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NPCI International strengthens UPI Merchant Acceptance in Sri Lanka

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Ritesh Shukla

For merchants:UPI provides access to a large, digitally savvy customer base, improves cash management, reduces dependence on physical currency and enhances operational efficiency

For travellers:UPI offers the convenience of real-time payments, transparent exchange rates, and a familiar, secure payment experience

NPCI International Payments Limited (NIPL), the international arm of the National Payments Corporation of India (NPCI), has reaffirmed its commitment to expanding Unified Payments Interface (UPI) merchant acceptance in Sri Lanka. The initiative aims to enhance cross-border payment experiences for Indian tourists, support Sri Lanka’s growing digital economy, and further strengthen the deep economic and cultural ties between India and Sri Lanka.

UPI, India’s real-time, account-to-account payment system, enables instant and secure transactions through mobile applications. Processing over 20 billion financial transactions monthly, it has emerged as one of the world’s most advanced digital payment infrastructures. With over 700 million UPI QR- touch points across India, its open, interoperable architecture and strong security framework allows it to integrate seamlessly with international payment ecosystems, including Sri Lanka’s LankaQR infrastructure.

India has consistently remained Sri Lanka’s leading source for tourism. Over 4,16,000 Indian tourists visited the island in 2024, and this number grew to 5,31,000 in 2025, accounting for the highest share of total international arrivals. With this year-on-year growth, the need for seamless and reliable payment solutions has become even more crucial. Indian visitors travel to Sri Lanka for leisure, weddings, shopping, and spiritual tourism, highlighting the importance of smooth, secure, and convenient payment options throughout their journey.

Through the collaboration between NPCI International and LankaPay, Indian tourists can make digital payments across Sri Lanka by simply scanning LankaQR using their preferred UPI-enabled mobile applications, minimising the need to carry or exchange physical cash. UPI payments are now enabled at leading establishments including Cinnamon Hotels, Taj Hotels, Barista, Keells Supermarket and Odel, amongst others.To support this growing corridor, NIPL has been actively engaging with key stakeholders in Sri Lanka, including the Central Bank of Sri Lanka, acquiring banks, and key merchants, to scale UPI acceptance in line with Sri Lanka’s domestic payment framework.

This integration has significant advantages for both merchants and customers. For travellers, UPI offers the convenience of real-time payments directly from their Indian bank accounts, transparent exchange rates, and a familiar, secure payment experience. For Sri Lankan merchants, it provides access to a large, digitally savvy customer base, improved cash management, and reduced reliance on physical currency, driving greater operational efficiency.

Ritesh Shukla, MD & CEO, NPCI International, said, “NPCI International is committed to building trusted, interoperable payment corridors that bring countries closer through technology. Our engagement in Sri Lanka reflects a shared vision to enhance digital payment acceptance, simplify travel and commerce for millions of people, and create value for local businesses and the wider economy. Through our partnership with LankaPay, we are advancing seamless, secure, and real-time transactions that strengthens the economic partnership between India and Sri Lanka.”

As UPI adoption progresses, NIPL will continue working closely with Sri Lankan regulators, ecosystem players, and merchants to extend acceptance across high-frequency sectors such as hospitality, retail, tourism, and essential services. Recognized by the IMF as the world’s largest real-time payment system, powering 49% of global instant payments, UPI presents a significant opportunity for Sri Lankan merchant to elevate the travel experience for Indian visitors, boosting economic activity and enhancing cross-border commerce between the two nations.



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DIMO KNIGHTS 2026 Reinforces a Culture of Recognition and Growth

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DIMO celebrated DIMO KNIGHTS 2026, recognizing employees whose exceptional dedication, leadership, innovation, and commitment continue to shape the organization’s success. More than an employee recognition event, DIMO KNIGHTS reflects DIMO’s unwavering commitment to cultivating a workplace where people are empowered to thrive, reinforcing the Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing its Corporate Purpose of Fuelling Dreams and Aspirations to life.

Held under the theme “Illuminating Leadership, Inspiring Achievement,” the event celebrated individuals who exemplify DIMO’s values and inspire excellence across the organization. By recognizing those who consistently go above and beyond, DIMO continues to foster a high-performance culture where people are empowered to innovate, lead, and create meaningful impact.

A highlight of the evening was the keynote address delivered by Mr. Ravi Kant, former Managing Director and Vice Chairman of Tata Motors India, who shared valuable insights on leadership, organizational transformation, and building resilient organizations capable of sustaining long-term success.

