LankaPay's inception can be traced to the former Sri Lanka Automated Clearing House (SLACH) owned by the Central Bank of Sri Lanka (CBSL). In 2002 the CBSL took a policy decision to divest the activities of the SLACH and together with all licensed commercial banks operating in Sri Lanka, CBSL took shares to launch LankaPay (Pvt) Ltd.
LankaPay was incorporated on 8th February 2002 and commenced operations on the 1st of April in the same year.
- LankaPay was incorporated under the guidance and supervision of the Central Bank on 8th February 2002
- Commenced operations on the 1st of April in the same year.
- Nationwide T + 1 cheque clearing
- Launch of CITS - 1st in South Asia and 2nd in the world
- Fully functioned DR site for LankaPay payment systems
- Launch of ‘LankaSign’ - The only commercially operating Certification Authority in Sri Lanka
- Commenced all bank CD submission mode for CITS, ending physical cheque submission.
- Nationwide same day electronic fund transfer (SLIPS), - 1st to implement in South Asia
- Introduced the direct connectivity mode for all banks for CITS settlement clearing with digital certificates for greater security
- Due to efficiency enhancements of the CITS main clearing, CD (cheque) submission time extended from 6:30 pm to 7:30 pm
- Inward return delivery time advanced from 2 pm to 1:30 pm, to reduce the cheque realisation time and greater convenience to the customers
- Launch of ‘LankaPay’ Common ATM Network
- Outward (cheque) clearing cutoff time extended from 7.30 to 8.00 pm for customer convenience.
- Implemented Help Desk call monitoring and tracking system
- Launch of BankCSIRT (Computer Security Incident Response Team) – A pioneering initiative in South Asia (renamed in 2015 as FinCSIRT)
- Amalgamation of Sri Lanka Rupee Drafts into CIT System on 1st of July 2014.
- CITS frontend hardware migrated to VM infrastructure for better performance and cost reduction.
- Launch of LankaPay Common Electronic Fund Transfer Switch (CEFTS) for real-time payments
- Launch of LankaPay Shared ATM Switch (SAS) and LankaPay Card Management System (Cortex), thereby providing a hosted solution for ATM switching and Card Management
- Launch of LankaPay Common POS Switch (CPS) & Common Mobile Switch
- Launch of Online USD Payment System
- Launch of CITS Online Image Transfer Solution
- Launch of “JustPay” via CEFTS
- Upgrading CITS System Software
- Deployment of LankaPay Online Payment Platform in Primary/Standby/DR
- Became the first entity in Sri Lanka to obtain the certification of PCI-DSS version 3.2
- Launch of Customs Online Payment Platform in partnership with Sri Lanka Customs
- Kicks off LankaPay Technnovation awards, the first ever payment technology innovation awards in Sri Lanka that aims at showcasing banks and financial institutions who have championed and pioneered payment technology innovations in the country
- LankaSign upgrades system to be on par with Web trust 2.0, the latest international security standards and technology. Progressed to issue digital certificates in real time to any automated system including Android, iOS and other Smart mobile devices
- LankaPay LPOPP platform successfully integrated with the Board of Investments enabling online payments to BOI
- LankaPay launched US dollar draft online image transfer system automating the dollar draft clearing process.
- LankaPay commercially rolled out the National Card Scheme
- PEN and Direct Debit were launched
- LankaPay together with the Central Bank launched LankaQR
- LankaPay LPOPP platform successfully integrated with Sri Lanka Port Authority enabling online entry and vessel payments
- LankaPay LPOPP platform successfully integrated with the Inland Revenue Department for tax payments
- LankaPay introduced information classification procedure towards further strengthening information security of the company
- Launched National Remittance Mobile Application - LankaRemit
- The corporate company name changed to LankaPay (Private) Limited from LankaClear (Private) Limited.