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ComBank and PAYable launch Smart POS-Mini device to promote cashless ...
News The Commercial Bank of Ceylon together with PAYable (Pvt) Ltd. recently announced the launch of an Android Mini Point-of-Sale (POS) device to enable merchants anywhere in Sri Lanka to accept card payments. The Smart POS-Mini is a fully functional Android terminal, able to process transactions via Mag-stripe, EMV and Chip readers. The device is also capable of processing Near Field Communication (NFC) transactions and can scan QR codes at a high speed. The sleek and convenient device also boasts both SIM and Wi-Fi connectivity and supports a tri-lingual user interface, the bank said in a media release. Speaking on the solution, Commercial Bank’s Head of Card Centre Thusitha Suraweera, explained: “The Android Mini POS Device offered by Commercial Bank will be rolling out across Sri Lanka over the next few weeks. Strategically positioned to cater to the micro SME industry, these devices are set to revolutionise the face of cashless transactions offering a cost-effective solution to merchants looking to accept cashless transactions. Commercial Bank is pleased to be able to offer these devices and services to our merchants and hope the ability to access the cashless ecosystem will help to grow their businesses.” The PAYable solution simplifies transactions, making it possible for a transaction to be completed in just three steps. The solution also includes a tri-lingual user interface that adds to its versatility, boasts an automatic settlement feature, eliminating the need for cumbersome manual reconciliation, provides the facility to operate installment payments, and is capable of multi-currency transactions. Commenting on the PAYable solution and the partnership with Commercial Bank, Yohan Wijesiriwardane, CEO/Co-founder PAYable Pvt Ltd. said: “The Smart POS Mini represents the next iteration of cashless payment acceptance for MSMEs. The device is ideal for this segment as it offers versatility and a diverse range of functions that are designed to empower businesses to take their revenue streams to the next level.” The Smart POS-Mini has a 4.5 inch touch-enabled screen, up to 64GB of storage and supports high-speed swipe algorithm enabling wallet transactions to be completed with ease. The device is able to process transactions via VISA and Mastercard as well as a host of wallet facilities and is Payment Card Industry Data Security Standard (PCIDSS) compliant, as it offers end-to-end security, ensuring cardholder information remains 100 per cent s...
LankaQR Payment Programme for Small Businesses | JSOFT
On April 6, 2026, President Anura Kumara Dissanayake officially launched the National QR Payment Promotion Programme at the Presidential Secretariat – marking a significant milestone in Sri Lanka’s journey toward a cashless economy. The headline change: zero merchant fees on all LankaQR transactions up to Rs. 5,000, effective immediately. For small businesses – restaurants, salons, car washes, distributors, and cloud kitchens – this is one of the most significant payments policy changes in years. But what does it actually mean in practice? This article explains everything you need to know about the programme, what has changed, and what steps your business should take next. What Is the National QR Payment Promotion Programme? The National QR Payment Promotion Programme is a government-led initiative implemented under the Central Bank of Sri Lanka (CBSL), Ministry of Digital Economy, GovTech institution, and LankaPay – with support from all major financial institutions. The programme is built on four key pillars: Removing barriers to transactions – including eliminating merchant fees on payments up to Rs. 5,000 Encouraging public adoption through incentives, prize draws, and consumer benefits Introducing new technologies, including person-to-person (P2P) QR transfers Conducting nationwide awareness campaigns in Sinhala, Tamil, and English Central Bank Governor highlighted two critical changes at the launch: free transactions under Rs. 5,000, and the introduction of person-to-person (P2P) QR transfers – allowing customers to send money directly between individuals without visiting a merchant. As the Governor noted, this is the same feature that drove mass adoption in India through UPI. 450,000 Merchant locations accepting LankaQR20+ Financial institutions supporting LankaQRRs. 0 Merchant fee on transactions up to Rs. 5,00089% Adult Sri Lankans with bank access What Has Actually Changed – The Key Facts 1. Zero Merchant Fees on Transactions Up to Rs. 5,000 Previously, merchants were charged a Merchant Discount Rate (MDR) of up to 1% on every LankaQR transaction. This discouraged small vendors from accepting QR payments. From April 6, 2026, this fee has been completely removed for all transactions up to Rs. 5,000. The Sri Lanka Banks’ Association and LankaPay have agreed to absorb the cost – meaning the saving goes directly to you, the merchant. For a restaurant or salon processing 50 transactions of Rs. 2,000 each per day, this previously cost up t...
Visa and Commercial Bank are pioneering the next evolution in digital ...
The initial availability will focus on select card ranges as part of a phased rollout. Commercial Bank of Ceylon is Sri Lanka's largest private sector bank and a leader in digital innovation, having been recognized as the 'Best Mobile Banking App' in Sri Lanka by Global Finance.
Seylan Bank shines at LankaPay Technnovation Awards 2026 with ...
Seylan Bank celebrated a significant triumph at the LankaPay Technnovation Awards 2026, the 8th edition of Sri Lanka's premier digital payment awards, clinching multiple accolades as pioneers of digital payments ecosystem service provider.
