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Sunday, 29 June 2014

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NDB launches common ATM network

The NDB recently joined the LankaPay network, a common ATM service, permitting customers to transact at a cost effective rate at over 1,700 ATMs islandwide. LankaPay permits customers of one bank to do transactions using the ATM of another member bank at a nominal fee for each cash withdrawal.


NDB and LankaClear officials exchange the agreement

The move will bring greater convenience and affordability to all NDB customers as they avail of Sri Lanka's single largest common ATM service that has already linked People's Bank, Bank of Ceylon, HNB, Seylan Bank and Union Bank to the LankaPay common ATM switch.

The 'LankaPay' network is operated by LankaClear with the approval and guidance of the Central Bank and is the first phase of the national common payment network.

It is designed to become the backbone infrastructure for all future electronic transactions, which will facilitate seamless connectivity coupled with real time payments.

NDB's Chief Executive Officer Rajendra Theagarajah said, "We are delighted to link with the LankaPay - common ATM service that will benefit our customers and customers of other member banks with integrated, efficient, secure and cost-effective ATM access. With this move, NDB customers would no longer need to visit an NDB ATM for cash withdrawals and balance inquiries.

"Clients can now access to their accounts at over 1,700 ATMs islandwide including ATMs that belong to the Bank of Ceylon, People's Bank, HNB, Seylan and Union Bank," he said.

"Seamless integration is the way forward for better convenience and added value in the banking sector," Theagarajah said.

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