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FIS technology powers LankaPay, national payment network

The FIS technology deployed by the National Payment Network Operator - LankaClear, has been fully supported by the Just In Time Group (JIT Group), the local technology partner for FIS, and the first phase of the National Payment Network, has given birth to Sri Lanka's largest common ATM network connecting over 2,500 ATM's which accounts for over 80% of the ATMs in the country.

FIS is a Fortune 500 company and the world leader in the financial technology industry, which has been redefining secure financial technology on a global level.

JIT Group, a systems integrator has partnered with FIS in supporting the mission critical national infrastructure demands of LankaClear.

The JIT Group is a leading technology partner for a large number of banks in the country, providing sophisticated, reliable and technologically advanced ICT solutions.

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

The network has been designed to become the backbone infrastructure for all future electronic payments, which will facilitate seamless connectivity coupled with real time payments.

In addition to driving affordable convenience to users it also offers significant savings in foreign exchange to the country by virtue of every 'LankaPay' transaction being channelled through a total domestic network.

DGM, IT and Operations, LankaClear, Harsha Wanigatunga said, "We are happy to work with FIS a global leader in financial technology and the JIT Group that brings in that vital local support we need in driving this mission critical national payment infrastructure operations."

"LankaPay in its first phase has delivered considerable value to the Sri Lankan ATM user by connecting member bank ATM networks at the highest security standards, best operational excellence and affordability," he said.

"LankaPay will be a game changer in the payments industry of Sri Lanka by enabling online real-time payments and further, by local processing of POS transactions in the near future," Wanigatunga said.

The technology provider to this project, FIS, having direct offices in all continents, is a leading global provider of technology and services to the financial services industry, serving more than 14,000 clients in over 110 countries.

The JIT Group, as the local strategic partner of FIS, has been privileged to be a part of this ongoing project which is being used by a majority of the banks in the country with a large outreach of ATMs for the public, providing greater accessibility and flexibility and new facilities.

The FIS platform provides the foundation in building an integrated electronic payment system of multiple domestic payment networks, which LankaClear can use to enhance its service offerings while providing greater benefit to the clients of member banks and financial institutions.

Over the years, the JIT Group has always been at the forefront of introducing innovative technology, for the benefit of the public and the country at large".

LankaClear (Pvt) Limited, one of the country's most successful public-private partnerships, is Sri Lanka's national payment infrastructure provider.

The company is jointly owned by the Central Bank and all commercial banks in the country.

LankaClear's product offering include the Cheque Imaging And Truncation System (CITS), LankaPay - National Payment Network comprising the Common ATM Service, SLIPS Electronic Money Transfer Service and Real-Time Payments and security service offerings - LankaSign Certification Authority and Bank CSIRT (Bank Computer Security Incident Response Team).

The Just in Time Group, focuses in the areas of strategic ICT solutions, core ERP and CRM solutions, systems integration services, infrastructure solutions and strategic ICT investments, targeting the banking and financial services industry, telecommunications, government, defence and commercial vertical sectors.

 

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