What LankaPay does

LankaPay (Private) Limited, formerly LankaClear, is Sri Lanka's designated national payment network, operating under the guidance of the Central Bank of Sri Lanka since its incorporation on 8 February 2002. The company provides unified interbank payment infrastructure that connects all licensed commercial banks, licensed finance companies, fintechs, and government entities through a single interoperable platform spanning real-time retail payments, cheque clearing, government collections, digital signatures, and cybersecurity services.

The platform's product portfolio includes the Common Electronic Fund Transfer Switch (CEFTS) for 24/7 real-time fund transfers up to Rs. 5 million, the Cheque Imaging and Truncation System (CITS) with T+1 nationwide clearing, LankaQR as an EMVCo-compliant national QR standard, JustPay for direct-from-account retail payments, GovPay for government collections across 280+ agencies and 4,000+ services, LankaSign as Sri Lanka's only certified Certification Service Provider for digital signatures, SLIPS for non-real-time interbank transfers, LankaRemit for inbound remittances, the Common ATM Network covering 99.5%+ of ATMs, the Common POS Switch, US Dollar online and draft clearing, and FinCSIRT cybersecurity monitoring for member institutions. CEFTS operates under PCI-DSS Version 3.2 compliance.

LankaPay monetizes primarily through interchange and per-transaction fees levied on financial institutions for processing across CEFTS, CITS, SLIPS, LankaQR, and JustPay. Pricing is quote-based and negotiated directly with member banks and fintechs rather than publicly disclosed. The go-to-market is sales-led enterprise motion, targeting banks, government bodies, fintechs, and merchants through direct institutional engagement, supplemented by international channel partnerships with Mastercard, Alipay+, NPCI International, JCB, and eMudhra to extend cross-border acceptance and digital signature interoperability. Ownership remains anchored by the Central Bank of Sri Lanka (19.59%) and Bank of Ceylon as settlement bank, with commercial banks as co-shareholders.

Name

LankaPay

Legal name

LankaPay (Private) Limited

Website

https://lankapay.net

Company type

Private

Founded year

2002

Operating status

Operating

Headcount range

51–100 employees

Short description

LankaPay is Sri Lanka's national payment network operating under Central Bank guidance, providing unified interbank payment infrastructure — including CEFTS real-time transfers, LankaQR, cheque clearing, and GovPay — to all licensed banks, fintechs, and 280+ government organizations.

Ownership category

akta.pro rank

Product category

National Payment Network Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)

SIC

Finance Services (6199)

akta.pro primary industry

Payments Operations (ACH/Wire/RTGS, SWIFT, SEPA, Checks) (FSABALAB)

akta.pro secondary industries

Cross-Border & FX Payments Platforms (BPAMAFAK), Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)

Keywords

• National payment network
• Interbank fund transfer
• Digital payment infrastructure
• QR payment standard
• Government payment platform

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Interchange and Transaction Fees: LankaPay generates revenue through transaction fees charged to financial institutions for processing payments across its various platforms including CEFTS, CITS, SLIPS, LankaQR, and JustPay. Fees are typically per-transaction or value-based.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

LankaPay operates Sri Lanka's national payment network under Central Bank of Sri Lanka guidance, providing unified payment infrastructure that connects all licensed banks, fintechs, government entities, and merchants. The company offers a multi-product ecosystem spanning real-time and non-real-time interbank fund transfers (CEFTS, SLIPS), the EMVCo-compliant LankaQR national QR standard, electronic cheque imaging and truncation (CITS), retail payments via JustPay, digital signatures through LankaSign, government collections via GovPay, cross-border remittances (LankaRemit), and financial-sector cybersecurity (FinCSIRT). Revenue is generated through interchange and transaction fees charged to financial institutions for processing payments across these proprietary platforms.

Product overview

LankaPay operates as Sri Lanka's national payment network providing a multi-product infrastructure platform comprising interconnected services. The core portfolio includes real-time fund transfers via CEFTS (up to Rs.5 Mn, 24/7), retail payments through JustPay and LankaQR, ATM network access via LankaPay CAS (99.5%+ coverage), digital signatures through LankaSign and eMudhra partnership, government payments via GovPay and LPOPP, cheque clearing with CITS imaging system, and cross-border services including LankaRemit, US Dollar payments, and international card acceptance on JCB/Mastercard networks. Additional services cover Direct Debit, Payme payment links, PEN payment aliases, Smart Wallet, FinCSIRT cybersecurity, and POS switching.

