HNB – Singer Sri Lanka partnership accelerates digitalization of payment ecosystem

Pioneering the nation’s evolution in cashless and contactless payments, Sri Lanka’s most innovative
private sector bank HNB PLC, partnered with Singer Sri Lanka to launch the Dynamic QR facility for
the latter’s PoS (Point of Sales) terminals across the island.
Joining a list of growing tier-one merchants adopting the new technology, Singer will now offer its
customers the facility of making a direct payment for their goods via Dynamic QR, in which a unique
code is generated for each transaction. Governor of the Central Bank of Sri Lanka (CBSL) Ajith
Nivard Cabraal graced the ceremony held to launch the facility together with CBSL Assistant
Governor, Dharmasiri Kumarathunga,HNB Managing Director /CEO, Jonathan Alles, Singer Sri
Lanka Chairman Mohan Pandithage, Singer Group CEO/ Director Mahesh Wijewardene and Singer
Board Director Sarath Ganegoda.
“It is imperative that we make digital payments fast, effective, easy and secure in order to maintain
the momentum we have built up to now in Sri Lanka’s digitalization journey across all spheres of the
economy. The Dynamic QR code facility is the next step in our journey, and we are delighted to see
these bold new initiatives supported by the banking industry,” CBSL Governor Ajith Nivard Cabraal
said, addressing the gathering.
Notably, the tech evolution brought about by the HNB – Singer partnership supports the CBSL’s
LANKAQR ‘Janagathakaranaya’ campaign to ensure all QR code-based transactions are standardized
and interoperable, facilitating faster, secure and low-cost digital payments to merchants.
The new tech eliminates the need to manually enter the payment value, increasing customer
convenience and avoiding errors. This allows customers using an app linked with the LANKAQR
initiative to make contactless purchases at stores by simply scanning the Dynamic QR, which appears
on the display screen of the Point of Sale (PoS) machine.
“Even though the pandemic drove the initial conversion to QR based payments, we have
experienced a new wave of customers coming on board for the added convenience and reliability
offered by platforms like HNB SOLO. Digital wallets connected to LANKAQR have opened up new
market segments which are rapidly gaining traction. HNB is uniquely positioned to drive this
expansion given our robust tech infrastructure. Dynamic QR is another milestone in our digital
transformation journey, and we are delighted to launch this partnership with an organization of the caliber of Singer Sri Lanka with the patronage of the CBSL,” HNB Managing Director /CEO Jonathan
Alles said.
The innovation is also beneficial to merchants as the integration of HNB’s system with the
merchant’s cash PoS results in real-time confirmation of the purchase credited to the merchant’s
account. Additionally, the transaction fee that the merchants are levied for using the ‘LANKAQR’
platform is significantly lower than the fee charged by international debit/credit card brands.
Moreover, the partnership will enable all Sri Lankans, including customers of other banks, to
complete transactions with Dynamic QR codes.
“The challenging conditions brought on by the pandemic has tested us all in unique ways, and each of
us has had to find ways to adapt to the new normal. As Sri Lanka’s undisputed leader in consumer
durables, we understand the value of providing our customers with every convenience possible. The
addition of Dynamic QR codes represents the latest in a long series of innovations introduced by
Singer, that leverage technology in order to make the lives of our customers easier and better,”
Singer Sri Lanka Chairman Mohan Pandithage said.
A subsidiary of Hayleys PLC, Singer (Sri Lanka) PLC is a leader in consumer durables and renowned
for offering a wide range of top-quality local and international brands. With over 430 retail outlets, a
strong dealer network and an E-commerce platform, Singer Sri Lanka has a portfolio of over 50
renowned brands.
With 254 customer centres across the country, HNB is one of Sri Lanka’s largest, most
technologically innovative banks, having won local and global recognition for its efforts to drive
forward a new paradigm in digital banking. Consolidating its reputation for banking excellence, HNB
bagged the Best Retail Bank and Best SME Bank awards in the Banking category at the International
Finance Awards 2021. The bank was also ranked among the World Top 1,000 Banks list compiled by
the prestigious UK-based Banker Magazine for five consecutive years. HNB was also declared Best
Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020. HNB has a national rating of
AA- (lka) by Fitch Ratings (Lanka) Ltd.

CBSL Governor, Ajith Nivard Cabraal (center) with HNB MD/CEO, Jonathan Alles (third from left) and Singer Sri Lanka Chairman, Mohan Pandithage (third from right) with (from left) HNB DGM- Retail and SME Banking, Sanjay Wijemanne, CBSL Assistant Governor, Dharmasiri Kumarathunga, Singer Group CEO/ Director, Mahesh Wijewardene and Singer Board Director, Sarath Ganegoda at the ceremony.

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