Customs, BOI payments via Pan Asia Business Internet Banking

Wednesday, 6 July 2022 00:00 - - {{hitsCtrl.values.hits}}

Ground breaking initiative by PABC for corporate customers

Aligned to its strategy to extend the highest convenience and superior customer experience, Pan Asia Bank has become the first bank in Sri Lanka to integrate with the LankaPay online payment platform common interface, through which its corporate clientele can now make payments to Sri Lanka Customs and to the Board of Investment (BOI) via Pan Asia Business Internet Banking.

Customers wishing to make payments to SL customs will no longer need to go through the hassle of visiting other bank branches and obtaining pay orders. Instead, by simply logging into the Pan Asia Business Internet banking facility, they can now make their SL Customs payments at a nominal and fixed transactional fee of Rs. 50 irrespective of the value of the SL Customs payment.

The system supports SL Customs payments up to Rs. 9 billion in value via a single transaction. This innovation offers a convenient, cost-effective and efficient option for taxpayers. The same system procedure will apply to payments done to BOI for which customers can make payments up to Rs. 50 million in value a single transaction.

Facilitated via LankaPay Common Electronic Fund Transfer Switch (CEFTS), these payments will be credited real-time 24X7 x 365. The system provides its participants with the required payment confirmation details on a real-time basis.

LankaClear launched LankaPay online payment platform in 2017 under the direction of the Central Bank of Sri Lanka, with the objective of digitally empowering Government agencies by enabling large value transactions to be accepted via digital means.

Pan Asia Bank has been on digital transformation journey and this digital enhancement further strengthens its position as the truly Sri Lankan Bank that puts customer convenience at the heart of its operations.