Commercial Bank has part- nered with Mobitel to allow mCash merchants to accept QR code based payments from any mobile payment app registered under LANKAQR through the Bank’s state-of-the-art Q Plus QR engine. The partnership will bring supreme convenience to both merchants and customers by reducing transaction times and offering a secure, fast and effi- cient platform at their fingertips. The launch of LANKAQR with mCash has enabled existing mCash merchants ranging from small businesses to large scale enterprises to conveniently ac- cept payments of any customer who uses LankaQR, Visa QR or Masterpass supported QR pay- ment mobile Apps. LANKAQR codes issued by the mCash merchants accepts payments sent through the LankaPay, Visa, and Mastercard networks, mak- ing it one of the fully-fledged LANKAQR codes to be issued to the market. These QR Codes are fully interoperable with other payment applications certified by LankaPay. Customers can simply scan a QR code presented at a mCash merchant and make a mobile based QR payment through a preferred network. This transac- tion will be processed through ComBank’s Q Plus engine and mCash wallet, providing a fast and secure real-time remittance to the merchant within a short time of completing the transac- tion. The mCash service allows Mobitel subscribers to make payments and transfer money in a simple and convenient way. By registering for mCash, the user will be able to perform a variety of transactions, pur- chases and money transfers through a mobile device at any time and at any place. Approved by the Central Bank of Sri Lanka, mCash offers cus- tomers the experience of a whole new method of carrying out fi- nancial transactions by main- taining a Mobile Money Account In addition, the island-wide LankaQR activation is further supported by the Central Bank’s ‘Cash Wade’ an initiative that aims to increase the adoption of digital transactions in Sri Lanka by highlighting the issues related to using cash such as change money, payment tracking, cash robbery as well as queuing, thereby encouraging consumers to enjoy convenient payments through digital platforms.
