Standard Chartered connects with LankaPay

29 December 2014 04:34 am Views - 2107

Standard Chartered is the first international bank in Sri Lankan to connect with LankaPay, the island’s largest common ATM network.The bank’s customers can now enjoy ATM services at over 2,500 ATMs island wide. The LankaPay service allows customers of one bank to transact using an ATM of another member bank at a nominal fee of Rs. 30 per cash withdrawal and Rs. 7/50 per balance enquiry request. It is anticipated that this will bring greater convenience and affordability to all Standard Chartered’s customers as LankaPay connects them to ATMs across 8 leading local banks.


Sanjay Wijemanne, Head, Retail Clients, Standard Chartered, commenting on the alliance said: “We are pleased to have joined Sri Lanka’s largest common ATM network, and we hope that this innovation will ease transactions for our clients with integrated, efficient, and cost-effective ATM access.”


The network, currently comprising ATMs belonging to Standard Chartered, Bank of Ceylon, Commercial Bank, HNB, NDB, People’s Bank, Seylan Bank, Union Bank, and NTB, is designed to become the backbone infrastructure for all future electronic payments, which will facilitate seamless connectivity coupled with real time payments. The implementation of the “LankaPay” - Common ATM Service is a national development initiative which will greatly support the banking and financial services industry, allowing greater reach, service offering and convenience to customers via a common platform.


LankaClear’s General Manager and CEO, Sunimal Weerasooriya, added “We are delighted to have Standard Chartered connected on the LankaPay network. LankaClear adds significant value to the economy through the provision of innovative, efficient payment infrastructure services, focusing on connecting individuals and businesses with ever more convenient and safe ways to transact. We welcome Standard Chartered on board the ‘LankaPay’ network, and as the country’s largest common ATM service expands its reach, we look forward to offering greater convenience and financial inclusion to all sectors of the Sri Lankan community.”


Janaka Serasinghe, Chief Information Officer, Standard Chartered, further reiterated: “This is the first step in a fully integrated payments system connecting banks locally. We are excited to be part of LankaClear’s plans for a national payment network. Further enhancements are expected in 2015 which will make transactions quicker and more efficient for our customers.”