Wednesday Jan 28, 2026
Wednesday Jan 28, 2026
Tuesday, 20 January 2026 04:40 - - {{hitsCtrl.values.hits}}
National Savings Bank (NSB) has successfully launched Tap & Pay contactless payment functionality on the NSBPay mobile application, becoming the first bank in Sri Lanka to introduce in-app contactless payments. This landmark initiative represents a major milestone in the country’s digital banking evolution and strongly reinforces NSB’s long-term Digital Drive, aligned with Sri Lanka’s vision for a modern, cashless, and digitally inclusive economy.
With this launch, NSBPay users can now make fast, seamless, and secure payments by simply tapping their smartphones at contactless-enabled payment terminals across the island. The solution eliminates the need for physical cards or cash, delivering greater convenience while enhancing payment efficiency for consumers and merchants alike.
The Tap & Pay feature is powered by Mastercard Digital Enablement Services (MDES), utilising advanced tokenisation technology to protect customer payment information. Tokenisation replaces sensitive card details with secure digital tokens stored on the mobile device, ensuring that actual account information is never exposed during transactions. This global-standard security framework enhances consumer confidence and supports the safe expansion of digital payments nationwide.
To successfully enable this capability, NSB collaborated with leading technology partners Entrust and Data Management System Ltd., for tokenisation services, while the Bank’s fintech partner PayMedia carried out the necessary enhancements to the NSBPay application to ensure a robust and seamless customer experience.
The introduction of in-app contactless payments holds significant importance for Sri Lanka, particularly as the country accelerates its transition toward a digital-first economy. By reducing dependence on cash, improving transaction speed, and promoting secure electronic payments, this initiative directly supports national efforts to improve financial efficiency, transparency, and inclusion. It also benefits small and medium-scale merchants by enabling faster checkout experiences and greater acceptance of digital payments.
As the country’s premier savings bank with a legacy spanning nearly two centuries, NSB plays a critical role in driving financial inclusion across all segments of society. The launch of Tap & Pay on NSBPay demonstrates the Bank’s commitment to leveraging next-generation technologies to serve customers across urban and rural communities, ensuring that the benefits of digital banking are accessible to all.
This innovation further strengthens NSB’s Digital Drive, positioning the Bank as a catalyst in shaping Sri Lanka’s digital future. Through strategic partnerships with global payment networks such as Mastercard and the adoption of advanced technologies like tokenisation, NSB continues to build a secure, trusted, and future-ready digital banking ecosystem that supports national development goals.
The Tap & Pay contactless payment functionality is now available to eligible NSBPay users, marking another significant step in NSB’s journey toward transforming everyday banking .
