16 September 2020 01:26 pm
DirectPay, a state-of-the-art fintech solution driving financial inclusion through cashless means, announced the launch of ‘LANKAQR’ - the National Quick Response (QR) Code Standard introduced by the Central Bank of Sri Lanka to reduce cash dependence and speed the proliferation of mobile payments.
The LANKAQR island-wide campaign kicked off from Matale, titled ‘Mataleta LANKAQR’ on 12 September at the CBSL Regional Office, Matale. The Chief Guest of this inaugural ceremony was Central Bank Governor Deshamanya Prof. W.D. Lakshman and saw the participation of many officials from the partnering banks, fintech companies, financial institutions and prominent government authorities.
The interoperable network will enable merchants, individual customers, and service providers to be linked together to complete payments using the same code regardless of the service provider or scheme.
The DirectPay mobile application which facilitates LankaQR payments is available for Android and iOS-based devices. It comes in the form of two separate mobile apps; ‘DirectPay Customer App’ and ‘DirectPay Merchant App’, to cater to the specific needs of customers and retail merchants. Merchants will be able to use the QR code to present a request for payment to a consumer, who can use their mobile devices to scan, verify and approve a payment, or reject the request. Multiple payment types are supported, information can both be fixed in a static QR code and used for multiple transactions, or a dynamic QR Code can be used for individual transactions.
The initiative to strengthen the ‘Ratapuraama LANKAQR’ public awareness campaign is in line with the Central Bank’s “2020-Year of Digital Transactions”, which aims to support digital transformation projects and fulfill aspirations to create a cashless society.