Mastercard and LankaPay unveil three-fold plan to accelerate Sri Lanka's digital economy

The two entities will collaborate to launch co-branded debit cards, and enable Al-powered payment security and low-cost QR payments to accelerate financial inclusion

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REAFFIRMING their commitment to bolstering Sri Lanka’s digital economy, Mastercard and LankaPay, the national payment network of Sri Lanka, have announced a strategic collaboration to enhance cards issuance, and digital payments acceptance and security.

The announcement was made during an event featuring senior executives from the two entities, along with key representatives of leading banks and fintechs in the country. This collaboration will enable three key solutions—a co-branded debit card to accelerate digital adoption and financial inclusion, Mastercard Pay Local solution to enable low-cost QR payments for inbound tourists and domestic merchants, and Mastercard’s Brighterion AI solutions for advanced transaction security.