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‘LANKAPAY’ ENHANCES DIGITAL TRANSACTION REACH CONNECTING CENTRAL FINANCE TO THE NATIONAL ELECTRONIC FUND TRANSFER NETWORK

Colombo, Friday 29th August 2014: Sri Lanka’s leading financial solutions service provider, Central Finance Company PLC (CF), joins the Sri Lanka Interbank Payment System (SLIPS) operated by LankaClear (Pvt) Ltd enabling its customers to enjoy greater service and convenience on electronic payments.   

With the advent of CF on to the ‘LankaPay’ SLIPS electronic fund transfer network, its customers can now enjoy same day fund transfers up to the value of Rs. 5 million per transaction. Providing access to every personal and corporate account in the country, the ‘LankaPay’ SLIPS network will empower CF with the ability to offer a host of other new payment related services that could be tailor-made to best suit customer needs.

‘LankaPay’ SLIPS network connects over 3,000 branch locations of all member institutions scattered island wide and envisages moving into real-time fund transfers in the near future. The banking and financial sector has gained significant advantage through the network and, corporates and individuals alike have used the derived services to add value to their business  and enhance the ease of transacting.

“Central Finance stands for the highest levels of integrity, flexibility and innovation – which are reflected in our strength and reach to our customers and business partners. Participating in the LankaPay SLIPS  network enables us to penetrate beyond the retail customer segment and move into business-to-business (B2B) value chains. ‘LankaPay’ SLIPS network gives  us the platform to offer next-generation services to our customers, whilst gaining better reach, enhanced security and efficiency. CF is proud to become a part of the ‘LankaPay’ national payment network. We see the digital payment systems it proffers as another step towards a fully integrated, inclusive financial system” avers Eranjith Wijenaike, Managing Director of Central Finance.

“LankaPay is changing the way Sri Lanka does business, and we are proud to say that this partnership will not only empower the urban community, but also have reach to all parts and segments of the country for financial inclusion. Affordability, speed and secure access are essentials in getting consumers to embrace the payment technology we infuse into the economy, and these are the essential key values we have built into SLIPS and all other payment innovations proffered by LankaClear. The future holds much promise,” remarks Sunimal Weerasooriya, Chief Executive Officer and General Manager of LankaClear.

Central Finance Co Plc

Central Finance is a finance company licensed under the Finance Business Act, No. 42 of 2011. CF was incorporated in December 1957 as a private limited liability company based in Kandy. The company was converted to a public company with a quotation from the Colombo Brokers Association. It was the first company outside Colombo to obtain such a listing. CF provides a wide range of financial services including Leasing, Hire purchase, Vehicle hire, Deposits, Savings etc. through its 85+ Island wide branch network. The company is rated A+ by Fitch Ratings Lanka Limited.

About LankaClear

LankaClear (Pvt) Limited, one of the country’s most successful public-private partnerships, is Sri Lanka’s national payment infrastructure provider. The company is jointly owned by the Central Bank of Sri Lanka and all Commercial Banks in the country. LankaClear’s product offering include the Cheque Imaging And Truncation System (CITS), “LankaPay” - Common Payment Network, Common ATM Service / SLIPS Electronic Money Transfer Service,  LankaSign Certification Authority  and Bank CSIRT (Bank Computer Security Incident Response Team ) among several other critical payment system infrastructure offerings. 
 



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