DFCC Bank Announces UnionPay Acceptance Across ATM/CRM Network

Continuing to lead the way in enhancing financial inclusivity through digital innovation, DFCC Bank has announced that its ATM/CRM network now accepts UnionPay International cards via the LankaPay Network. This latest development follows the Bank’s earlier integration of UnionPay acceptance through its Internet Payment Gateways (IPGs) and POS terminals. In extending UnionPay acceptance to its ATM and CRM network,DFCC Bank expands its acceptance footprint, catering to a broader customer base. This includes tourists, business travellers, and residents from regions such as China, Russia, Hong Kong, and other key markets.

This strategic move thus reinforces the DFCC Bank’s leadership in digital banking while helping to support the country’s economic revival by facilitating seamless financial transactions for international visitors. As Sri Lanka’s economy prepares for growth and aims to tap into increasing tourism, DFCC Bank’s partnership with UnionPay positions it as a key player in driving the nation’s financial ecosystem forward.

Chief Digital Officer at DFCC Bank, Omar Sahib, highlighted the significance of this development, “This strategic initiative not only bolsters the influx of tourism, investments, and business travel from China and other key markets but also aligns with DFCC’s commitment to delivering seamless digital banking experiences. By incorporating UnionPay International — one of the largest card brands globally—DFCC continues to contribute to Sri Lanka’s economic growth.”

Speaking of this collaboration, Deputy CEO of LankaPay, Dinuka Perera, said, “We are delighted to have DFCC Bank as the 2nd Bank to accept UnionPay International cards via the LankaPay network. Being a top tourist destination with a considerable number of tourist arrivals from China and other key markets in the Asia Pacific region, this collaboration will no doubt provide greater convenience to UnionPay Cardholders visiting Sri Lanka. We believe our collective efforts will invariably help revive the country’s economy by providing a seamless payment infrastructure for cross-border payments. ”

DFCC Bank’s integration of UnionPay at its ATMs and CRMs clearly reflects its purposeful approach to advancing financial inclusion through digital enablement. The Bank’s ambition to broaden its merchant acceptance network and its instrument acceptance portfolio, which now includes UnionPay, MasterCard, Visa, and JCB International, will enable it to serve an increasingly diverse clientele. DFCC Bank thus remains committed to its goal of driving financial inclusivity and digital transformation, making it easier for local and international customers to conduct transactions confidently and efficiently.

Pradeepan Sivalingam - AVP Digital Banking & Strategy, DFCC Bank; Vindya Solangarachchi - Chief Information Officer, DFCC Bank; Omar Sahib Chief Digital Officer, DFCC Bank; Aasiri Iddamalgoda Senior Vice President/Head of Retail Banking & SME, DFCC Bank; Dinuka Perera - Deputy Chief Executive Officer, LankaPay; Crispin Wijesekera - Country Manager, Sri Lanka & Maldives, UnionPay International; Sameera Rowel - Head of Products and Business Development, Sri Lanka and Maldives, UnionPay international; and Arouf Samoon - Head of Marketing & Branding Sri Lanka and Maldives UnionPay International.

About DFCC Bank

DFCC Bank is a full-service commercial bank with a rich history of 68 years and offers a diverse range of commercial and development banking services. As part of its Sustainability Strategy 2020-2030, the Bank aims to become a leading institution contributing to greater resilience by creating resilient businesses and supporting green financing and sustainable, socially responsible entrepreneurship. The Bank has received numerous accolades, including being named the’Most Trusted Retail Banking Brand' and the ‘Best Customer Service Banking Brand’ in Sri Lanka in 2021 by Global Brands Magazine UK and ‘Market Leader and Best in Service in Cash Management 2022’ by Euromoney. Additionally, DFCC Bank is ranked among Business Today’s Top 40 Corporates in Sri Lanka, is rated A- (lka) by Fitch Ratings Lanka Limited and is regulated by the Central Bank of Sri Lanka. Attesting to its commitment to sustainability, DFCC Bank is also the first, and presently only, entity in Sri Lanka to have received accreditation from the Green Climate Fund (GCF), granting it access to concessionary funding worth USD 250 million to support climate mitigation and adaptation projects across the Island.

About LankaPay

Incorporated in 2002, LankaPay is Sri Lanka’s National Payment Network. With a multitude of digital payment solutions, the entity facilitates domestic interbank payments and settlements under the guidance of the Central Bank of Sri Lanka. Being one of South Asia’s most progressive payment networks, LankaPay has been the first to introduce many payment technology innovations in the region. Owned by the Central Bank of Sri Lanka and all licensed commercial banks in the country, the entity is regarded as one of the best public private partnerships in the region.

Making its debut into real time payments, LankaPay launched the Common ATM Network in 2013 which now connects over 99% of all ATMs in the country with the participation of 29-member financial institutions operating in the country. The system facilitates over 12 million domestic interbank ATM transactions monthly now.