ComBank breaks new ground in Sri Lanka enabling Alipay QR payments for merchants

ComBank breaks new ground in Sri Lanka enabling Alipay QR payments for merchants

The Professional Financial institution of Ceylon has opened up a globe of new opportunities for Sri Lankan corporations, by becoming the initially bank in Sri Lanka to permit Alipay QR Code payments beneath unified Lanka QR.

Alipay e-wallet holders, at the moment numbering over 1 billion, can now scan the Industrial Bank LankaPay unified QR code issued to Sri Lankan retailers to make payments from any place in the planet, as a consequence of this newest advancement.

The Financial institution stated far more than 50,000 of the Bank’s merchants will be enabled to take the Alipay QR when the Lender completes the deployment of the new QR across its network, facilitating access to a extensive new buyer phase. Around 28,000 merchants who have POS devices can currently accept Alipay QR payments by means of POS equipment after enabling the provider by contacting the bank.

“This is a substantial breakthrough for Sri Lankan businesses, and we are proud to be the Lender that unlocks the potential of the Alipay portal for them,” Business Bank’s Deputy Normal Manager – Retail Banking & Internet marketing Mr Hasrath Munasinghe claimed. “This will also permit hundreds of travelers going to Sri Lanka to scan and shell out employing their Alipay e-wallets, and improves the versatility of the LankaPay system.”

As a foremost digital payment and way of living assistance platform, Alipay will help companions and a lot more than 80 million retailers in China to effortlessly provide over 1 billion Chinese individuals. The company’s proprietary engineering and 20 several years of good quality providers help cell-savvy Chinese shoppers to quickly and properly scan to shell out when making on the net and offline buys in China or travelling abroad.

Professional Lender has the difference of launching the initial QR-centered payment application on LankaPay’s LankaQR platform, a Central Lender of Sri Lanka initiative to make sure all QR codes and QR based mostly transactions in Sri Lanka are standardised and interoperable. The software, ComBank Q+, not long ago gained the Gold award for ‘Best Cellular Application for Retail Payments through LankaQR’ at the LankaPay Technnovation Awards 2024.

The major personal sector financial institution in Sri Lanka, the first Sri Lankan financial institution to be listed among the Major 1000 Financial institutions of the Environment and the country’s to start with 100% carbon neutral bank, Professional Lender operates a strategically-situated network of branches and 964 automated machines island-wide, and is the largest lender to Sri Lanka’s SME sector. Professional Bank has the widest international footprint amid Sri Lankan Banking companies, with 20 stores in Bangladesh, a Microfinance corporation in Nay Pyi Taw, Myanmar, and a totally-fledged Tier I Lender with a greater part stake in the Maldives.

Photo caption: Industrial Lender Managing Director/CEO Mr Sanath Manatunge and Alipay Business enterprise Enhancement Manager – South Asia and South East Asia Mr Mark Naglis at the launch of the Alipay QR in Sri Lanka. The Bank’s Chief Functioning Officer Mr S. Prabagar, Deputy Standard Supervisor – Retail Banking & Advertising Mr Hasrath Munasinghe, Head of Card Centre Mr Nishantha De Silva and Senior Supervisor Card Centre Mr Seevali Wickramasinghe are also in the picture

The write-up ComBank breaks new ground in Sri Lanka enabling Alipay QR payments for merchants appeared to start with on Adaderana Biz English | Sri Lanka Enterprise Information.