Just In Time implements LankaClear’s LankaPay common ATM switch
View(s):The Just In Time (JIT) Group together with LankaClear (Pvt) Ltd recently implemented the LankaPay Common ATM Switch branded as LankaPay.
Central Bank Governor Ajith Nivard Cabraal inaugurated the live system in Colombo . The Common ATM switch is a milestone in the Sri Lankan banking industry which was on the cards for the last decade and now a reality under the direction of the Central Bank and leadership of LankaClear (Pvt.) Ltd with the participation of the Bank of Ceylon and People’s Bank, the JIT group said.
As and when the commercial banks sign up to LankaPay, the common ATM Switch will enable customers of all banks to make ATM withdrawals within the Island from ATMs other than those of their servicing banks. At present the largest two public banks, Bank of Ceylon and People’s Bank are connected but according to LankaClear officials, several other financial institutions have already commenced the testing and certification process with LankaClear in order to join the LankaPay Common ATM Switch, JIT said.
At the launch the Governor requested LankaClear to work with all commercial banks in the country to integrate with LankaPay Common ATM Switch. In addition he stated that this was something that the country had not been able to achieve since banking became internationalised and electronic.
JIT, a wholly Sri Lankan owned IT company, said it was proud to be a part of a project that has a significant impact on the country’s economic strata.
Mr. Harsha Wanigatunga, Deputy General Manager – IT & Operations | Project Director stated that JIT and its principal FIS, did an excellent job in implementing the LankaPay – Common ATM Switch in accordance to the framework and requirements defined by LankaClear and their deep experience in the payments industry enabled them to implement the high standards and the complex business processes defined by LankaClear.
JIT will continue to provide on-going support and maintenance ensuring that the system functions with minimum to no technical setbacks.
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