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.
# ශ්රී ලංකා වෙළෙන් විරුප්රාප්තිය
இலங்கை மத்திய வங்கி
CENTRAL BANK OF SRI LANKA
**Payments and Settlements Department**
30 November 2015
## Payment and Settlement Systems Circular No. 07 of 2015
**To: The Chief Executive Officers of Licensed Banks**
Dear Sir/Madam
### Timelines for Joining Common Card And Payment Switch - LankaPay
This Circular is issued in terms of the Section 44 of the Payment and Settlement Systems Act No. 28 of 2005 (Act) read with Section 4 of the Act to promote the national payment system of the country in order to provide safe, efficient and cost effective payment services to the public.
2. Licensed Banks shall join their individual switches with Common Card And Payment Switch (CCAPS) and commence relevant services by adhering to the following timelines.
2.1 Licensed Banks which function as Issuers and/or Acquirers of payment cards for ATM transactions and operate own ATM Switch shall join Common ATM Switch (CAS) by 31 March 2016.
2.2 All Licensed Banks shall join the Common Electronic Fund Transfer Switch (CEFTS) by 30 September 2016.
2.3 Licensed Banks which function as Issuers and/or Acquirers of payment cards for Point of Sale (POS) transactions shall join the Common POS Switch by 31 December 2016.
2.4 Licensed Banks which offer mobile payment services shall join the Common Mobile Switch 30 September 2017.
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**(Mrs) R A S M Dayarathna**
Director of Payments and Settlements
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**8 වැනි සැතිය, අංක 30, ජානාඩිපාති මාවතා, කොළඹ 01, ශ්රී ලංකාව**
**8 ஆம் மாடி, இல. 30, சனந்திபதி மாவட்டம், கொழும்பு 1**
**Level 8, No. 30, Janadhipathi Mawatha, Colombo 1**
**P. O. Box. 590, Colombo 01, Sri Lanka.**
**94 11 2477042/525**
**94 11 2387009**
**psd@cbsl.lk**
**www.cbsl.gov.lk**
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