LankaPay Cards; LankaPay’s Debut Venture Into Card Payments
Posted 12,March

By Chehan Jayasuriya

In Local News

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LankaPay Card, introduced by LankaPay, is the company’s debut venture into card payments.

It offers unparalleled, low merchant rates of 1% to merchants across all segments. Existing card payments’ merchant rates are around 3-3.5%, while it can go upto 7-8% on occasions.

LankaPay Cards are introduced in partnership with JCB International, one of the six leading payment card and network operators in the world. Cards are issued as part of the LankaPay national card scheme, a national initiative aptly supported and regulated by the Central Bank of Sri Lanka.

Annually, Sri Lanka spends around Rs.10 billion for various types of fees charged by international payment card operators. With the introduction of LankaPay Cards, LankaClear intends to reduce this substantial outflow of foreign exchange, thus helping the country at this crucial time.