Differentiator

Problem solved

Functional benefit

Brands

• LankaQR: National QR payment standard enabling merchants and consumers to make seamless QR code-based payments
• LankaSign
• LankaRemit
• JustPay
• Payme
• GovPay
• CEFTS
• SLIPS
• FinCSIRT
• LankaPay Smart Wallet

Products and services

• Real Time Payments (CEFTS) Common Electronic Fund Transfer Switch enabling real-time fund transfers up to Rs. 5 million, 24/7/365, for licensed banks and their retail and corporate customers across Sri Lanka. PCI-DSS Version 3.2 compliant.
• JustPay Retail payment solution enabling consumers and merchants to transact directly from bank accounts via mobile or web applications without requiring a card, supporting P2P, C2B, and B2C use cases.
• LANKAQR National QR payment standard, EMVCo-compliant, enabling merchants and consumers to transact via QR codes across mobile apps and POS terminals with a network exceeding 400,000 acceptance points.
• LankaPay CAS (Common ATM Network) Common ATM Network connecting 99.5%+ of Sri Lanka's ATMs, enabling cardholders to withdraw cash and access ATM services at any participating bank through a single interoperable switch.
• LankaSign Sri Lanka's only certified Certification Service Provider for digital signatures, enabling legally valid electronic document signing for financial institutions, government bodies, and legal practitioners.
• Government Digital Payment Platform (GovPay) Digital payment platform linking citizens to over 280 government organizations for real-time payment of traffic fines, utility bills, taxes, and government dues, processing over Rs. 2.7 billion across 133,000+ transactions in its first year.
• Sri Lanka Inter-bank Payment System (SLIPS) Non-real-time interbank fund transfer system for amounts up to Rs. 5 million with value-dated and future-dated scheduling capability up to 14 days.
• Cheque Clearing (CITS) Cheque Imaging and Truncation System replacing physical cheque processing with electronic image-based clearing and a T+1 settlement cycle across Sri Lanka.
• Direct Debit Automated recurring payment service enabling subscription-based and recurring merchant collections directly from customer bank accounts.
• LankaPay Smart Wallet Digital wallet solution enabling financial institutions to offer branded mobile banking services to their customers via the LankaPay Smart Wallet platform.
• LankaRemit Inbound international remittance service connecting Sri Lanka with global money transfer networks, enabling overseas Sri Lankans to send money home.
• National Card / LankaPay Card National payment card with JCB acceptance globally and dual-logo EMV chip technology, enabling domestic and international card acceptance through LankaPay's partnership with JCB International.
• Payme Pay-by-link solution enabling businesses and individuals to request and collect payments across P2P, B2C, C2B, and B2B use cases via shareable payment links.
• Payment Exchange Name (PEN) Payment alias service enabling fund transfers using memorable names instead of bank account numbers, simplifying person-to-person and merchant payments.
• LankaPay Government Payment Platform (LPOPP) Online payment gateway for government bill payments and collections, enabling digital payments for government services via web and mobile channels.
• Common POS Switch (CPS) Common POS Switch connecting all POS terminals to a single network for unified card acceptance, simplifying merchant acquiring and payment processing across banks.
• FinCSIRT Financial Sector Computer Security Incident Response Team providing cybersecurity monitoring, threat intelligence, and incident response services for member financial institutions in Sri Lanka.
• US Dollar Draft Payments USD draft clearing system processing USD-denominated instruments domestically, reducing processing time from weeks to days for interbank USD draft settlements.
• US Dollar Online Payments Online USD payment system enabling interbank USD transfers without NOSTRO account intermediaries, launched in 2015 to replace Nostro-based USD settlement between local bank accounts.

Quantifiable outcome

• Over Rs. 2.7 billion in government digital payments processed in GovPay's first year with 133,000+ transactions across 3,783 services
• +2 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability1 record

Feature10 records

Partnerships

Nine partnerships are on record, tiered core and strategic.

