Axis Bank joins LankaPay network

Thursday, 22 March 2018 00:00 - - {{hitsCtrl.values.hits}}

From left: LankaClear Head of Certification and Integration Hemanthe Samaliarachchi, LankaClear Head of External Services Isuru Jayaweera, LankaClear DGM IT and Operations Dinuka Perera, LankaClear GM/CEO Channa de Silva, Axis Bank CEO Manoj Kumar, Axis Bank Deputy CEO K.N. Sudharshan and Axis Bank Chief Manager Operations and Treasury Back Office Amal Dissanayake

Axis Bank, India’s third largest private sector bank, has joined the LankaPay network to offer its customers hassle free banking services and payments. LankaPay Common ATM Network (CAS) and LankaPay Real-time Fund Transfer Switch (CEFTS) is a step taken to offer superior customer convenience and enhance their banking experience.

LankaPay CAS is a progressive step taken by LankaClear to enable customers of member banks to withdraw cash and check their account balance via any ATM at an affordable cost. Since 2013, LankaPay CAS has grown to become Sri Lanka’s largest common ATM network with a reach over 99.5% and has witnessed nearly 4.5 million transactions every month.

This service, which is available 24/7, 365 days, has gained popularity and has been used by more than 17 million banking customers across the country, so far. LankaPay CEFTS service enables real-time fund transfer facility of up to Rs, 5 million to various banks connected to LankaPay network.

Axis Bank Sri Lanka CEO Manoj Kumar said: “Axis Bank Sri Lanka is delighted to associate with CAS and CEFTS platforms of LankaPay that will help us facilitate superior customer service and experience. We are determined to strengthen Indo-Sri Lanka trade-related remittances in the country. Sri Lanka continues to be an important geography and market for Axis Bank and we are looking to expand our footprint in the region. We are hopeful that our customers would benefit substantially from the enhanced services on offer.”

Congratulating Axis Bank on this achievement, LankaClear General Manager/CEO Channa de Silva said: “Living in an era where speed of service is key to success, our primary resolve as Sri Lanka’s national payment network is to drive speed, convenience, security and affordability in all our offerings, thereby making banking services a hassle free affair to every individual. With this partnership, Axis Bank customers will have access to their accounts from any of the 4000 plus ATMs connected to LankaPay network, island-wide and able to make domestic interbank fund transfers in real-time. Given the customer base and the bank’s core business activities, we believe that this partnership would be of great value to all Axis Bank customers and we hope that the facility would be fully utilised by their customers to enjoy the convenience offered to them by their bank.”