Lanka Clear receives ABA delegates in Colombo

On May 31, 2024, Mr. Dinuka Perera, Deputy Chief Executive Officer for Lanka Pay at Lanka Clear, Sri Lanka’s largest payments infrastructure provider, made a presentation on the activities and initiatives of the organization to a visiting ABA delegation. The visit was one of the many events conforming the ABA & HNB Short Term Visiting Program held in Colombo on May 30-31, 2024.

From Mr. Perera’s presentation, the Program participants learned the following:

Established in February 2002 as the National Cheque Clearing House, Lanka Clear is owned by the Central Bank of Sri Lanka (CBSL) and all CBSL-licensed commercial banks in the country. Lanka Clear is the operator of LankaPay, the country’s largest interbank payment network.

Its facilities include the following:

  • The Sri Lanka Interbank Payment System (SLIPS) is the largest account-to-account fund transfer network in Sri Lanka. Created by Lanka Clear, it enables member banks to carry out same-day transfers of up to Rupees 5 million, in a secure paperless process.
  • Launched under the brand name LankaPay in July 2013, the Common Card and Payment Switch (CCAPS) is the first phase of creating a more robust, efficient, and secure payment infrastructure for Sri Lanka.
  • The Common ATM Switch (CAS) is an interbank ATM network that allows participating banks to use each other’s ATMs for free or at a minimal charge. The system was launched in July 2013.
  • The Common Electronic Fund Transfer Switch (CEFTS) for short is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks.

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