Merchants from Galle to Jaffna open their doors to one of the world’s largest card networks
As one of Sri Lanka’s largest state-owned banks completes one of the country’s largest UnionPay acquiring deployments, merchants from Galle to Jaffna open their doors to one of the world’s biggest card networks – and a new chapter in the Bank’s digital banking journey.
People’s Bank has switched on UnionPay acquiring across its full network of more than 14,000 point-of-sale (POS) terminals, the Bank announced recently. With the activation, the Bank’s merchant partners – from leading supermarkets and hotel chains to fuel stations, pharmacies and small neighbourhood retailers – can now accept UnionPay cards issued in over 80 markets worldwide.
The deployment is one of the largest single UnionPay acquiring rollouts in Sri Lanka and a flagship milestone in People’s Bank’s digital transformation program.
People’s Bank Chief Executive Officer/General Manager Clive Fonseka said: “This is a defining moment in People’s Bank’s digital journey. For years, our promise to the nation has been access – to credit, to savings, to the formal economy. Today we extend that promise to the world’s cardholders. Every shop, hotel and restaurant on our network is now ready to welcome UnionPay customers from China, Singapore, Malaysia, the Gulf and beyond, with a single tap, swipe or insert.”
A digital bank in step with a recovering economy
The UnionPay rollout caps a multi-year program that has repositioned People’s Bank as one of Sri Lanka’s most progressive digital banking franchises. Recent milestones include:
nModernised core banking platform enabling real-time processing across branches, ATMs and digital channels
nNext-generation mobile banking app with biometric login, cardless ATM withdrawal and instant fund transfers
nQR-based merchant payments rolled out to thousands of small and mid-sized retailers
nContactless and tap-to-pay upgrades on the Bank’s POS estate
nExpanded card and acquiring infrastructure to support tourism, exports and the remittance economy
UnionPay – issued in 80-plus markets and accepted in 180-plus countries and regions worldwide- sits naturally at the centre of that strategy as Sri Lanka welcomes back a record tourism season and renewed foreign investment.
Zero-friction for merchants, instant access for visitors
For the Bank’s 14,000-plus merchant partners, the upgrade is automatic. Existing People’s Bank POS terminals have been enabled with UnionPay acceptance, requiring no additional hardware, no new merchant agreement and no downtime. Settlement, reconciliation and dispute handling are managed centrally by the Bank.
For inbound travellers and overseas Sri Lankans carrying UnionPay cards, the change removes one of the most common frictions in a foreign trip – being unable to pay. A souvenir boutique in Galle Fort, a restaurant in Pettah, a fuel stop in Nuwara Eliya, a hotel in Trincomalee: wherever a People’s Bank terminal is present, UnionPay now works.