• eMudhra LimitedcoreTechnology or Integration · 22 May 2026LankaPay partnered with eMudhra Limited to launch eMudhra e-Sign Remote Signature with LankaSign, enabling legally trusted digital signatures across Sri Lanka's financial and public sector ecosystems. The solution combines eMudhra's PKI-based trust technology with LankaSign's local certification infrastructure. Commercial Bank of Ceylon became the first bank onboarded to this facility.
• MastercardcoreTechnology or IntegrationStrategic partnership with Mastercard to accelerate digital payments in Sri Lanka through co-branded debit cards, QR payment solution integrated with LankaPay's app, and AI-powered fraud detection using Mastercard's Brighterion technology. Enables 400,000+ LankaQR merchants to accept real-time payments from inbound tourists using home currency-linked cards.
• Alipay+ (Ant International)coreTechnology or IntegrationPartnership to integrate LankaQR national payment infrastructure with Alipay+, enabling travelers from China, India, Singapore, Malaysia, Thailand, and South Korea to make seamless mobile payments at hotels, restaurants, and retail outlets, granting access to over 1.8 billion mobile wallet users across Asia-Pacific.
• NPCI International Payments Limited (NIPL)coreTechnology or IntegrationPartnership to expand UPI merchant acceptance across Sri Lanka, enabling Indian tourists to make digital payments by scanning LankaQR with UPI-enabled mobile applications. Indian arrivals to Sri Lanka grew from 416,000 in 2024 to 531,000 in 2025.
• BPCstrategicGTM or Marketing PartnerBPC, a global payment solutions provider, came on board as Strategic Partner for LankaPay Technnovation Awards 2026, strengthening collaboration to recognize payment technology innovators.
• UnionPay InternationalstrategicGTM or Marketing PartnerUnionPay International continued as Platinum Sponsor of LankaPay Technnovation Awards 2026, supporting Sri Lanka's digital payment ecosystem development.
• Bar Association of Sri Lanka (BASL)strategicStrategic or Co-development PartnerLankaPay partnered with BASL as Corporate Partner to promote digital signatures (LankaSign) among legal practitioners, advancing secure, efficient, and modern legal processes as part of Sri Lanka's digital transformation.
• Ministry of Digital Economy and ICTA (GovTech)coreStrategic or Co-development PartnerGovPay government digital payment platform is a collaborative initiative of the Ministry of Digital Economy, ICTA (GovTech), and LankaPay, enabling real-time payments for over 4,000 public services across 280+ government organizations.
• Central Bank of Sri LankacoreStrategic or Co-development PartnerLankaPay operates under Central Bank of Sri Lanka guidance as the national payment network, with the Bank of Ceylon holding a significant stake and serving as the settlement bank.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• UnionPay International: China-origin global card network with growing Asia-Pacific reach. Already a LankaPay partner, but as a broad card network incumbent that competes for cross-border tourist payment volume.
• Visa: Global card and payment network competing with LankaPay's national card scheme and providing cross-border rails. Broad incumbent that overlaps in card and cross-border, but does not operate as a domestic interbank switch.
• Mastercard: Global card network with deep cooperation with LankaPay (co-branded cards, Brighterion fraud, QR acceptance). Overlaps in card, QR, and cross-border payments, but as a global incumbent rather than a national infrastructure operator.

Direct peers

• PesaLink: Kenya's national interbank payment switch operated under central-bank oversight, providing a comparable emerging-market model of a designated retail real-time payment network.
• PromptPay (Bank of Thailand): Thailand's national real-time payment and QR rail operated under Bank of Thailand stewardship. Closely mirrors LankaPay's CEFTS/LankaQR combination as a Central-Bank-governed real-time retail payment network.
• BancNet: The Philippines' national ATM and electronic payment switch connecting virtually all domestic banks, with bank consortium ownership analogous to LankaPay's structure.
• National Payments Corporation of India (NPCI): Operates India's national payment rails (UPI, IMPS, AePS, RuPay), the closest analog to LankaPay's role as a designated national switch. Comparable in mandate, ownership structure, and product breadth across real-time, card, and cheque.
• NETS (Network for Electronic Transfers, Singapore): Singapore's domestic payment switch operating EFTPOS, QR, and card rails with bank consortium ownership. Comparable as a small, mature national payment network with a multi-product, multi-bank model.
• PayNet (Malaysia): Malaysia's national payment network operator running interbank GIRO, FPX, DuitNow QR, and real-time rails under Bank Negara Malaysia oversight. Directly comparable in mandate and infrastructure scope.

Others

• SWIFT: Global interbank messaging and payment infrastructure that LankaPay's USD clearing and cross-border rails interact with. Adjacent infrastructure provider rather than a direct competitor, but a relevant benchmark for interbank payment utility economics.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/_LankaPay_
• Facebookfacebook.com/lankapay
• LinkedInlinkedin.com/company/lankaclear---pvt-ltd
• Instagraminstagram.com/lankapay

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about LankaPay