The payment industry in Sri Lanka is currently undergoing a rapid change due to the introduction of new payment instruments, methods and processes.
Along with the traditional payment methods, these new payment processes have completely redefined the customer experience and enabled businesses and consumers to conduct their financial transactions safely and efficiently.
In this backdrop, having identified the need of a local publication on payment services to educate the public, Central Bank of Sri Lanka (CB) has released a booklet, ‘A Guide to Payment Services in Sri Lanka’ illustrating the payment instruments and methods and the infrastructures in Sri Lanka. The booklet was presented to CBSL Governor Dr. P. Nandalal Weerasinghe, by Assistant Governor of CBSL, D. Kumaratunge recently.
The booklet provides a detailed explanation on traditional and recently introduced payment instruments.
The booklet also explains the Retail Payment Infrastructure including the Common ATM Switch, Shared ATM Switch, Common Point-of-Sale Switch, Common Electronic Fund Transfer Switch (CEFTS) and popular payment products based on CEFTS including LankaPay Online Payment Platform, JustPay, Direct Debit.
The booklet is written in an easy-to-read format with FAQs and graphs including transaction flow charts helping the general public to easily understand how financial transactions can be conducted with greater convenience.
The booklet also provides detailed explanations on the technical terms used, so that supervisors, teachers and especially those in higher studies can benefit by enhancing their knowledge in the subject matter.
The electronic version of this booklet will be available for downloading from the CBSL website as an ebook and interested parties will be able to purchase the printed version from CBSL sales counters, in the future.
Source: http://www.sundayobserver.lk/2022/04/24/business/cb-launches-book-payment-services