Finance:LANKAQR

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Short description: QR code payment system in Sri Lanka
LANKAQR
LANKAQR LOGO.png
Product type
OwnerCentral Bank of Sri Lanka (CBSL)
CountrySri Lanka
Introduced11 March 2019; 5 years ago (2019-03-11)
Markets
  • Sri Lanka
Websitewww.cbsl.gov.lk

LANKAQR is an initiative developed by Central Bank of Sri Lanka is an integrated payment system in Sri Lanka. It launched on 11 March 2019 and is supported on Android and iOS devices.[1]

Overview

LANKAQR was launched to digitize the payment system in Sri Lanka, and is aimed at entrepreneurs and medium-sized enterprises (SMEs).

The payment system makes use of scannable QR code stickers, which are provided by LANKAQR's member organizations. The QR codes can be scanned using a proprietary app on a mobile device, which is provided by the user's financial institution.

References

  1. ↑ "Establishment of a National Quick Response Code Standard for Local Payments". https://www.cbsl.gov.lk/sites/default/files/cbslweb_documents/laws/cdg/Payment_and_settlement_systems_circular_no_02_of_2019_e.pdf. 



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