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JCBI, Sri Lankan payments network to launch national card scheme

June 27, 2017

Sri Lanka's payments network, Lanka Clear — which is jointly owned by the nation's central bank and commercial banks — has announced a strategic partnership with JCB International for the establishment of a national card scheme issuing LankaPay-JCB.

The LankaPay-JCB cobranded cards issued by LankaClear participant institutions will be accepted globally via the JCB international network, and locally through the LankaClear network, according to a press release.

The strategic partnership also will facilitate the acceptance of international JCB cards at ATMs and merchants across Sri Lanka that accept LankaPay-JCB cobranded cards. The implementation and launch of the system is planned for the beginning of 2018, the release said.

The partners anticipate that the scheme will allow Sri Lanka to accommodate payment by travelers from India, where JCBI is expected to have a large card base in the near future.

JCBI also said that it will explore opportunities to introduce new payment technologies such as contactless and mobile payments in Sri Lanka through its partnership with LankaClear.