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LankaClear Launch LankaPay/JCB Co-badged Cards in Sri Lanka

Colombo / Tokyo, Oct 9, 2019 - (ACN Newswire) - LankaClear (Private) Limited (LankaClear) - the operator of LankaPay, Sri Lanka's National Payment Network, together with JCB International Co., Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., announced the commercial roll-out of National Card Scheme (NCS) programme of Sri Lanka, after successfully completing the pilot stage since the announcement of the strategic partnership in June 2017. With the commercial roll-out of NCS programme, LankaPay/JCB co-badged payment cards are now accepted at ATMs and merchants on JCB network, globally. This partnership has also enabled JCB cardholders worldwide to use their cards at ATMs and POS terminals within Sri Lanka.

Under the NCS programme, MCB Bank, Regional Development Bank, HDFC Bank of Sri Lanka, Siyapatha Finance, Sampath Bank and many more banks will issue EMV enabled LankaPay/JCB co-badged cards. This marks the first ever JCB branded card issued in Sri Lanka.

In the commercial roll-out announcement held during the LankaPay Technovation Awards 2019, Mr. Channa de Silva, General Manager/CEO, LankaClear, said, "This partnership between LankaClear and JCBI is intended to help Sri Lanka to have its own National Card Scheme (NCS) adhering to the highest international standards. LankaPay/JCB cards will follow the same EMVCo standards in terms of technology and security. This would result in lower transaction costs for both banks and merchants in Sri Lanka when facilitating payments via NCS cards issued by the banks. Sri Lankan cardholders could also benefit from the payment experience at JCB merchants outside Sri Lanka, as well as entitle to various international services and promotions offered by JCBI."

Mr. Kimihisa Imada, President and COO, JCB International Co., Ltd. said, "We are very pleased and honoured to have the very first JCB cards in Sri Lanka collaborated with the national payment network, LankaPay. As Sri Lanka is one of the most attractive tourist destination countries in the world, especially for the travellers from other JCB card issued countries such as India, JCB appreciates LankaClear and LankaPay member banks for the strongest and continuous effort so far and ongoing to enable JCB acceptance at local ATMs and merchants. JCB keeps supporting LankaPay network with our payment technology for secure transactions locally and globally, and with our unique international brand services to enrich the customer experience of LankaPay/JCB Card members. We also look forward to seeing further achievement in the card product development area in the near future".

About LankaClear

Incorporated in February 2002 as the "National Cheque Clearing House", today, LankaClear has expanded its service offering to be the "National Payment Network" for the country. Owned by the Central Bank of Sri Lanka (CBSL) and all Licensed Commercial Banks operating in Sri Lanka, the company boasts of multiple solution offerings not only for the banking sector but also across all industries that are ready and willing to adopt/integrate to the latest digital technologies driving Sri Lanka toward an efficient, green, and paperless nation.

In an era where electronic payment modes are gaining popularity worldwide, we at LankaClear have set the foundation and platforms in moving Sri Lanka to a cashless society with paperless offices. As the catalyst of change in the Sri Lankan Payment Industry, the company has continuously strived to maintain the highest standards of efficiency and security in catering to this emerging market needs. The LankaSign Certification Service Provider (CSP) implemented by LankaClear provides the much needed security for the electronic payment systems and is currently the only commercially operated CSP in the country.

LankaClear has introduced many ground breaking products, some of which have been first in the South Asian Region. Our committed and dynamic team of professionals, with global exposure brings in the expertise in driving the technology footprint and the service delivery at LankaClear. For more information, visit: http://www.lankaclear.com/

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