Regulatory Alerts2019-02-26 | Payment and Settlement System Circular No. 1 of 2019Providing Real Time Notifications for Transactions Effected Through Electronic Payment Instruments/Mechanisms
The Central Bank of Sri Lanka issued this directive to mandate real-time notifications for transactions conducted via electronic payment instruments. The regulation requires financial institutions and payment service providers to implement systems that alert users immediately upon the execution of a transaction. This measure aims to enhance transaction security, reduce fraud, and improve transparency for consumers utilizing electronic payment mechanisms.
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