LANKAQR nationwide rollout campaign held
The LANKAQR nationwide rollout campaign was held this morning (25) at the Central Bank headquarters in Colombo with minister Namal Rajapaksa as the chief guest.
LANKAQR is a project initiative that ensures all QR codes and QR based transactions in Sri Lanka are standardized and interoperable.
Speaking at the campaign event, Central Bank Governor Ajith Nivard Cabraal said a National Remittance Mobile Application titled “SL-Remit” will be launched soon and its launch will further attract US$ 2 Billion as remittances.
LANKAQR is a common Quick Response code standard adopted by financial institutions in Sri Lanka to facilitate fast, secure and low cost digital payments to any merchant, especially small and medium enterprises.
It enables customers to pay merchants directly from their bank accounts using a LANKAQR compliant mobile payment app.
The payment is instantly credited to the merchant’s bank account.
The LANKAQR printed sticker is provided free of charge to merchants to display at their place of business by the member institutions of LANKAQR.
To pay using LANKAQR, a customer has to scan the LANKAQR using a mobile payment app and the merchant will receive an instant SMS notification, confirming the receipt of payment.