Continuing its support to the Central Bank of Sri Lanka’s (CBSL) initiative to promote cashless digital payments through the RATA PURAMA LANKAQR promotional campaign, iPay, powered by LOLC, once again came forward to support the recent promotional event held at the Sanath Jayasuriya stadium in Matara. Minister of Power, Dullas Alahapperuma graced the occasion as the Chief Guest. Mr. D. Kumarathunga, Director Payments and Settlements of CBSL was also amongst the distinguished guests. Mr. Montini Warnakula, Chief Operating Officer of LOLC Finance PLC, Mr. Nalaka Mohotti, Regional Manager of Southern & Sabaragamuva of LOLC Finance and Mr. Charitha Jayasingha, Head of iPay were also present.

Speaking about the event in Matara, Mr. Montini Warnakula, Chief Operating Officer of LOLC Finance said, “For the first time in the RATA PURAMA LANKAQR island wide promotional events, LOLC Finance carried out a special three wheeler merchant on boarding execution at the event venue. This was implemented with a special on–venue mobile operational office set up to carry out the execution. We were able to sign up over 150 three-wheel owners and they were awarded the iPay merchant status along with a special fuel allowance. We hope to continue this promotional drive, so that more and more customers and merchants across the island gets to experience the convenience of iPay”.

LANKAQR is a common QR code standard introduced together with the licensed financial institutions and Lankaclear (Pvt) Ltd. by the CBSL offering merchants the opportunity and convenience to use one common QR code instead of multiple platforms. Users can make payments via LANKA QR by simply scanning the code using any digital payment app connected to LANKAQR. Approximately, 190,000 merchants have already adopted LANKAQR since the launch of the island wide campaign last year.

With an architecture that allows easy integration with any system, iPay is a simple, easy to use real-time payment platform for everyone. It has been designed with a host of features, giving the user a unique, one of a kind transaction experience. The vibrant and well-organized graphical user interface of iPay promises a unique experience whilst carrying out payments. This revolutionary payment platform is powered by LOLC, one of Sri Lanka’s leading, most diversified financial conglomerates with international presence. With LOLC Finance operating as its merchant acquiring partner, iPay is acclaimed internationally as a mobile app that has been developed on an advanced software architecture. The app includes a host of features designed to securely integrate the customer and merchant ecosystem, making it a true Fintech (Financial Technology) application.