Sampath Bank adopts LANKAQR in which customers directly pay merchants from their bank accounts 

Sampath Bank PLC has partnered with the Central Bank (CB) to promote ‘LANKAQR,’ a common Quick Response (QR) code standard for the country, at the “Rata Puraama LANKAQR” (taking LANKAQR to the entire nation) event that was held at the CB premises recently.

Several QR payment accepting institutions including licensed commercial banks, licensed specialized banks, licensed finance companies, telecom operators and fintechs as well as representatives from the Central Bank, heads of several government departments, leaders of the retail, health and media industries and representatives from chambers of commerce were present at the event. 

“Today, technology has completely revolutionised the way we transact with each other and even in Sri Lanka the number of digital payments conducted is steadily on the rise year by year. People are increasingly realising the convenience of making transactions online as opposed to carrying cash and with safety concerns on the rise we foresee an even greater increase in digital payments. In this context, this is a timely move by the Central Bank to showcase the benefits and ease of making payments online,” said Nanda Fernando, Managing Director, Sampath Bank PLC, in a media release.

Going forward, Sampath Bank will continue to actively engage with its partner merchants through its island-wide branch network to encourage them to trial and adopt LANKAQR and thereby join the fast-growing cashless payments ecosystem.

LANKAQR is expected to facilitate speedy, safe, low-cost digital payments to any merchant, especially Small and Medium Enterprises. It enables customers to pay merchants directly from their bank accounts using a LANKAQR compliant mobile payment app with the payment being credited to the merchant’s bank account on the following working day. To pay using LANKAQR, a customer simply has to scan the LANKAQR sticker that will be on display at the merchant outlet, using a mobile payment app, and the merchant will receive an instant SMS and email notification, confirming that the transaction is complete.