Verified

People’s Bank adds share trading to People’s Pay app

People’s Bank has integrated the share trading facilities into its People’s Pay mobile wallet through a partnership with Lanka Securities Ltd, allowing the customers to access the banking and equity investment services through a single application.

The integration enables the users to open Central Depository System (CDS) accounts with Lanka Securities, transfer funds between their bank and CDS accounts, view investment portfolios alongside the bank balances and manage equity transactions, the bank said.

The initiative brings the stock market services into the bank’s mobile wallet, with the two institutions seeking to encourage wider participation in Sri Lanka’s capital market.

“Our partnership with People’s Bank combines our expertise to make equity investment more accessible and convenient,” Lanka Securities Managing Director Kosala Gamage said.

“By integrating banking and share trading through People’s Pay, we aim to encourage wider participation in Sri Lanka’s capital market.”

People’s Bank Chief Executive Officer and General Manager Clive Fonseka said the partnership would expand the customers’ access to investment opportunities while improving convenience.

Colombo Stock Exchange Chairman Dimuthu Abeyesekera said broader investor participation could deepen market liquidity and channel more savings into productive investment.

“This partnership demonstrates what can be achieved through collaboration between the stakeholders in capital market,” he said.

People’s Bank marked the integration by ringing the opening bell at the CSE, at an event attended by the representatives of the bank, Lanka Securities, CSE and Securities and Exchange Commission of Sri Lanka.