Business
iPay appointed as the official LANKA QR acquiring partner of PickMe
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.
Business
SIA warns of 1,000 SME collapses, urges fair policies to protect Sri Lanka’s rooftop solar sector
By Sanath Nanayakkare
The Solar Industries Association (SIA), representing over 1,000 companies and employing 40,000 workers in Sri Lanka’s rooftop solar sector, issued a stern warning recently regarding threats to the industry’s survival and the nation’s renewable energy ambitions. The association condemned recent regulatory instability and called for urgent policy reforms to avert economic and social crises.
The SIA categorically rejected the Ceylon Electricity Board’s (CEB) claim that rooftop solar installations caused the recent island-wide power outage, calling the accusation “baseless and misleading.”
“Public trust is eroded when accountability is misdirected,” the SIA stated. “We demand an independent, transparent investigation led by experts appointed by the Ministry or the Public Utilities Commission (PUCSL). The CEB’s unilateral statements disregard the sector’s contributions and jeopardize Sri Lanka’s renewable energy transition,” they said.
“While acknowledging the formation of a tariff determination committee, the SIA criticized its narrow focus on financial parameters, ignoring the sector’s socioeconomic value. Rooftop solar empowers businesses and households with energy independence, reduces grid strain, and supports climate goals. However, proposed volatile tariff structures risk destabilizing over 100,000 installations—primarily owned by middle-class families—and deter future investment,” they noted.
“A rigid, equation-based tariff system is unsustainable,” the association warned. “Sri Lanka needs a stable policy framework to attract long-term investments. For instance, retirees could invest EPF savings into solar projects, securing income while advancing national energy targets. Without urgent action, 1,000 SMEs and 40,000 jobs face collapse, with dire consequences for employment, energy security, and economic stability,” they pointed out.
SIA urged policymakers to establish an independent committee to investigate the power outage fairly, expand the tariff committee’s mandate to include socioeconomic and environmental benefits and implement predictable policies to safeguard SMEs, households, and investor confidence.
“Sri Lanka stands at a crossroads,” the SIA emphasized. “Protecting rooftop solar isn’t just about energy—it’s about livelihoods, economic resilience, and a sustainable future. We urge stakeholders to collaborate on solutions that prioritize both people and progress,: they emphasized.
SLT-MOBITEL has entered into a strategic partnership with Rush Lanka Group to provide exclusive SLT-MOBITEL Fibre connectivity solutions to their portfolio of luxury apartment developments in Colombo and the suburbs, enhancing the digital experience of all residents.
The agreement was signed between Imantha Wijekoon, Chief Business Officer of Consumer Business at SLT, and Zaid Ariff, Director of Construction at the Rush Group headquarters. Representatives from both companies also attended the ceremony.
Under the partnership, SLT-MOBITEL will serve as the exclusive digital service provider for five prestigious Rush Lanka developments including Street Rush Residencies and Rush Court 4 in Mt. Lavinia, Rush Tower 2, Rush Metropolis in Dehiwala, and Rush Court 5 in Colombo 14. The collaboration ensures residents will enjoy superior fibre connectivity speeds, enabling seamless digital experiences in modern smart homes. The partnership with the Rush Lanka Group aligns with SLT-MOBITEL’s commitment to offer ultra-fast, reliable connectivity solutions to residential developments. Delivering exclusive fibre connectivity to luxury apartments, SLT-MOBITEL ensures residents have access to world-class digital services that complement the living experience promised by Rush Lanka Group.
Powered by advanced fibre technology, SLT-MOBITEL network will provide the residences with seamless performance across digital activities. The SLT-MOBITEL Fibre backbone ensures lag-free experiences whether tenants are gaming online, attending virtual classes, working remotely, or streaming high-definition entertainment. SLT-MOBITEL Fibre will transform the lifestyles of all apartment users bringing greater convenience and superior quality of life.
Rush Lanka Group, established in 1992, is a property developer specializing in luxury and semi-luxury apartments.
Starting its promotional work for 2025, Sri Lanka Tourism Promotion Bureau (SLTPB) added another feather into its cap of endorsements, by being recognized as the most innovative Tourism Board promotion in Outbound Travel Mart (OTM) . In parallel to that, several other sub events were held. The OTM was held in Jio World Convention Centre, Mumbai—India, from 30th January to 01st February 2025.Before OTM, the Global Village – Global Exchange & Trade Exhibition was held at the Surat International Exhibition & Convention Centre , Sarsana, Surat (Gujarat – India , from 25th to 27th January 2025. This travel fair was organized by Southern Gujarat Chamber of Commerce and Industry (SGCCI).
Sri Lanka participated in both OTM and South Asia’s Travel & Tourism Exchange (SATTE), held from 19th – 21st Feb 2025, in New Delhi, India . This was an excellent opportunity for Sri Lanka to promote it’s potential as a unique travel destination, especially for the Indian counterparts, as SLTPB has identified India as the number one source market for Sri Lanka, tourism bringing the largest number of tourist arrivals to the destination.
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