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.
ශ්රී ලංකා මහ බැංකුව இலங்கை மத்திய வங்கி CENTRAL BANK OF SRI LANKA
ගෙවීම් සහ පියවීම් දෙපාර්තමේන්තුව | கொடுப்பனவுகள், தீர்வுகள் திணைக்களம் | Payments and Settlements Department
Ref: 34/01/025/0038/002
14 May 2020
Payment and Settlement Systems Circular No: 13 of 2020
To: All CEO’s of Licensed Commercial Banks incorporated in Sri Lanka and Licensed Operators of Mobile Phone Based e-Money Systems
Mandating Licensed Commercial Banks incorporated in Sri Lanka and Licensed Operators of Mobile Phone based E-money Systems to join LANKAQR
This Circular is issued in terms of Section 44 of the Payment and Settlement Systems Act No.28 of 2005 (Act) read with Section 4 of the Act to mandate Licensed Commercial Banks incorporated in Sri Lanka and Licensed Operators of Mobile Phone based E-money Systems to join LANKAQR.
Accordingly, all Licensed Commercial Banks incorporated in Sri Lanka and Licensed Operators of Mobile Phone based E-money Systems shall join LANKAQR as Issuers and as Merchant Acquirers and obtain certification from LankaClear (Pvt) Ltd. under all 04 (four) LANKAQR code transaction types defined in the LANKAQR Operating Guideline Version 3 / January 2020, on or before 30 September 2020.
The Payments and Settlements Department and the Bank Supervision Department of the Central Bank of Sri Lanka will, as applicable, monitor the continued progress of all Licensed Commercial Banks incorporated in Sri Lanka and Licensed Operators of Mobile Phone based E-money Systems to ensure adherence to the above deadline in joining LANKAQR.
(Signature)
D Kumaratunge Director, Payments and Settlements
CC: Director, Bank Supervision Department- Central Bank of Sri Lanka
8 වන මහල, අංක 30, ජනාධිපති මාවත, කොළඹ 1. | 8 ஆம் மாடி, இல. 30 சனாதிபதி மாவத்தை, கொழும்பு 1 | Level 8, No. 30, Janadhipathi Mawatha, Colombo 1 තැ. පෙ. 590, කොළඹ 01, ශ්රී ලංකා | த. பெ. இல. 590, கொழும்பு 01, இலங்கை | P. O. Box. 590, Colombo 01, Sri Lanka. 📞 94 11 2477642 📠 94 11 2387009 | 📧 psd@cbsl.lk | 🌐 www.cbsl.gov.lk