‘Rata Purama LANKAQR’ Moves to Kandy, including SDB Bank’s UPay | Sunday Observer

‘Rata Purama LANKAQR’ Moves to Kandy, including SDB Bank’s UPay

28 March, 2021

The fourth installment of CBSL’s ‘Rata Purama LANKAQR’ campaign was unveiled in Kandy recently involving the cooperation of many of the country’s top financial institutions and telcos with a lead role adopted by SDB bank.

An islandwide campaign rolled out last year to introduce LANKAQR as the standard for mobile phone and digital payments countrywide, the ‘Rata Purama LANKAQR’ initiative has in the period since advanced moving towards a cashless and digitally-savvy society plus greater financial inclusion across Sri Lanka.

Held at the Kandy City Centre, the event was graced by the Chief Guest, Hon. Keheliya Rambukwella, Minister of Mass Media, top Central Bank officials, and representatives of participating financial institutions and telcos.

The ‘Rata Purama LANKAQR’ initiative continues to be actively driven under the leadership of SDB bank CEO ThilakPiyadigama, who was appointed as the Chairman of the ‘Working Group of Financial Institutions’ by CBSL to lead the implementation of the LANKAQR project islandwide.

The Kandy-leg of the LANKAQR national campaign, drawing on the participation of numerous high-profile guests plus the island’s top banks and financial institutions, aimed to advance the program’s overall vision of promoting digital transactions as the new norm, which is closely aligned with SDB bank-owned mobile payment app UPay’s efforts in taking digital conveniences to every part of the island.

The enhanced payment functionality offered through QR-based digital payments allows for numerous benefits to both individuals and businesses. It affords customers anytime, anywhere payment capabilities as well as the ability to track their finances and spending patterns more accurately. Equally, it provides real-time transaction conveniences to merchants, creating a more vibrant economic space in towns right across the country, particularly through offering a low-cost digital payment solution to SMEs plus informal businesses as UPay has actively done under the guidance of SDB bank.

The resultant digital payment and transaction environment will allow for a greater level of transparency in commerce, an enhanced level of economic activity, and thereby benefit the country’s economy as a whole.

The Kandy-phase of the LANKAQR campaign created further public awareness on the ease, cost-effectiveness and secureness of LANKAQR digital payments for both customers and businesses, with top financial institutions such as SDB bank creating further momentum in realising the national vision of a smooth transition to a digital society.