The Common Electronic Fund Transfer Switch (CEFTS)

Overview

The Common Electronic Fund Transfer Switch (CEFTS) is an integral part of Sri Lanka’s trusted national payment network, which is operated by LankaClear (Pvt) Ltd under the approval and guidance of the Central Bank of Sri Lanka.

The CEFTS is supporting on-line real time fund transfers/payments between LankaPay-CEFTS Members to enable bank customers to initiate transactions at any given time of the day and to make payments through ATMs, mobile phones, Internet etc. even during non-banking hours.

Lanka Clear has revolutionized payment systems in Sri Lanka by launching Common Electronic Fund Transfer Switch (CEFTS) as a real time bank transfers for payments within seconds and electronic payment to be done by customers 24×7 and 365 days of the year.

LankaPay CEFTS was initiated first time in Sri Lanka to accommodate fund transfers in online Real time mode, so that the customers will benefit fund transfers rather than waiting for essential transfers. This will provide hassle free transfers to the end customer as well as the participating members of LankaPay CEFTS.

Settlement between member banks and financial institutions will be processed through Central Bank RTGS in two clearing cycles for a business day.

Statistics

CEFTS Quarterly Statistics

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