LankaClear (Private) Limited (LankaClear and JCB International Co., Ltd. (JCBI), have entered into a strategic partnership for the establishment of the National Card Scheme (NCS) under the direction and supervision of the Central Bank of Sri Lanka.
Under the NCS program, domestic banks and financial institutions can choose to issue LankaPay-JCB co-branded debit cards. LankaPay-JCB co-branded cards will be accepted across LankaPay payment network (ATM and POSs) locally and across JCB international network globally, especially providing a lower cost card acceptance in the Asian countries.
In addition, the strategic partnership would also facilitate the acceptance of international JCB and partner network cards at ATMs and merchants who are on LankaPay network.
JCB has entered into a strategic partnership with our neighbour, India and has commenced issuing co-brand RuPay JCB cards in India. Hence, both Sri Lankan co branded card holders touring India and Indian co-branded card holders touring Sri Lanka will be benefitted by this added convenience of using their debit and credit cards securely cross-border
Why LankaPay-JCB Co-branded Payment Card?
LankaPay-JCB co-branded payment cards will provide following benefits to card issuing institutions, in turn such benefits passed on to the respective card holders, the public:
The four-party agreement for the implementation of SLTC was signed amongst Sri Lanka Transport Board (SLTB), National Transport Commission (NTC), People’s Bank and LankaClear Ltd. at the Ministry of Transport on 22 April under the distinguished patronage of Minister of Transport Gamini Lokuge, State Minister – Vehicle Regulation, Bus Transport Services