BOC partners UnionPay to accept QR Code Payments
Bank of Ceylon (BOC) has partnered with UnionPay International (UPI) to offer UnionPay QR code payment service in Sri Lanka. UnionPay is the first global card scheme to partner with BOC to enable QR code payment service in Sri Lanka, BOC announced.
With this collaboration, Bank’s merchants with LANKAQR QR will also accept UnionPay QRC, enabling UnionPay App holders to make QR payments in Sri Lanka. Anyone, who has a wallet with UnionPay QRC enablement can scan the Bank of Ceylon QR code at merchant locations and pay for goods and services.
“As the largest Bank in Sri Lanka, we are proud to join with the global card Scheme, UnionPay for introducing QR Code payments enabling all BOC SmartPay QR merchants to accept payments from any tourist or foreigner with UnionPay enabled QR App,” stated the General Manager, Bank of Ceylon, K E D Sumanasiri at the launching ceremony held in par with the bank’s 82nd Anniversary.
“With this new facility, SmartPay App will be more popular among our merchants and the leading position secured by us in QR Transactions in Sri Lanka will be improved further. So, this would be a good opportunity for both BOC and UPI to improve their business turnover and market share and enhance the digital footprint in Sri Lanka’’
“Any customer who has the capability of using UnionPay QRC will be able to perform transactions more easily and conveniently to merchants who accept QRC payments in Sri Lanka. This fully reflects UPI’s support for local supervision and is believed to be conducive to Sri Lanka’s economic recovery after the COVID-19 pandemic” said Michelle Shao, General Manager of UPI HK Branch, joining the event virtually from Hong Kong.
“We are very keen to further expand the relationship with BOC in the near future to enhance the payment industry in Sri Lanka.”
The UnionPay QRC is generated in conformity with EMVco standards and in accordance with guidelines provided by UnionPay.