NSB enables a cashless society with LankaQR | Sunday Observer

NSB enables a cashless society with LankaQR

1 November, 2020

As one of the few banks to receive accreditation for LANKA QR Transaction Types 1, 2, 3 & 4 both as acquirers and issuers from the Central Bank of Sri Lanka (CBSL), The NSB is well equipped to lend credence to QR Code banking in the industry. To this end, within a short period of a fortnight from launch NSB has on boarded upwards of 1,800 merchants indicating the popularity of QR Code banking amongst its customers.

In addition, given a branch and postal network exceeding4,000 points islands wide, NSB is in a unique position to enable even the smallest self-employed good or service provider to embrace QR Code based banking and thereby incorporating a hitherto neglected segment to traditional banking.

Reminiscent of NSB’s tradition of saving cent by cent and rupee by rupee, now NSB account holders can venture out on their own no matter how small they are and yet be afforded financial inclusion using QR Code banking offered by the leader in savings.

]Thus, with QR Code based banking, dawns a new era of banking facilities especially for the informal sector of the economy to become formalized.In keeping with NSB’s own path to complete digitalization, NSB has incorporated many innovative facilities in the banking industry such as the Common ATM Switch(CAS), Common Electronic Fund Transfer Switch(CEFTS), JustPay, Payment Exchange Name(PEN), Lanka Pay Online Payment Platform(LPOPP) and Direct Debit Authorization (DDA).