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{{short description|Payment clearing system in Sri Lanka}}
{{Infobox company
{{Infobox company
| name = LankaClear
| name = LankaClear
| logo =
| logo =
⚫
| image =
| logo_size =
⚫
| native_name = LankaClear (Private) Limited
| logo_alt =
| logo_caption =
| logo_padding =
⚫
| image =
| image_size =
| image_alt =
| image_caption =
⚫
| native_name = LankaClear (Private) Limited
| native_name_lang = en
| native_name_lang = en
| former_name = National Cheque Clearing House
| former_name = National Cheque Clearing House
| type =
| slogan = Transact The Future
| industry = {{Unbulleted_list|[[Bank|Banking]]|[[Financial services]]}}
| type =
⚫
| founded = {{Start date and age|2002|02|08|df=yes}}
| industry = Banking and finance
⚫
| founder = <!-- or: | founders = -->
⚫
| founded = {{Start date|2002|02|08}} in [[Sri Lanka]]
| parent = [[Central Bank of Sri Lanka]]
⚫
| founder = <!-- or: | founders = -->
| parent = [[Central Bank of Sri Lanka|CBSL]]
| area_served = [[Sri Lanka]]
⚫
| key_people =
| hq_location =
⚫
| brands =
| hq_location_city =
⚫
| services = LankaPay
| hq_location_country =
⚫
| owner = <!-- or: | owners = -->
| area_served = Sri Lanka
⚫
| website ={{URL|https://www.lankapay.net/}}
⚫
| key_people =
⚫
| brands =
⚫
| services =LankaPay
⚫
| owner = <!-- or: | owners = -->
⚫
| website = {{URL|http://www.lankaclear.lk}}
}}
}}


'''LankaClear''' (formerly '''National Cheque Clearing House''') is the largest payments infrastructure provider in [[Sri Lanka]]. Established in February 2002, the organization is owned by the [[Central Bank of Sri Lanka]] (CBSL) and all CBSL-licensed [[commercial bank]]s in the country. LankaClear is the operator of '''LankaPay''', the country's largest interbank payment network.<ref name="LankaClear Profile">{{cite web|title=LankaClear: Corporate Profile|url=http://www.lankaclear.com/about/index.php|website=LankaClear.com|accessdate=9 February 2016}}</ref>
'''LankaClear''' (formerly '''National Cheque Clearing House''') is the largest payments infrastructure provider in [[Sri Lanka]]. Established in February 2002, the organization is owned by the [[Central Bank of Sri Lanka]] (CBSL) and all CBSL-licensed [[commercial bank]]s in the country. LankaClear is the operator of '''LankaPay''', the country's largest interbank payment network.<ref name="LankaClear Profile">{{cite web|title=LankaClear: Corporate Profile|url=http://www.lankaclear.com/about/index.php|website=LankaClear.com|accessdate=9 February 2016}}</ref>


As at February 2016, the shareholders of LankaClear includes [[Amana Bank]], [[Axis Bank]], [[Bank of Ceylon|BOC]], [[Cargills Bank]], [[Central Bank of Sri Lanka|CBSL]], [[Citibank]], [[Commercial Bank of Ceylon|Commercial Bank]], [[Deutsche Bank]], [[DFCC Bank]], [[HBL Pakistan|Habib Bank]], [[Hatton National Bank|HNB]], [[HSBC Sri Lanka|HSBC]], [[ICICI Bank]], [[Indian Bank]], [[Indian Overseas Bank]], [[MCB Bank Limited|MCB Bank]], [[National Development Bank (Sri Lanka)|NDB]], [[Nations Trust Bank]], [[Pan Asia Bank]], [[People's Bank (Sri Lanka)|People's Bank]], [[Public Bank Berhad|Public Bank]], [[Sampath Bank]], [[Seylan Bank]], [[Standard Chartered|Standard Chartered Bank]], [[State Bank of India]], and [[Union Bank of Colombo|Union Bank]].<ref name="LankaClear Profile" />
As at February 2016, the shareholders of LankaClear includes [[Amana Bank Plc|Amana Bank]], [[Axis Bank]], [[Bank of Ceylon|BOC]], [[Cargills Bank]], [[Central Bank of Sri Lanka|CBSL]], [[Citibank]], [[Commercial Bank of Ceylon|Commercial Bank]], [[Deutsche Bank]], [[DFCC Bank]], [[HBL Pakistan|Habib Bank]], [[Hatton National Bank|HNB]], [[HSBC Sri Lanka|HSBC]], [[ICICI Bank]], [[Indian Bank]], [[Indian Overseas Bank]], [[MCB Bank Limited|MCB Bank]], [[National Development Bank (Sri Lanka)|NDB]], [[Nations Trust Bank]], [[Pan Asia Bank]], [[People's Bank (Sri Lanka)|People's Bank]], [[Public Bank Berhad|Public Bank]], [[Sampath Bank]], [[Seylan Bank]], [[Standard Chartered|Standard Chartered Bank]], [[State Bank of India]], and [[Union Bank of Colombo|Union Bank]].<ref name="LankaClear Profile" />