Commenting on the event, Ms. Dilrukshi Kurukulasuriya, Executive Director / Chief Human Resources Officer of DIMO, said: “Our Tribe is the driving force behind DIMO’s continued success. DIMO KNIGHTS is more than a celebration of outstanding performance; it is a reflection of the culture we strive to build every day. By recognizing and empowering our people, we reinforce our Employee Value Proposition of ‘Making Work Enjoyable and Rewarding’ while bringing our Corporate Purpose to life. When our people grow, innovate, and thrive, they create lasting value for our customers, partners, and the communities we serve.”

DIMO KNIGHTS reinforces the organization’s people-first philosophy by fostering a culture of appreciation, continuous learning, and purposeful leadership. The programme reflects DIMO’s conviction that when employees are empowered, recognized, and inspired to excel, they shape the future of the organization through innovation, collaboration, and sustained excellence, strengthening a high-performing culture that delivers lasting value, drives sustainable business success, and reinforces DIMO’s position as an employer of choice.

The evening recognized employees across a wide range of categories, celebrating outstanding performance, innovation, collaboration, customer focus, and leadership. The ceremony culminated with the presentation of the prestigious Innovator of the Year and Employee of the Year awards, with the Employee of the Year accolade presented to Mr. Chathura Gunasekera.

As DIMO continues to invest in developing exceptional talent, initiatives such as DIMO KNIGHTS reaffirm the organization’s belief that sustainable business success begins with its people. By creating an environment where individuals are recognized, empowered, and inspired to achieve their full potential, DIMO continues to cultivate a purpose-driven, high-performing workforce that is equipped to shape the future of the organization while delivering lasting value to all stakeholders.

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Sri Lanka’s lifestyle coffee culture boom and the two faces of its economy

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Cutting the cake for outlet number 100 - a symbol of urban commercial revival set against a backdrop of wider household economic recovery.

By Sanath Nanayakkare

On Baseline Road in Colombo, Barista Coffee recently opened its 100th outlet. For a modern café culture spreading across shopping centers, office districts, and provincial towns, this milestone is a major commercial success. It shows a thriving urban service sector and a growing class of lifestyle consumers who use coffee shops as places to work, socialise, and meet.

This is a curious new picture emerging from Sri Lanka’s post-crisis economic recovery: the coffee cup is getting bigger, even as the household tea cup tells a very different story.

Yet, looking past the espresso machines, a different reality unfolds in the country’s kitchens.

International financial institutions note that while Sri Lanka’s macro-economy is recovering, household welfare and employment remain below pre-crisis levels. Poverty rates sit at roughly double what they were in 2019, and food prices doubled over a three-year span, forcing families to cut back on essentials.

This creates a striking local paradox, especially given Sri Lanka’s proud heritage as a global tea producer. While the world pays top dollar for Ceylon Tea, local market studies and industry reports have long pointed out an unfortunate disparity: many ordinary families find high-quality tea too expensive, often settling for lower-grade alternatives at home.

The growth of a 100-outlet coffee network does not mean prosperity has spread evenly across the island. Instead, it proves that there is a specific, well-resourced segment of consumers with the purchasing power to sustain a premium lifestyle economy, even as many other households carefully calculate the cost of everyday groceries.

Barista’s 100th store is not a bad-news story; it is a testament to acute entrepreneurial grit, shifting consumer behavior, and the vital revival of the nation’s urban service sectors. But it serves as an uncompromising reminder that macroeconomic stabilisation is not synonymous with household recovery.

As Colombo’s coffee culture looks toward its next hundred outlets, the true pulse of the nation’s economic health will not be measured by the espresso machines humming in sleek urban hubs, but by the quiet arithmetic happening in millions of kitchens beyond its doors – where the fundamental question remains whether a family can comfortably afford a better cup of Ceylon Tea.

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Aitken Spence Hotel Holdings Rs. 5 billion debenture issue oversubscribed on opening day

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Aitken Spence Hotel Holdings PLC announced that its maiden listed, rated, unsecured, senior

redeemable debenture issue was oversubscribed on its opening day, 15th September 2026.

The Company sought to raise Rs. 3 billion through an initial issuance of 30 million debentures at Rs.

100 each, with an option to issue a further 20 million debentures in the event of oversubscription of the initial issue, increasing the total issue size to Rs. 5 billion.

The Company said it had received applications for more than 50 million debentures, the full amount on offer, prompting the issue to close at 4:30 p.m. on the opening day (15).

The basis of allotment will be announced to the Colombo Stock Exchange as per regulatory requirements in due course.

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