Region

Jurisdiction

Regulator

2021-12-27 | Ref: 34/01/025/0038/003

Addendum 4 - Circular No. 02 of 2019 Establishment of a National Quick Response Code Standard for Local Payments

The Central Bank of Sri Lanka issued Addendum 4 to Circular No. 02 of 2019 to modify the Merchant Discount Rate (MDR) for LANKAQR transactions. The regulator mandates that the reduced MDR of 0.5%, previously set to expire on 31 December 2021, is extended indefinitely until further notice. This directive applies to all licensed banks, financial companies, and mobile e-money operators in Sri Lanka.

Sri Lanka

Central Bank of Sri Lanka

ශ්‍රී ලංකා මහ බැංකුව இலங்கை மத்திய வங்கி CENTRAL BANK OF SRI LANKA ගෙවීම් සහ පියවීම් දෙපාර්තමේන්තුව | கொடுப்பனவுகள், தீர்வகங்கள் திணைக்களம் | Payments and Settlements Department

Ref: 34/01/025/0038/003

27 December 2021

To: Chief Executive Officers of All Licensed Banks, Licensed Financial Companies and Licensed Operators of Mobile Phone Based e-Money Systems

Addendum 4 – Circular No. 02 of 2019 Establishment of a National Quick Response Code Standard for Local Payments

Reference is made to Circular No. 02 - Establishment of a National Quick Response Code Standard for Local Payments issued on 11.03.2019, its Addendum 1 issued on 30.10.2019, Addendum 2 issued on 27.11.2020 and Addendum 3 issued on 10.06.2021. This document shall be read together with the above Circular and Addendums.

The reduction of MDR from 1% to 0.5% of the transaction amount, to be expired on 31.12.2021, shall be extended until further notice for LANKAQR initiated transactions. Accordingly, the maximum MDR shall remain at 0.5% of the transaction amount.

Yours sincerely,

(Signature)

M R Wijewardena Director, Payments and Settlements