November 07, 2024

LankaPay bags Best Public-Private Partnership Award at ASOCIO 2024 Awards in Japan

LankaPay, Sri Lanka’s national payment network, was honoured with the Best Public-Private Partnership Award at the prestigious ASOCIO 2024 Awards, held on November 7, 2024. This was an important agenda item of the ASOCIO Digital Summit 2024 held in Tokyo, Japan. This recognition highlights the success of LankaPay’s unique business model and the importance of collaborating with both government and private sector entities to advance Sri Lanka’s digital financial ecosystem to drive the nation towards a digitally enabled economy.

The ASOCIO Digital Summit 2024, organized by the Asian-Oceanian Computing Industry Organization (ASOCIO), is one of the most influential events in the Asia-Pacific region, bringing together thought leaders, industry experts and government officials to discuss the impact and the future of digital technology innovations. ASOCIO, established in 1984, is a prominent network representing ICT associations across 24 countries in the Asia-Oceania region. The organization aims to promote collaboration, knowledge-sharing and the adoption of digital technologies across the region.

LankaPay’s receipt of the Best Public-Private Partnership Award at ASOCIO 2024 is a testament to the company’s leadership in creating an efficient, resilient and secure digital payment infrastructure in Sri Lanka. Through strategic partnerships with the government, financial institutions, large private sector organizations and SMEs, LankaPay has significantly contributed to enhancing financial inclusion in the country by providing secure, affordable and accessible financial services to every Sri Lankan.

LankaPay has become the cornerstone of Sri Lanka’s digital economy, offering a wide range of services, facilitating real-time interbank payments and enhancing mobile wallets, online banking and contactless payment solutions. LankaPay’s commitment to security has been instrumental in its long-term success. By ensuring the protection of user data and financial transactions via international best-in-class security certifications, the company has built a trusted platform that facilitates secure payments across Sri Lanka. These secure services have empowered businesses, government agencies and individuals across the country to securely carry out both online and on-premise digital financial transactions. LankaPay network has helped bridge critical gaps in financial access, particularly in underserved regions and enabled millions of Sri Lankans to be a part of a digitally enabled economy.

This award recognizes the strength of LankaPay’s collaboration with key stakeholders, including Sri Lanka’s Central Bank, all licensed commercial banks and other government entities. By working together, these organizations have created an inclusive digital payments network that benefits individuals, businesses and the national economy. LankaPay’s success story is one of achieving collective objectives, demonstrating the power of collaboration between the public and private sector to advance financial inclusion and drive economic growth.

ASOCIO’s recognition of LankaPay at the ASOCIO Digital Summit 2024 is a significant milestone in the company’s journey of over two decades and a proud moment for Sri Lanka. The importance of LankaPay’s role in advancing the digital financial services sector in Sri Lanka and setting a benchmark for the region is further highlighted via this award. As a leading regional organization, ASOCIO plays a pivotal role in promoting the growth of ICT and digital technologies across the Asia-Pacific region. Its annual summit serves as an important platform for discussing trends, sharing insights and forging new partnerships in the ever-evolving digital landscape.

As LankaPay looks to its future, the company remains focused on its mission to provide secure, inclusive, accessible and affordable digital financial solutions while expanding to facilitate cross-border financial transactions by partnering with regional payment networks. This would help the country to attract much needed foreign exchange and overcome the current financial crisis. The Best Public-Private Partnership Award is a powerful motivator for LankaPay to continue innovating and expanding its services while advancing its commitment to further strengthening the existing partnerships and continuing to contribute towards driving Sri Lanka towards a digitally enabled economy.