Cross-border payments: SL-Nepal launch digital payment connectivity

Sri Lanka and Nepal recently (12) officially launched cross-border QR payment connectivity, enabling Nepali travellers visiting Sri Lanka to make digital payments using their domestic payment applications, including mobile banking apps and connectIPS, at more than 400,000 merchants accepting LankaQR payments across Sri Lanka.

The launch was formally announced in Colombo in the presence of senior officials from the Nepal Rastra Bank, Central Bank of Sri Lanka, senior representatives from Nepal Clearing House Ltd (NCHL) and LankaPay. 

The new cross-border QR payment arrangement is expected to significantly enhance the travel experience for Nepali tourists and business visitors by providing a convenient, secure, and cashless payment option without the hassle of physical currency exchange. The interoperability between the national payment infrastructures of Nepal and Sri Lanka also opens new opportunities for merchants, particularly small- and medium-sized enterprises, by enabling access to international customers through seamless digital acceptance.

NCHL Chief Executive Officer Neelesh Man Singh Pradhan said: “This partnership with LankaPay represents a significant step towards enabling convenient, affordable, and secure cross-border QR payments for consumers and businesses between Nepal and Sri Lanka. The initiative is expected to strengthen regional payment interoperability and further promote digital economic connectivity across South Asia.”

LankaPay Chief Executive Officer Channa de Silva said: “The launch of cross-border QR payments between Sri Lanka and Nepal marks another important milestone in LankaPay’s journey to expand international payment interoperability. This collaboration will enhance the historical ties between the two countries while providing greater convenience to travellers and local businesses. This initiative will also support the broader vision of growing seamless digital payments in the region.”

Source: The morning