Payment Exchange Name (PEN)


Payment Exchange Name (PEN) is a nickname based real-time person-to-person or peer-to-peer (P2P) payment system facilitated via LankaPay Common Electronic Fund Transfer Switch (CEFTS). PEN enables customers to make P2P payments amongst PEN member banks conveniently, securely and error free. With PEN, Customers no longer have to provide their bank name, branch, account number and other details when requesting for a fund transfer. This would minimize the mistakes made by customers in making an electronic fund transfer. Due to the ease of making fund transfers, PEN is expected to attract less tech-savvy customers also to adopt electronic payment modes in making fund transfers, which is key to making financial inclusivity a reality. Upon joining the PEN network, PEN member banks would assign a nickname for each account held by the customer. These nicknames would be associated with the mobile phone number registered by the customer with the respective financial institution. Once this process is completed, customers are able to make fund transfers amongst customers of PEN member banks with the ease of simply selecting the mobile number and the respective PEN, ensuring the accuracy and the security of the fund transfer.

Member Banks

  • National Savings Bank
  • Sampath Bank
  • Commercial Bank of Ceylon PLC

Customer Charges

Using the PEN feature to do a fund transfer is more convenient and affordable as the charges are less.

Below are the maximum customer charges for a fund transfer using PEN, as approved by the Central Bank.

Transaction Value Maximum Customer Fee (Rs.)
8,000 < Transaction Value ≤ 500,000 Rs. 25.00
6,000 < Transaction Value ≤ 8,000 Rs. 22.00
4,000 < Transaction Value ≤ 6,000 Rs. 18.00
2,000 < Transaction Value ≤ 4,000 Rs. 13.00
1,000 < Transaction Value ≤ 2,000 Rs. 7.00
250 < Transaction Value ≤ 1,000 Rs. 3.50
100 < Transaction Value ≤ 250 Rs. 2.50
50 < Transaction Value ≤ 100 Rs. 1.50
Transaction Value ≤ 50 Rs. 1.00

goto top