NDB joins common ATM network LankaPay

Tuesday, 24 June 2014 00:01 - - {{hitsCtrl.values.hits}}

NDB recently joined the LankaPay network Common ATM Service allowing its customers to transact at a cost effective rate at over 1,700 ATMs island wide. LankaPay Common ATM Service allows customers of one bank to transact using an ATM of another member bank at a nominal fee for each cash withdrawal. The move will bring greater convenience and affordability to all NDB customers as they avail of Sri Lanka’s single largest common ATM service that has already linked up People’s Bank, Bank Of Ceylon, HNB, Seylan Bank and Union Bank to the LankaPay Common ATM Switch. The LankaPay network is operated by LankaClear with the approval and guidance of the Central Bank of Sri Lanka, and is the first phase of the national common payment network. The network is designed to become the backbone infrastructure for all future electronic transactions, which will facilitate seamless connectivity coupled with real time payments. Commenting on the move, NDB Chief Executive Officer Rajendra Theagarajah said: “We are delighted to link up with the LankaPay Common ATM service that will significantly benefit our customers as well as the customers of other member banks with integrated, efficient, secure and cost-effective ATM access. With this move, NDB customers would no longer need to deliberately visit an NDB ATM for cash withdrawals and balance inquiries. Our clients will now have access to their accounts at over 1,700 ATMs island wide that would include ATMs that belong to Bank of Ceylon, People’s Bank, HNB, Seylan and Union Bank. With a strong belief that seamless integration is the way forward for better convenience and added value in the banking sector, we are always on the lookout for innovative technologies that improve process efficiency and connectivity. As such, we eagerly await the full implementation of the LankaPay network; which will allow NDB’s clients as well as other member bank’s clients to effect bill payments and real-time fund transfers via LankaPay ATMs in the future.” National development initiative The implementation of the LankaPay Common ATM Service is a national development initiative which will greatly support the proposed consolidation of the banking and financial services industry, allowing greater reach, service offering and convenience to customers via a common platform. In addition to driving affordable convenience to users it also offers significant savings in foreign exchange to the country by virtue of every LankaPay ATM transaction being channelled through a total domestic network. LankaClear General Manager and CEO Sunimal Weerasooriya added: “LankaClear adds significant value to the economy through the provision of innovative, efficient payment services, focusing on connecting individuals and businesses with ever more convenient and safe ways to transact. The LankaPay Common ATM Service is just the beginning of our national payment infrastructure development plan. The convergence of all banks and financial institutions under the LankaPay network will empower our public and enterprises to transact seamlessly unlike ever before, positioning Sri Lanka amongst the most advanced financial service locations in the region. We welcome NDB on board the LankaPay network, and as the country’s largest common ATM service expands its reach, we look forward to offering greater convenience and financial inclusion to all sectors of the Sri Lankan community.”