Alipay and WeChat Pay in 1Q
Lanka Pay is on course to launch digital wallets, Alipay and WeChat Pay by the first quarter of this year, officials said.
In 2023, a memorandum of understanding was signed with Alipay, a payment app and e-wallet for technical implementation and Channa De Silva, CEO Lanka Pay told The Sunday Times Business that WeChat Pay, a payment feature that is integrated into the Chinese WeChat app, will be launched in the first quarter of this year. “The technical implementation for both these wallets is ongoing. We will sign an agreement with both digital wallet payment systems before they go live, he added.
He said that with the country expecting increased tourist arrivals from China and India this year, launching these digital payment systems will facilitate travellers and make their transactions efficient and cost-effective. “Last year Indian tourists were 400,000 and it will rise this year. We are expecting a significant increase in Chinese tourist arrivals, which was at the fifth place last year,” he added.
Last April, the Commercial Bank opened new opportunities to Sri Lankan businesses by becoming the first bank in the country to enable Alipay Key wild card payment under Unified Lanka QR.
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