What is LANKAQR?
LANKAQR is Sri Lanka's national QR payment type. The Central Bank of Sri Lanka launched it. LankaClear manages this system. It helps businesses get instant payments.
LANKAQR uses EMV-based QR codes. It started in October 2018. The system lets customers scan a QR code. They use a LANKAQR mobile app.
Customers open their app. They scan the merchant's QR code. They confirm the payment amount. Funds go to the merchant's account at once. Customers pay no fees.
How LANKAQR Payments Work
Merchants show a static or dynamic QR code. Customers choose their payment account. This can be savings or credit. They approve the deal. The money moves instantly.
Merchants pay a small fee per deal. This is called a Merchant Discount Rate. It was 0.51% at first. This rate can change later. Merchants get money the next day. Some get it in real-time.
Banks Offering LANKAQR
Many banks offer LANKAQR services. 24 banks and finance firms are approved. These firms can issue or accept LANKAQR payments. They help businesses get set up.
Examples include Cargills Bank and Nations Trust Bank. DFCC Bank and Seylan Bank also offer it. Sampath Bank and Hatton National Bank are on the list. Bank of Ceylon and Peoples Bank also serve clients.
Commercial Bank and Union Bank are approved. NDB Bank and NSB provide services. MCB Bank and LOLC Finance do too. LB Finance and Dialog Finance are also part of it. Other wallet providers join the system.
Getting LANKAQR for Your Business
You must be a registered business. This includes sole owners or partners. Companies can also apply. You need a business bank account.
This account must be with an approved LANKAQR bank. You must follow Central Bank rules. These rules cover Know Your Customer. They also cover anti-money laundering steps.
First, pick a bank or firm. Submit your merchant paper. Include business details and ownership papers. Give your bank account details.
Sign a merchant deal. This deal covers fees. It explains how you get paid. It also covers how to handle problems. You will get QR code stickers or a code maker. Test your system. Then you can start taking payments.
LANKAQR Costs and Fees
Merchants pay a fee per deal. This is the Merchant Discount Rate. Some providers charge setup fees. Some may have monthly service fees. Rates can differ between providers.
| Provider | MDR (%) | Setup Fee | Settlement Cycle | Remarks |
|---|---|---|---|---|
| Cargills Bank | 0.5% | Nil | Real-time | Lowest set MDR |
| HNB | 0% for 3 months (Avurudu 2025) | Nil | Next-day | Special offer for some |
| MarxPay | 0.5% | Nil | Next-day | Works with POS and mobile |
| OnePay | 0.75% | LKR 5,000 | Next-day | Comes with reports |
| Union Bank (solo app) | 0.5-1.0% | Nil | Real-time | App-based, no special gear |
| eZ Cash/Dialog Finance | 0.5% | Nil | Real-time | Works with eZ Cash wallet |
Cargills Bank offers 0.5% MDR. They have no setup fee. Money settles in real-time. HNB offers 0% for three months. This is for Avurudu 2025.
MarxPay charges 0.5% MDR. They have no setup fee. Payments settle next-day. OnePay charges 0.75% MDR. They ask for LKR 5,000 setup fee.
Union Bank's solo app charges 0.5% to 1.0% MDR. It has no setup fee. Money settles in real-time. eZ Cash charges 0.5% MDR. They also have no setup fee.
Steps to Apply for LANKAQR
First, get your documents ready. You need your business papers. This includes your business license. Have your tax papers ready too.
Gather IDs for owners or directors. Get proof of your address. This could be a utility bill. You need bank account details for money transfers.
Pick your provider carefully. Look at their fees and speed. See what help they offer. Contact their sales team. Submit your papers and forms.
Review the fee plan. Understand how money settles. Sign the deal. You will get QR stickers. Or you get login details for a code maker.
Test some payments. Make sure money reaches your account. Display QR codes where customers can see them. Teach your staff how to use the system.
Required Documents for LANKAQR
You need proof of your business. This can be a company paper. Or it can be a partnership deed. A sole-proprietor license works too.
Bring your tax papers. This means your VAT or GST paper. It applies if your business needs it. You need IDs for owners. National identity cards or passports are fine.
Provide address proof. A utility bill works. A bank statement also works. It must be from the last three months. Get a letter from your bank. This letter confirms your account details. Fill out the application form.
Benefits of Using LANKAQR
LANKAQR is cheap. It costs less than card machines. It works with many apps. Any LANKAQR app can scan it. Any bank can use it.
It makes record-keeping better. You can trace all payments easily. It is good for customers. They pay without cash. They pay without touching.
It helps tourists too. It works with India's UPI and PhonePe. Indian visitors can pay easily. This helps about 350,000 outlets.
Latest News on LANKAQR
LANKAQR now links with India's UPI. It also connects with PhonePe. This started as a test in 2024-2025. Indian visitors can pay at many shops.
The Central Bank made a rule in March 2019. All banks must use EMV-compliant QR. They had two months to do this. HNB removed its fee for three months. This was for Avurudu 2025. It helps more people use LANKAQR.
The Central Bank plans more for 2025. They want better sign-up campaigns. They also plan lower fees. They will add digital ID for payments. This helps small and medium businesses.
Tips for LANKAQR Users
Always compare the fees. Look at how fast you get paid. Ask for lower fees if you process many deals. If you do over LKR 1 million a month, ask for a deal.
Use dynamic QR codes. These codes change for each payment. They help avoid errors. They give custom receipts. Connect LANKAQR to your sales system. Use API or SDK for easy work.
Train your staff well. They need to spot real payments. This helps avoid fraud. Use special fee periods to get more customers. The Central Bank may also offer marketing help.
Solving LANKAQR Problems
If your app has an error, check your internet. Make sure your app is the latest version. If payments are slow, confirm your bank details. Contact your provider's help desk.
For payment reversal, gather proof. Follow your provider's steps for disputes. If your QR code sticker is broken, use a spare. Consider digital codes. If a customer cannot scan, offer another static code. Check the code's print quality.