Regulatory Alerts2020-05-14 | Payment and Settlement System Circular No. 13 of 2020Mandating Licensed Commercial Banks and Mobile E-money Operators to Join LANKAQR
The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 13 of 2020 to mandate all licensed commercial banks and mobile phone-based e-money operators in Sri Lanka to join the LANKAQR payment system. These entities are required to register as both Issuers and Merchant Acquirers and obtain certification from LankaClear (Pvt) Ltd for all four defined LANKAQR code transaction types. Compliance must be achieved on or before 30 September 2020, with adherence monitored by the Central Bank's Payments and Settlements and Bank Supervision Departments.
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