Seylan Bank customers connected to LankaPay CAS
View(s):Seylan Bank has joined the LankaPay Common ATM Switch enabling its customers to transact business at over 1,200 ATMs island-wide at low cost.
This enables customers of one bank can use an ATM of another member bank at a fee of Rs. 15 for a cash withdrawal.
The LankaPay network is operated by LankaClear with the approval and guidance of the Central Bank and is the first phase of the Common Card and Payment Switch (CCAPS), according to a LankaClear statement.
The system is designed to become the backbone infrastructure for all future electronic transactions, which will facilitate seamless connectivity coupled with online real time payments.
“Seylan Bank’s advent to LankaPay will greatly benefit its customers as it facilitates integrated, efficient, secure and cost-effective transactions. The bank’s customers no longer need to purposely visit Seylan ATMs for cash withdrawals and balance inquiries, with Bank of Ceylon, People’s Bank and Union Bank already connected to the network,” the statement said.
The full implementation of the CCAPS will allow Seylan Bank customers and other participating banks to effect bill payments and real-time fund transfers via LankaPayATMs in the future. Seylan Bank’s Senior Deputy General Manager Tissa Nanayakkara said that as a customer-centric organisation, his bank is constantly on the lookoutfor innovative technology and solutions that deliver greater value to consumers.
LankaClear’s General Manager and CEO, SunimalWeerasooriya said that, “the LankaPay – Common ATM Switch (CAS) is a cornerstone in our national payment infrastructure development plan, empowering our public and enterprises to transact seamlessly unlike ever before. The convergence of all banks and financial institutions under LankaPay will pave the way for robust synergies that will position Sri Lanka amongst the most advanced financial services markets in the region. We are happy with the steady progress on the banks coming on board the CAS now bringing the total network of ATMs over 1,200. With a couple of more banks currently going through the testing and certification process, we would be adding more ATMs to the network in the coming months”.