Connect with us

Business

iPay appointed as the official LANKA QR acquiring partner of PickMe

Published

on

iPay appointed the official LANKA QR acquiring partner of PickMe at the LANKAQR Nationwide Rollout Campaign. (From L to R): Director - Payments and Settlements Department of CBSL, Dharmasri Kumaratunge, the Governor of CBSL, Ajith Nivard Cabraal, Namal Rajapaksa, Minister of Youth and Sports, Conrad Dias, Director/CEO of LOLC Finance PLC and CEO of PickMe, Zulfer Jiffry.

The LANKAQR Nationwide Rollout Campaign was launched recently at the Central Bank of Sri Lanka (CBSL) with the aim of promoting LANKAQR payments amongst the small and medium merchants as well as consumers throughout the nation. During this national event, iPay ceremonially launched the fare enablement feature for QR payment acceptance for rides and deliveries carried out through PickMe. iPay partnered with the country’s first and leading ride-hailing app, PickMe, to offer the best of convenience to its customers throughout the nation. Through this partnership of national importance, iPay has enabled LankaQR payments via CASA (Current Accounts, Savings Accounts) to PickMe users. Payments can be made via iPay or any LankaQR enabled app.

The event was held under the patronage of Namal Rajapaksa, Minister of Youth and Sports, Minister of Development Coordination and Monitoring and State Minister of Digital Technology and Entrepreneur Development, participating as the Chief Guest. The event was held on the invitation of the Governor of CBSL, Ajith Nivard Cabraal.

During the event, CBSL facilitated the on-boarding of several government and retail institutions by LANKAQR certified banks so that these institutions may now accept LANKAQR payments from customers. With this nationwide rollout campaign, the CBSL is confident that the general public will utilize LANKAQR for their daily transactions, at a greater frequency.

LankaQR code is the standardized national quick response code introduced to Sri Lanka by the CBSL. It is used as a form factor to represent a merchant accepting payment and will enable the digitalization of the payment ecosystem in Sri Lanka between customers and merchants. Customers can make payments via LankaQR by simply scanning the code presented by a merchant, using any digital payment app which adheres to the LankaQR standard. The LankaQR technical specifications are issued by the CBSL, while its operating guidelines as well as its branding guidelines are issued by LankaClear (Pvt) Ltd, with prior approval from the CBSL.

Commenting about the LANKAQR Nationwide Rollout Campaign, Conrad Dias, Director/CEO of LOLC Finance PLC said, “In the current context of the global pandemic, it is imperative to reduce the usage of cash than ever before and move towards digital payment methods – hence this initiative is extremely timely. As a leading and responsible payment aggregator in Sri Lanka, iPay is dedicated to support this transformation on a national scale and the partnership with PickMe is a testament to that promise. Backed by LOLC, Sri Lanka’s most valuable and globally diversified financial conglomerate, we will continue our efforts to propel this national cause”.

CEO of PickMe, Mr. Zulfer Jiffry noted that most card transactions result in a percentage going to a foreign company that facilitates the payment platform, even if the transaction is carried out locally. “LankaQR transactions are facilitated locally in Sri Lanka Rupees which prevents dollar outflow at a time when we need to preserve our foreign exchange. This is why we considered it important to introduce this platform to our partners and customers at this crucial time, collaborating with iPay. As a registered Sri Lankan company, we support this initiative and hope to make our customers aware that every time they do transactions which culminate outside the country, it only helps the current crisis to become bigger.”

iPay is a simple, easy to use, real-time payment platform built on an architecture that allows easy integration with any system. It has been designed with a host of features, giving the user a unique, one of a kind transaction experience. The vibrant and well-organized graphical user interface of iPay promises a unique experience whilst carrying out various types of payments. LOLC Finance currently operates as iPay’s merchant acquiring partner.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Business

Stealer malware leaked over 2 million bank cards

Published

on

The number of infections with data-stealing malware, 2020-2024 (Source: Kaspersky Digital Footprint Intelligence)

Kaspersky Digital Footprint Intelligence estimates that 2.3 million bank cards were leaked on the dark web, based on an analysis of data-stealing malware log files from 2023-2024. On average, every 14th infostealer infection results in stolen credit card information, with nearly 26 million devices compromised by infostealers, including more than 9 million in 2024 alone. Kaspersky released its report on the infostealer threat landscape while the technology world gathers at MWC 2025 in Barcelona.

Kaspersky experts estimate that approximately 2,300,000 bank cards have been leaked on the dark web. This conclusion is based on an analysis of the log files from data-stealing malware, dated 2023-2024, that were leaked on the dark web market. While globally the share of leaked cards is well below one percent, 95% of the observed numbers appear technically valid.