== SLIPS ==
== SLIPS ==
Line 50: Line 40:
* Common Mobile Switch (CMobS)
* Common Mobile Switch (CMobS)


As per the ''Payments and Settlements Systems Circular No. 7 of 2015'' issued by the Central Bank dated {{Nowrap|30 November 2015}}, all licensed banks in Sri Lanka should join the CAS, CEFTS, CPS, and CMobS networks by {{Nowrap|31 March 2016}}, {{Nowrap|30 September 2016}}, {{Nowrap|31 December 2016}}, and {{Nowrap|30 September 2017}}, respectively.<ref>{{cite web|title=Payments and Settlements Systems Circular No. 7 of 2015: Timelines for Joining Common Card and Payments Switch - LankaPay|url=http://www.cbsl.gov.lk/pics_n_docs/09_lr/_docs/directions/psd/2015/psd_circular_7_2015_LankaPay.pdf|website=CBSL.gov.lk|publisher=[[Central Bank of Sri Lanka]]|accessdate=9 February 2016|format=PDF|date=30 November 2015}}</ref>
As per the ''Payments and Settlements Systems Circular No. 7 of 2015'' issued by the Central Bank dated {{Nowrap|30 November 2015}}, all licensed banks in Sri Lanka should join the CAS, CEFTS, CPS, and CMobS networks by {{Nowrap|31 March 2016}}, {{Nowrap|30 September 2016}}, {{Nowrap|31 December 2016}}, and {{Nowrap|30 September 2017}}, respectively.<ref>{{cite web|title=Payments and Settlements Systems Circular No. 7 of 2015: Timelines for Joining Common Card and Payments Switch - LankaPay|url=http://www.cbsl.gov.lk/pics_n_docs/09_lr/_docs/directions/psd/2015/psd_circular_7_2015_LankaPay.pdf|website=CBSL.gov.lk|publisher=[[Central Bank of Sri Lanka]]|accessdate=9 February 2016|date=30 November 2015}}</ref>


=== Common ATM Switch ===
=== Common ATM Switch ===
The Common ATM Switch (or CAS in short), is a interbank ATM network that allows participating banks to use each other's ATMs for free or at a minimal charge. The system was launched in July 2013 with [[Bank of Ceylon|BOC]] and [[People's Bank (Sri Lanka)|People's Bank]], with the first transaction carried out by the former governor of the Central Bank [[Ajith Nivard Cabraal]], and deputy governor Ananda Silva. The aim of CAS is to create a single unified ATM network in Sri Lanka.<ref>{{cite news|title=Sri Lanka's first Common ATM Switch, 'Lanka Pay' launched|url=http://www.dailymirror.lk/32804/sri-lankas-first-common-atm-switch-lanka-pay-launched-|accessdate=9 February 2016|publisher=[[The Daily Mirror (Sri Lanka)|Daily Mirror]]|date=24 July 2013}}</ref>
The Common ATM Switch (or CAS in short), is an interbank ATM network that allows participating banks to use each other's ATMs for free or at a minimal charge. The system was launched in July 2013 with [[Bank of Ceylon|BOC]] and [[People's Bank (Sri Lanka)|People's Bank]], with the first transaction carried out by the former governor of the Central Bank [[Ajith Nivard Cabraal]], and deputy governor Ananda Silva. The aim of CAS is to create a single unified ATM network in Sri Lanka.<ref>{{cite news|title=Sri Lanka's first Common ATM Switch, 'Lanka Pay' launched|url=http://www.dailymirror.lk/32804/sri-lankas-first-common-atm-switch-lanka-pay-launched-|accessdate=9 February 2016|publisher=[[The Daily Mirror (Sri Lanka)|Daily Mirror]]|date=24 July 2013}}</ref>


