Regulatory Alerts2015-11-30 | Payment and Settlement System Circular No 7 of 2015Timelines for Joining Common Card and Payment Switch - LankaPay
The Central Bank of Sri Lanka issued Payment and Settlement Systems Circular No. 07 of 2015 to mandate Licensed Banks to integrate with the Common Card And Payment Switch (CCAPS). The directive requires banks operating ATM switches to join the Common ATM Switch by 31 March 2016, while all licensed banks must connect to the Common Electronic Fund Transfer Switch by 30 September 2016. Additionally, banks handling Point of Sale transactions must join the Common POS Switch by 31 December 2016, and those offering mobile payment services are required to join the Common Mobile Switch by 30 September 2017.
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