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Alipay+ joins LankaPay to facilitate cross border payments in Sri Lanka

By Gloria Mathias

October 23, 2023

  • Cross Border Payments
  • Digital Payments
  • FinTech
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LankaPay, Cross-border Payments, Digital Payments, QR Payments, Lanka QR, Sri Lanka, Payments solutions, Fintech APAC, Alipay+ has signed an MoU with Sri Lanka’s National Payment Network, LankaPay, towards enhancing the inbound and outbound travel experience through cross-border digital payments.

It enables users of Alipay+ payment partners to make payments seamlessly at LankaQR merchants across Sri Lanka. The partnership will also enable Sri Lankans to use their LankaQR-enabled apps to scan and pay at Alipay+ merchants globally when travelling overseas.

By early 2024, users of leading Asian e-wallets from the region, including Hong Kong SAR, the Philippines, Singapore, South Korea, and Thailand, will be able to use cashless payments when they travel to Sri Lanka with Alipay+, a suite of global cross-border digital payments, marketing, and digitalization solutions operated by Ant Group, by simply scanning LankaQR.

LankaQR is a project initiated by the Central Bank of Sri Lanka to ensure all QR codes and QR-based transactions in Sri Lanka are standardised and interoperable. Introduced in 2020, the LankaQR network is managed and operated by LankaPay, the operator of Sri Lanka’s National Payment Network.

Channa de Silva, Chief Executive Officer of LankaPay stated, “We are delighted to announce this important partnership with Alipay+, which is a significant milestone in our endeavour to facilitate seamless cross-border transactions in support of our vision to become a global player in digital payments. We believe this partnership will provide greater convenience to Asian tourists visiting Sri Lanka and a more acceptable proposition, especially to SME merchants with substantially lower commission rates compared to card payments.”

Additionally, all e-wallets supported by LankaPay will be accepted by the Alipay+ global merchant network by the end of 2024, enabling Sri Lankans travelling overseas to simply pay with their familiar home e-wallet. Alipay+ is currently accepted by tens of millions of merchants in more than 50 countries.

The acceptance of LankaQR by merchants big and small across the country will encourage tourists to make seamless payments at more attractions in Sri Lanka.

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