Infostealer malware is not only designed to extract financial information, but also credentials, cookies and other valuable user data, which is compiled into log files and then distributed within the dark web underground community. An infostealer can infect a device if a victim unknowingly downloads and runs a malicious file, for example one disguised as legitimate software, such as a game cheat. It can be spread through phishing links, compromised websites, malicious attachments in emails or messengers and various other methods. It targets both personal and corporate devices.

On average, every 14th infostealer infection results in stolen credit card information. Kaspersky Digital Footprint Intelligence experts found that nearly 26 million devices running Windows were infected with various types of infostealers in the past two years.

“The actual number of infected devices is even higher. Cybercriminals often leak stolen data in the form of log files months or even years after the initial infection, and compromised credentials and other information continue to surface on the dark web over time. Therefore, the more time passes, the more infections from previous years we observe. We forecast the total number of devices infected with infostealer malware in 2024 to be between 20 million and 25 million, while for 2023, the estimate ranges between 18 million and 22 million,” says Sergey Shcherbel, expert at Kaspersky Digital Footprint Intelligence.

In 2024, Redline remained the most widespread infostealer, accounting for 34% of the total number of infections.

The most significant surge in 2024 was in infections caused by Risepro, whose share of total infections increased from 1.4% in 2023 to almost 23% in 2024. “RisePro is a growing threat. It was first discovered two years ago but seems to be gaining momentum. The stealer primarily targets banking card details, passwords and cryptocurrency wallet data, and may be spreading under the guise of key generators, cracks for various software and game mods,” explains Sergey Shcherbel. Another rapidly growing stealer is Stealc, which first appeared in 2023 and increased its share from nearly 3% to 13%.

Continue Reading

Business

ComBank’s 2023 Annual Report tops Banking sector at ACCA Sustainability Reporting Awards

Published

on

Commercial Bank Chief Operating Officer S. Prabagar and members of the senior management accepting one of the ACCA awards.

The Commercial Bank of Ceylon’s prowess in comprehensive disclosure of sustainability-related information to stakeholders has won its 2023 Annual Report two top awards at the 2025 Sustainability Reporting Awards presented by the Association of Chartered Certified Accountants (ACCA).

The Bank was adjudged the overall runner-up and the winner in the Banking category at these awards, repeating the achievement of its 2022 Annual Report which was similarly honoured by the ACCA last year.

The ACCA Sustainability Reporting Awards recognise Annual Reports that clearly acknowledge and explain the economic, environmental and social impacts of the business to internal and external stakeholders, demonstrating the organisation’s policies, targets and long-term objectives towards the goal of sustainable development.

Commercial Bank’s 2023 Annual Report also won two Golds, a Silver and a Bronze at CA Sri Lanka’s ‘TAGS’ Awards 2024, excelling in the key aspects recognised by the awards programme which is dedicated to Transparency, Accountability, Governance, and Sustainability – TAGS.

The Bank won the Gold for ‘Corporate Governance Disclosure’ in the Financial Services sector, the Gold for the Best Annual Report among the private sector banks, the Silver for ‘Digitally Transformative Reporting’ across all sectors, and the overall Bronze award for Excellence in Corporate Reporting.

Continue Reading

Business

UTE Delivers Sri Lanka’s Largest Cat D8 Tractor to NEM Construction

Published

on

(From left to right) Deepthi Hewageegana (CEO - UTE), Mani Rajan (Director Distribution - India), Joe Moscato (Vice President - Distribution - Japan & Asia South (India & SE Asia) Caterpillar Inc), Raja Nanayakkara (Chairman / MD - NEM Construction), Prasan Fernando (Chairman - UTE), Priath Fernando - (Director - UTE), Duminda Perera (Senior General Manager - Operations)

Caterpillar equipment dealer UTE has delivered the country’s largest Cat D8 Track-Type Tractor to NEM Construction Pvt. Ltd., marking a significant milestone in heavy machinery. This delivery strengthens the long-standing partnership between UTE and NEM Construction, which spans over 45 years. The Cat D8 is expected to boost operational efficiency in large-scale projects. As the sole authorized dealer for Caterpillar in Sri Lanka, UTE continues to provide top-tier machinery and after-sales support. The handover is particularly notable as Caterpillar celebrates its 100th anniversary. NEM Construction’s Chairman, Raja Nanayakkara, praised the Cat D8’s superior performance and UTE’s unmatched service and parts support, which have been key to the company’s long-term collaboration. This purchase highlights the continued trust in both Caterpillar and UTE’s expertise in supporting Sri Lanka’s construction industry.

Continue Reading

Trending