HNB partners Keells supermarkets to disrupt digital payments with Dynamic QR

From left: CBSL Payments and Settlements Department Director Dharmasri Kumaratunge, CBSL Governor Ajith Nivard Cabraal, Digital Technology and Enterprise Development State Minister and Youth Minister Namal Rajapaksa with John Keells Holdings PLC Chairman Krishan Balendra and HNB Managing Director and CEO Jonathan Alles at the launch of the LANKAQR Janagathakaranaya campaign rolling out the Dynamic QR with leading supermarket chain Keells

Sri Lanka’s most innovative private sector bank HNB PLC partnered with leading supermarket chain Keells to enable LANKA QR payments by facilitating Dynamic QR (quick response) transactions for the merchant’s point of sales (POS) terminals, supporting the nation’s next evolution in cashless and contactless payments islandwide for tier-one merchants, as part of the Central Bank of Sri Lanka’s (CBSL) LANKAQR ‘Janagathakaranaya’ campaign.

“Dynamic QR codes are another milestone in our journey to offer customers the most secure, safe and convenient payment facilities and we are delighted to have partnered with Keells supermarkets to roll out this new technology to the public,” HNB PLC Managing Director/CEO Jonathan Alles said.

Dynamic QR codes are unique codes generated for each transaction. The new tech eliminates the need to manually enter the payment value, increasing customer convenience and avoiding errors. This allows customers using an app linked with the LANKAQR initiative to make purchases at stores by simply scanning the Dynamic QR, which appears on the display screen of the POS machine.

Most importantly, the partnership will enable all Sri Lankans, including customers of other banks, to complete transactions with Dynamic QR codes, which will appear on the display screens of PoS machines at Keells supermarkets.

“A fast and efficient supermarket checkout is something we strive for to provide an easy and enjoyable shopping experience to customers, given the proliferation of smart mobile phones as well as the accelerated adoption of digital solutions by customers. We are delighted to have partnered with HNB to introduce this technology at our stores,” John Keells Group President Retail Sector Charitha Subasinghe said.

The innovation is also beneficial to merchants since the integration of HNB’s system with the merchant’s cash POS results in real-time confirmation of the purchase and crediting the merchant’s bank account. The transaction fee that the merchants are levied for using the LANKAQR platform is significantly lower than the fee charged by international debit/credit card brands.