The LANKAQR nationwide rollout campaign was launched by the Central Bank of Sri Lanka today under the auspices of the State Minister of Digital Technology Namal Rajapaksa.
“Lanka QR ජනගතකරණය”, is a QR based payment solution by the Central Bank to be deployed for revolutionizing the Digital transaction landscape in Sri Lanka.
LANKAQR is a common Quick Response (QR) code standard adopted by financial institutions in Sri Lanka to facilitate fast, secure, and low-cost digital payments to any merchant, especially small and medium enterprises.
Customers can pay merchants directly from their bank accounts by using the LANKAQR compliant mobile payment app, while the payment is instantly credited to the merchant’s bank account.
A customer has to scan the LANKAQR using a mobile payment app to pay and the merchant will receive an instant SMS notification, confirming the receipt of payment. There is no cost to the customer in using LANKAQR based payments.
The Central Bank is of the view that enabling monetary transactions through LANKAQR will play a key role in driving a cashless economy. (NewsWire)