People’s Bank, UnionPay International to introduce national payment cards

Wednesday, 10 December 2025 02:23 - - {{hitsCtrl.values.hits}}

People’s Bank Chairman Prof. Narada Fernando (left) with UnionPay China Chairman Dong Junfeng at the signing of the MoU. People’s Bank CEO/General Manager Clive Fonseka (left) is also present

Sign MoU to introduce co-branded payment cards
Agreement also includes the expansion of UnionPay acceptance across People’s Bank’s merchant network

People’s Bank said it has entered into a major strategic partnership with UnionPay International (UPI), one of the fastest-growing global payment networks to introduce co-branded payment cards in Sri Lanka.

The MoU was signed in Colombo in the presence of UnionPay China Chairman Dong Junfeng and People’s Bank Chairman Prof. Narada Fernando, along with senior leadership from both institutions.

The bank said that collaboration is closely aligned with the Government of Sri Lanka’s efforts to accelerate digital adoption and build a strong and inclusive digital economy.

Under this partnership, People’s Bank will issue UnionPay Cards, including the People’s Bank–LankaPay–UnionPay co-branded National Card, offering customers secure, convenient, and affordable payment solutions.

The agreement also includes the expansion of UnionPay acceptance across People’s Bank’s extensive merchant network, covering both government and private sectors, from MSMEs to large corporates, further strengthening the country’s move toward a robust cashless ecosystem.

With its widespread branch network and large customer base, People’s Bank, together with UnionPay International, aims to advance financial inclusion by delivering innovative, low-cost digital payment solutions tailored to the Sri Lankan market.