As at March 2016, twelve banks have joined the LankaPay CAS network, expanding the countrywide member ATMs to over 3,000 and making LankaPay the largest ATM network in the country. Member banks include [[Bank of Ceylon|BOC]], [[Cargills Bank]], [[Commercial Bank of Ceylon|Commercial Bank]], [[Hatton National Bank|HNB]], [[HBL Pakistan|Habib Bank]], [[Nations Trust Bank]], [[National Development Bank (Sri Lanka)|NDB]], [[People's Bank (Sri Lanka)|People's Bank]], [[Regional Development Bank]], [[Sampath Bank]], [[Seylan Bank]], [[Standard Chartered|Standard Chartered Bank]] and [[Union Bank of Colombo|Union Bank]].<ref>{{cite web|title=Common Card and Payment Switch: LankaPay Common ATM Switch|url=http://lankaclear.com/product_service/26-LankaPay%20Common%20ATM%20Switch|website=LankaClear.com|accessdate=9 February 2016}}</ref>
As at March 2016, twelve banks have joined the LankaPay CAS network, expanding the countrywide member ATMs to over 3,000 and making LankaPay the largest ATM network in the country. Member banks include [[Bank of Ceylon|BOC]], [[Cargills Bank]], [[Commercial Bank of Ceylon|Commercial Bank]], [[Hatton National Bank|HNB]], [[HBL Pakistan|Habib Bank]], [[National Savings Bank (Sri Lanka)|National Savings Bank]], [[Nations Trust Bank]], [[National Development Bank (Sri Lanka)|NDB]], [[People's Bank (Sri Lanka)|People's Bank]], [[Regional Development Bank]], [[Sampath Bank]], [[Seylan Bank]], [[Standard Chartered|Standard Chartered Bank]] and [[Union Bank of Colombo|Union Bank]].<ref>{{cite web|title=Common Card and Payment Switch: LankaPay Common ATM Switch|url=http://lankaclear.com/product_service/26-LankaPay%20Common%20ATM%20Switch|website=LankaClear.com|accessdate=9 February 2016}}</ref>


=== Common Electronic Fund Transfer Switch ===
=== Common Electronic Fund Transfer Switch ===
The Common Electronic Fund Transfer Switch (or CEFTS) for short is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks. As of March 2016, there are eight CEFTS member banks, including [[Bank of Ceylon|BOC]], [[Cargills Bank]], [[Commercial Bank of Ceylon|Commercial Bank]], [[Commercial Leasing and Finance]], [[Hatton National Bank|HNB]], [[HSBC Sri Lanka|HSBC]], [[Lanka Orix Finance]], [[Nations Trust Bank]], [[National Development Bank (Sri Lanka)|NDB]], [[People's Bank (Sri Lanka)|People's Bank]], [[Sampath Bank]], [[Senkadagala Finance]], [[Seylan Bank]] and [[Union Bank of Colombo|Union Bank]].<ref>{{cite web|title=Common Card and Payment Switch: LankaPay Common Electronic Fund Transfer Switch|url=http://www.lankaclear.com/product_service/34-cefts|website=LankaClear.com|accessdate=6 April 2016}}</ref>
The Common Electronic Fund Transfer Switch (or CEFTS) for short is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks.<ref>{{cite web|title=Common Electronic Fund Transfer Switch (CEFTS)|url=http://www.lankaclear.com/products-and-services/cefts/|website=LankaClear.com|accessdate=14 January 2019}}</ref>


