Mumbai: Mastercard and LankaPay have teamed up to launch a new co-branded debit card. This card will help people use digital payments more easily. It also supports Mastercard’s "Priceless Specials" platform, offering discounts and deals.
Cardholders can access Mastercard’s global travel and lifestyle services. Banks in Sri Lanka can easily add this card to their current systems.
Easy and Low-Cost QR Payments
Tourists can now use Mastercard’s Pay Local service. This service links their debit or credit cards to the LankaPay app. They can then pay at over 400,000 LankaQR merchants using their own currency.
This will make it easier and cheaper for visitors to spend money in Sri Lanka. It also helps local businesses accept more digital payments.
AI-Powered Fraud Protection
Mastercard will use Brighterion AI technology to protect the LankaPay network. This tool checks huge amounts of data in real time to stop fraud.
It will protect ATMs and account-to-account money transfers. The system is flexible and can grow as needed. It adds a strong security layer to digital payments in the country.
Leaders Support the Move
Sandun Hapugoda, Mastercard’s Country Manager, said this plan will improve access, safety, and innovation. It will help both locals and tourists.
LankaPay CEO, Channa de Silva, said the partnership will boost financial inclusion and help Sri Lanka’s tourism industry grow by making payments easier.
