HNB waives fees on LankaQR payments to boost cashless transactions during Avurudu season

In a strategic move to promote cashless transactions, HNB has announced the elimination of Merchant Discount Rates (MDR) for LANKAQR transactions among HNB appointed merchants who are enabled to accept LANKAQR payments. This initiative aims to make digital payments more accessible and cost-effective for businesses across Sri Lanka.​

Taking a leap into digitalizing the retail payment space, Central Bank of Sri Lanka (CBSL) together with LankaPay launched LANKAQR in 2020 as a convenient, secure and low-cost alternative for merchant payments with the objective of simplifying digital transactions and promoting financial inclusivity.

Speaking at the event, HNB MD/CEO Damith Pallewatte said, “We’ve disrupted the market today with our QR solution. We’ve clearly understood what’s needed to bring all merchants into the digital ecosystem. We’re proud to have the largest network of merchants—creating traceability and access to banking systems that enable them to scale their businesses.

This not only opens up opportunities for growth but also helps manage costs more effectively. We recognize the hesitation that some may feel, particularly regarding onboarding costs. However, our goal is to build both awareness and value around this platform.