{| class="wikitable plainrowheaders"
{| class="wikitable plainrowheaders"
|+ Maximum Customer Charges ([[Sri Lankan rupee|LKR]])<br>as at 1 January 2019<ref>{{cite web|title=HSBC: CEFTS|url=http://www.lankaclear.com/products-and-services/cefts/#cefts-charge|website=LankaClear.com|accessdate=14 January 2019|date=1 January 2019}}</ref>
|+ Standard outward CEFTS charges ([[Sri Lankan rupee|Rs.]])<br>as at 21 February 2016
|-
|-
! scope="col" | Bank
! scope="col" | Internet Banking
! scope="col" | Counter
! scope="col" | Mobile Banking
! scope="col" | Online
! scope="col" | Over the Counter
! scope="col" | {{Tooltip|Ref|References}}
! scope="col" | ATM
|-
|-
| Rs.50
! scope="row" | '''[[HSBC]]'''
| &nbsp;
| Rs.50
| 50.00
| Rs.100
| Rs.50
| <ref>{{cite web|title=HSBC: CEFTS|url=https://www.hsbc.lk/1/2/personal/other-services/common-electronic-fund-transfer-system|website=HSBC.lk|accessdate=21 February 2016|date=20 January 2016}}</ref>
|-
! scope="row" | '''[[Bank of Ceylon]]'''
| &nbsp;
| 50.00
| &nbsp;
|-
! scope="row" | '''[[Cargills Bank]]'''
| 100.00
| 100.00
| <ref>{{cite web|title=Cargills Bank: Fees and charges|url=http://www.cargillsbank.com/rates-charges/fees-and-charges/|website=Cargillsbank.com|accessdate=21 February 2016|date=3 February 2016}}</ref>
|-
! scope="row" | '''[[Commercial Bank of Ceylon|Commercial Bank]]'''
| 100.00
| 50.00
| <ref>{{cite web|title=Commercial Bank: General Tariffs|url=http://www.combank.lk/newweb/rates-tariffs/general-tariffs|website=Combank.lk|accessdate=21 February 2016|date=1 September 2015}}</ref>
|-
! scope="row" | '''[[Commercial Leasing and Finance]]'''
| Free
| Free
| <ref>{{cite web|title=CLC Now Offers Its Customers the Convenience of CEFTS|url=http://clc.lk/news|website=CLC.lk|accessdate=21 February 2016|date=12 October 2015}}</ref>
|-
! scope="row" | '''[[Hatton National Bank|HNB]]'''
| &nbsp;
| 50.00
| &nbsp;
|-
! scope="row" | '''[[Lanka Orix Finance]]'''
| &nbsp;
| &nbsp;
| &nbsp;
|-
! scope="row" | '''[[Nations Trust Bank]]'''
| &nbsp;
| Free
| &nbsp;
|-
! scope="row" | '''[[National Development Bank (Sri Lanka)|NDB]]'''
| 100.00
| 50.00
| <ref>{{cite web|title=NDB Bank: Service Charges|url=http://www.ndbbank.com/pages/english/rates/service_charges_commision.jsp|website=NDBbank.com|accessdate=21 February 2016|date=2 September 2015}}</ref>
|-
! scope="row" | '''[[People's Bank (Sri Lanka)|People's Bank]]'''
| &nbsp;
| &nbsp;
| &nbsp;
|-
! scope="row" | '''[[Sampath Bank]]'''
| &nbsp;
| 50.00
| &nbsp;
|-
|-
|}
|}
Line 134: Line 74:
== External links ==
== External links ==
* {{cite news|title=LankaClear: 5 years since launch of CIT System|url=http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=26825|accessdate=9 February 2016|publisher=[[The Island (Sri Lanka)|The Island]]|date=17 March 2011}}
* {{cite news|title=LankaClear: 5 years since launch of CIT System|url=http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=26825|accessdate=9 February 2016|publisher=[[The Island (Sri Lanka)|The Island]]|date=17 March 2011}}
* {{cite news|title=Nine banks connect to LankaPay network|url=http://www.sundayobserver.lk/2015/01/18/fin17.asp|accessdate=9 February 2016|publisher=[[Sunday Observer (Sri Lanka)|Sunday Observer]]|date=18 January 2015}}
* {{cite news|title=Nine banks connect to LankaPay network|url=https://archives.sundayobserver.lk/2015/01/18/fin17.asp|access-date=9 February 2016|publisher=[[Sunday Observer (Sri Lanka)|Sunday Observer]]|date=18 January 2015}}


⚫
{{Banking in Sri Lanka}}


⚫
{{Banking in Sri Lanka}}
[[Category:Interbank networks]]
[[Category:Interbank networks]]
[[Category:Payment systems]]
[[Category:Payment clearing systems]]
[[Category:Banking in Sri Lanka]]
[[Category:Banking in Sri Lanka]]

Latest revision as of 08:01, 7 June 2024

LankaClear
Native name
LankaClear (Private) Limited
FormerlyNational Cheque Clearing House
Industry
Founded8 February 2002; 22 years ago (2002-02-08)
Area served
Sri Lanka
ServicesLankaPay
ParentCentral Bank of Sri Lanka
Websitewww.lankapay.net

LankaClear (formerly National Cheque Clearing House) is the largest payments infrastructure provider in Sri Lanka. Established in February 2002, the organization is owned by the Central Bank of Sri Lanka (CBSL) and all CBSL-licensed commercial banks in the country. LankaClear is the operator of LankaPay, the country's largest interbank payment network.[1]

