Lanka Clear to launch Common Payment Switch soon
Sarath De Silva
Lanka Clear (Pvt) Ltd will implement the Sri Lanka Common Payment
Switch in the near future, said chairman, Sarath De Silva.
In the first phase it would link all commercial banks through a
common switch facilitating online real time transactions. A RFP was
issued in March and the contract will be awarded shortly.
He said the company foresees the Common Payment Switch to be the
foundation for banks to innovate cost effective online payment solutions
for their customers.
Lanka Clear is also looking forward to the migration of all banks to
direct connectivity mode which would facilitate T+1 cheque clearing
throughout the island which would further enhance the efficiency of the
De Silva said that the company would coontinue to be a catalyst and
would play a lead role in introducing state of the art technology and
system to facilitate efficient payment and settlement systems for the
Lanka Clear (Pvt) Ltd, a limited liability private company was
incorporated in Sri Lanka on February 8, 2002. We commenced operations
on April 1, 2002 with a primary purpose of providing cheque clearing
facilities to commercial banks on behalf of the Central Bank of Sri
Lanka. The other services that Lanka Clear offers are US Dollar Cheque
Clearing, Sri Lanka Rupee Draft Clearing and Sri Lanka Inter Bank
Payment System (SLIPS). SG