Sri Lanka, Nepal launch cross-border payment scheme
View(s):Sri Lanka and Nepal this week launched cross-border QR payment connectivity, enabling Nepali travellers visiting Sri Lanka to make seamless digital payments using their domestic payment applications, including mobile banking apps and connect IPS, at more than 400,000 merchants accepting LankaQR payments across Sri Lanka.
The launch was formally announced at a special event held in Colombo in the presence of senior officials from the Nepal Rastra Bank, Central Bank of Sri Lanka, senior representatives from Nepal Clearing House Ltd (NCHL) and LankaPay. The initiative marks a major advancement in regional financial integration and digital payment connectivity between South Asian nations, further strengthening secure, real-time, and interoperable payment ecosystems, LankaPay said in a media release.
Nepal and Sri Lanka share longstanding historical, cultural, and religious ties, supported by growing tourism and business exchanges between the two countries. The new cross-border QR payment arrangement is expected to significantly enhance the travel experience for Nepali tourists and business visitors by providing a convenient, secure, and cashless payment option without the hassle of physical currency exchange.
Under this arrangement, Nepali users can make real-time payments in Sri Lanka by simply scanning LankaQR codes using participating payment applications from Nepal. Transactions are processed through regulated and secure payment infrastructure, ensuring convenience, safety, and efficiency for users and merchants alike.
Neelesh Man Singh Pradhan, CEO of NCHL, said “This partnership with LankaPay represents a significant step towards enabling convenient, affordable, and secure cross-border QR payments for consumers and businesses between Nepal and Sri Lanka. The initiative is expected to strengthen regional payment interoperability and further promote digital economic connectivity across South Asia.”
Channa de Silva, CEO of LankaPay, added: “The launch of cross-border QR payments between Sri Lanka and Nepal marks another important milestone in LankaPay’s journey to expand international payment interoperability. This initiative will also support the broader vision of growing seamless digital payments in the region.”
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