As at February 2016, the shareholders of LankaClear includes Amana Bank, Axis Bank, BOC, Cargills Bank, CBSL, Citibank, Commercial Bank, Deutsche Bank, DFCC Bank, Habib Bank, HNB, HSBC, ICICI Bank, Indian Bank, Indian Overseas Bank, MCB Bank, NDB, Nations Trust Bank, Pan Asia Bank, People's Bank, Public Bank, Sampath Bank, Seylan Bank, Standard Chartered Bank, State Bank of India, and Union Bank.[1]

SLIPS

[edit]
Main article: Sri Lanka Interbank Payment System

The Sri Lanka Interbank Payment System (or SLIPS in short) is the largest account-to-account fund transfer network in Sri Lanka.[2] Created by LankaClear, it enables member banks to carry out same-day transfers of up to Rs. 5 million, in a secure paperless process.[3][4]

CCAPS

[edit]

Launched under the brand name LankaPay in July 2013, the Common Card and Payment Switch (CCAPS) is the first phase of creating a more robust, efficient, and secure payment infrastructure for Sri Lanka. The Central Bank of Sri Lanka has since approved the CCAPS as Sri Lanka's "National Payment Switch".[5]

CCAPS can be further divided into the following areas:

  • LankaPay Common ATM Switch (CAS)
  • LankaPay Shared ATM Switch (SAS)
  • LankaPay National Card Scheme (NCS)
  • LankaPay Common Electronic Fund Transfer Switch (CEFTS)
  • LankaPay Common POS Switch (CPS)
  • Common Mobile Switch (CMobS)

As per the Payments and Settlements Systems Circular No. 7 of 2015 issued by the Central Bank dated 30 November 2015, all licensed banks in Sri Lanka should join the CAS, CEFTS, CPS, and CMobS networks by 31 March 2016, 30 September 2016, 31 December 2016, and 30 September 2017, respectively.[6]

Common ATM Switch

[edit]

The Common ATM Switch (or CAS in short), is an interbank ATM network that allows participating banks to use each other's ATMs for free or at a minimal charge. The system was launched in July 2013 with BOC and People's Bank, with the first transaction carried out by the former governor of the Central Bank Ajith Nivard Cabraal, and deputy governor Ananda Silva. The aim of CAS is to create a single unified ATM network in Sri Lanka.[7]

As at March 2016, twelve banks have joined the LankaPay CAS network, expanding the countrywide member ATMs to over 3,000 and making LankaPay the largest ATM network in the country. Member banks include BOC, Cargills Bank, Commercial Bank, HNB, Habib Bank, National Savings Bank, Nations Trust Bank, NDB, People's Bank, Regional Development Bank, Sampath Bank, Seylan Bank, Standard Chartered Bank and Union Bank.[8]

Common Electronic Fund Transfer Switch

[edit]

The Common Electronic Fund Transfer Switch (or CEFTS) for short is a fully automated paperless fund transfer system which allows instantaneous fund transfers between member banks.[9]

Maximum Customer Charges (LKR)
as at 1 January 2019[10]
Internet Banking Mobile Banking Over the Counter ATM
Rs.50 Rs.50 Rs.100 Rs.50

See also

[edit]

References

[edit]
  1. ^ a b "LankaClear: Corporate Profile". LankaClear.com. Retrieved 9 February 2016.
  2. ^ "SL Interbank Payments: Statistics". LankaClear.com. Retrieved 9 February 2016.
  3. ^ "SL Interbank Payments". LankaClear.com. Retrieved 9 February 2016.
  4. ^ "LankaClear enhances service to banks". Daily FT. 17 March 2011. Retrieved 9 February 2016.
  5. ^ "Common Card and Payment Switch". LankaClear.com. Retrieved 9 February 2016.
  6. ^ "Payments and Settlements Systems Circular No. 7 of 2015: Timelines for Joining Common Card and Payments Switch - LankaPay" (PDF). CBSL.gov.lk. Central Bank of Sri Lanka. 30 November 2015. Retrieved 9 February 2016.
  7. ^ "Sri Lanka's first Common ATM Switch, 'Lanka Pay' launched". Daily Mirror. 24 July 2013. Retrieved 9 February 2016.
  8. ^ "Common Card and Payment Switch: LankaPay Common ATM Switch". LankaClear.com. Retrieved 9 February 2016.
  9. ^ "Common Electronic Fund Transfer Switch (CEFTS)". LankaClear.com. Retrieved 14 January 2019.
  10. ^ "HSBC: CEFTS". LankaClear.com. 1 January 2019. Retrieved 14 January 2019.
[edit]
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