, 2002, the organization is owned by the Central Bank of Sri Lanka (CBSL) and all CBSL-licensed commercial banks in the country.
Shareholders
[edit]As at April 2025, below are the shareholders of LankaPay:[1]
| Bank | Shareholding |
|---|---|
| Central Bank of Sri Lanka | 19.59% |
| Hatton National Bank | 14.52% |
| People's Bank | 13.94% |
| Bank of Ceylon | 13.86% |
| Sampath Bank | 13.11% |
| Seylan Bank | 6.6% |
| Commercial Bank of Ceylon | 6.56% |
| HSBC Sri Lanka | 1.31% |
| NDB Bank | 0.99% |
| Standard Chartered Bank | 0.99% |
| Nations Trust Bank | 0.98% |
| Deutsche Bank | 0.98% |
| Indian Bank | 0.66% |
| Indian Overseas Bank | 0.66% |
| MCB Bank | 0.66% |
| Pan Asia Bank | 0.66% |
| Citibank | 0.66% |
| DFCC Bank | 0.66% |
| Public Bank Berhad | 0.66% |
| Bank of China | 0.33% |
| Cargills Bank | 0.33% |
| Amana Bank | 0.33% |
| State Bank of India | 0.33% |
| Habib Bank Limited | 0.33% |
| Union Bank of Colombo | 0.33% |
SLIPS
[edit]The Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka.[2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process.[3][4]
CCAPS
[edit]Launched under the brand name LankaPay in July 2013, the Common Card and Payment Switch (CCAPS) is the first phase of creating a more robust, efficient, and secure payment infrastructure for Sri Lanka. The Central Bank of Sri Lanka has since approved the CCAPS as Sri Lanka's "National Payment Switch".[5]
CCAPS can be further divided into the following areas:
- LankaPay Common ATM Switch (CAS)
- LankaPay Shared ATM Switch (SAS)
- LankaPay National Card Scheme (NCS)
- LankaPay Common Electronic Fund Transfer Switch (CEFTS)
- LankaPay Common POS Switch (CPS)
- Common Mobile Switch (CMobS)
As per the Payments and Settlements Systems Circular No. 7 of 2015 issued by the Central Bank dated 30 November 2015, all licensed banks in Sri Lanka should join the CAS, CEFTS, CPS, and CMobS networks by 31 March 2016, 30 September 2016, 31 December 2016, and 30 September 2017, respectively.[6]
Common ATM Switch
[edit]The Common ATM Switch (or CAS in short), is an interbank ATM network that allows participating banks to use each other's ATMs for free or at a minimal charge. The system was launched in July 2013 with BOC and People's Bank, with the first transaction carried out by the former governor of the Central Bank Ajith Nivard Cabraal, and deputy governor Ananda Silva. The aim of CAS is to create a single unified ATM network in Sri Lanka.[7]
As at March 2016, twelve banks have joined the LankaPay CAS network, expanding the countrywide member ATMs to over 3,000 and making LankaPay the largest ATM network in the country. Member banks include BOC, Cargills Bank, Commercial Bank, HNB, Habib Bank, National Savings Bank, Nations Trust Bank, NDB, People's Bank, Regional Development Bank, Sampath Bank, Seylan Bank, Standard Chartered Bank and Union Bank.[8]
Common Electronic Fund Transfer Switch
[edit]The Common Electronic Fund Transfer Switch (or CEFTS) for short is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks.[9]
| Internet Banking | Mobile Banking | ATM (Same Bank) | ATM (Other Banks) | Over the Counter |
|---|---|---|---|---|
| Rs.25 | Rs.25 | Rs.25 | Rs.100 | Rs.100 |
See also
[edit]References
[edit]- ^ a b "Corporate Details". LankaPay.net. Retrieved 21 April 2025.
- ^ "SL Interbank Payments: Statistics". LankaClear.com. Archived from the original on 5 February 2016. Retrieved 9 February 2016.
- ^ "SL Interbank Payments". LankaClear.com. Archived from the original on 5 February 2016. Retrieved 9 February 2016.
- ^ "LankaClear enhances service to banks". Daily FT. 17 March 2011. Archived from the original on 28 March 2017. Retrieved 9 February 2016.
- ^ "Common Card and Payment Switch". LankaClear.com. Archived from the original on 5 February 2016. Retrieved 9 February 2016.
- ^ "Payments and Settlements Systems Circular No. 7 of 2015: Timelines for Joining Common Card and Payments Switch - LankaPay" (PDF). CBSL.gov.lk. Central Bank of Sri Lanka. 30 November 2015. Archived from the original (PDF) on 29 April 2016. Retrieved 9 February 2016.
- ^ "Sri Lanka's first Common ATM Switch, 'Lanka Pay' launched". Daily Mirror. 24 July 2013. Retrieved 9 February 2016.
- ^ "Common Card and Payment Switch: LankaPay Common ATM Switch". LankaClear.com. Retrieved 9 February 2016.
- ^ "Common Electronic Fund Transfer Switch (CEFTS)". LankaPay.net. Retrieved 21 April 2025.
- ^ "Payment and Settlement Systems Circular No. 02 of 2025" (PDF). cbsl.gov.lk. 7 February 2025. Retrieved 21 April 2025.
External links
[edit]- "LankaClear: 5 years since launch of CIT System". The Island. 17 March 2011. Retrieved 9 February 2016.
- "Nine banks connect to LankaPay network". Sunday Observer. 18 January 2015. Retrieved 9 February 2016.
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