Mastercard and LankaPay have announced a strategic partnership to advance Sri Lanka’s digital payments ecosystem. The initiative focuses on card issuance, secure transactions, and affordable QR payments. The two organisations will introduce a co-branded debit card, enable AI-powered fraud detection, and support low-cost QR payments for tourists and merchants. The Mastercard-LankaPay co-branded debit card aims to increase digital usage and financial inclusion. It will offer cardholders access to deals through the \"Priceless Specials\" platform. Users can also benefit from Mastercard’s global travel and lifestyle services. Local banks will be able to integrate the card into their existing systems. Mastercard’s Pay Local solution will allow foreign tourists to link their debit or credit cards to the LankaPay app. They can make payments at over 400,000 LankaQR merchants in their home currency. Mastercard will also bring its Brighterion AI technology to the LankaPay network. This tool provides real-time fraud detection by analysing large volumes of data across systems. It will offer a scalable and flexible security layer to safeguard ATM and account-to-account transfers. This marks a major step in improving transaction safety across the country. Leaders Highlight Importance of Collaboration \"This three-fold approach will boost accessibility, security, and innovation,\" said Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard. \"It ensures secure and convenient payments for both locals and tourists.\" Channa de Silva, CEO of LankaPay, said, \"This collaboration aligns with our efforts to enhance financial inclusion. It also strengthens the tourism industry by simplifying payment experiences for travellers.\"

Mastercard and LankaPay to enable co-branded debit card and secure QR payments

Mastercard and LankaPay have partnered to advance Sri Lanka's digital payments ecosystem through a co-branded debit card, AI-powered fraud detection, and low-cost QR payments for tourists and merchants. The initiative aims to boost financial inclusion, enhance security, and simplify payment experiences for locals and travelers.