Addendum 3 - Circular No. 02 of 2019 Establishment of a National Quick Response Code Standard for Local Payments

The Director of Payments and Settlements issued Addendum 3 to Circular No. 02 of 2019 to extend the reduced Merchant Discount Rate for LANKAQR transactions. This directive mandates that the maximum MDR charge remains at 0.5% for the period from July 1, 2021, to December 31, 2021. The extension applies to all licensed banks, financial companies, and mobile e-money operators subject to the original national QR code standard.

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Ref: 34/01/025/0038/003
10 June 2021
To: Chief Executive Officers of All Licensed Banks, Licensed Financial Companies and Licensed Operators of Mobile Phone Based e-Money Systems Addendum 3 - Circular No. 02 of 2019 Establishment of a National Quick Response Code Standard for Local Payments Reference is made to Circular No. 02 of 2019 - Establishment of a National Quick Response Code Standard for Local Payments issued on 11.03.2019, its Addendum 1 issued on 30.10.2019 and Addendum 2 issued on 27.11.2020. This document shall be read together with the above Circular and Addendums. The reduction of MDR charges from 1% to 0.5% of the transaction amount, for the period beginning 01.01.2020 and ending 30.06.2021, shall be extended further for a period of six months for LANKAQR initiated transactions. Accordingly, the maximum MDR charges shall remain at 0.5% for the period beginning 01.07.2021 and ending in 31.12.2021. Yours sincerely, D Kumaratunge Director/Payments and Settlements

Source: Central Bank of Sri Lanka — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works