iPay enables cashless payments in Galle

LOLC Finance COO Montini Warnakula purchasing from an appointed iPay merchant at the venue

iPay, powered by LOLC, came forward to support the Central Bank of Sri Lanka’s (CBSL) ‘Rata Purama’ QR promotional event, which was held in Court Square, Galle recently. This was part of the Central Bank’s ‘Ratatama’ Lanka QR national campaign aimed at promoting Lanka QR as the nation’s cashless transformation mechanism towards creating a digital-savvy society and economy with greater financial inclusion. The event was graced by the CBSL Governor Deshamanya Prof. W.D. Lakshman, Guest of Honour, MP Chandima Weerakkody and CBSL Payments and Settlements Department Director Dharmasiri Kumarathunga. LOLC Finance Chief Operating Officer Montini Warnakula, LOLC Finance Regional Manager - Southern and Sabaragamuva Nalaka Mohotti, and Head of iPay Charitha Jayasingha, also graced the occasion. 

Jayasingha speaking at the occasion said: “We are delighted to see the increasing numbers of people adapting to cashless transactions through iPay, and we are truly pleased that we have been able to contribute immensely towards this national initiative. Our numbers have grown month-on-month and it is a very positive sign for us as well as for the entire nation. We have seen an increasing number of consumers as well as merchants downloading and using iPay for various types of transactions.” 

Speaking about iPay’s continuous drive to promote digital transactions throughout the country, Warnakula said: “LOLC Finance has been at the forefront of promoting Lanka QR through our island wide branch network ,and by now more than 35,000 merchants have come on board. We hope to continue our merchant acquiring efforts throughout the island, supporting the national drive aggressively through our island wide reach.” 

Lanka QR is a common QR code standard introduced together with licensed financial institutions and Lankaclear Ltd. by the CBSL, offering merchants the opportunity and convenience to use one common QR code instead of multiple platforms. Users can make payments via Lanka QR by simply scanning the code using any digital payment app connected to Lanka QR. Approximately 160,000 merchants have adopted Lanka QR since the launch of the island wide campaign last year. 

iPay has been built on an architecture that allows easy integration with any system, and has been designed with a host of features, giving the user a unique, one-of-a-kind transaction experience. The vibrant and well-organised graphical user interface of iPay promises a unique experience whilst carrying out payments. LOLC Finance currently operates as iPay’s merchant acquiring partner. 

Coinciding with the main event, LOLC Finance Galle branch executed an iPay-LANKA QR merchant acquiring and awareness program on boarding merchants