The Common POS Switch (CPS) which is also known as “LankaPay-CPS” LankaPay–CPS links all POS switches of the LankaPay–CPS members to facilitate payment card transactions originating from any POS terminal of LankaPay–CPS members in a unified infrastructure to ensure seamless interoperability across the LankaPay-CPS.

The main function of the LankaPay-CPS is switching and clearing not-on-us POS transactions between LankaPay acquirers and issuers. Currently, LankaPay Card’s POS transactions are routed through LankaPay–CPS.

LankaPay–CPS has the capability of routing domestic POS transactions of any card issued under the card issuing scheme (International).

The objectives of the LankaPay-CPS are to achieve maximum efficiency (including cost-effectiveness) and speed regarding switching of domestic/cross-border not-on-us POS transactions while promoting international standards and security measures on card-based payments in Sri Lanka.

Further LankaPay–CPS will facilitate the integration of future not-on-us POS services, and improve the efficiency of not-on-us POS transactions while the Central Bank of Sri Lanka has mandated all fees that a LankaPay–CPS member can charge from the customer, and it also mandated the Merchant Discount Rate (MDR) applicable for transactions routed through LankaPay-CPS.

Merchant Discount Rate (MDR)

POS transactions routed domestically, the MDR is regulated at 1% of the transaction value that an acquirer can charge from a merchant.

Member Banks and Financial Institutions

Acquiring members – Operators of Point of Sale (POS) terminals Issuing members – Issuers of the ‘LankaPay Card’ with POS acceptance capability
Commercial Bank MCB Bank
Seylan Bank HDFC Bank
Cargills Bank People’s Bank
Bank of Ceylon
People’s Bank
Hatton National Bank
Sampath Bank

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