HNB signs as settlement banking partner for LOLC Finance card transactions

HNB PLC announced a landmark partnership with LOLC Finance PLC to serve as its settlement bank for the Company’s recently established card payment services.  

“HNB will act as the exclusive settlement bank for LOLC Finance. Through this milestone partnership we will be providing payment processing support for all credit and debit card transactions made by LOLC Finance cardholders. We view this partnership as a valuable opportunity to support the expansion of cashless payments and access to credit to the grassroots of the Sri Lankan economy,” HNB Executive Director and Chief Operating Officer, Dilshan Rodrigo stated.  

 “We are the very first NBFI in Sri Lanka to obtain a Payment Card - Acquiring licence from the Central Bank, MasterCard and Visa International. We are also the country’s first NBFI to obtain the Primary/Principal Licence from MasterCard worldwide and Visa International to issue Credit Cards and Acquire Payment Cards. Given that the majority of our customers are from the bottom of the pyramid, we are grateful to HNB for rapidly establishing this partnership so that we are now able to reach out to our customers and provide them greater convenience and flexibility in the management of their finances, whilst fulfilling their aspirations for a better standard of living,” LOLC Finance Director and Chief Executive Officer, Conrad Dias stated.