SDB Acquires UPay Mobile Payment Platform

June, 10, 2019

Sanasa Development Bank has signed a Sales agreement with Payment Services (Pvt) Ltd to acquire UPay mobile payment platform with effect from 10 June 2019, subject to the approval of the Central Bank of Sri Lanka.  


Notifying the Colombo Stock Exchange, the Bank stated that the consideration of the above transaction is approximately Rs.20 Million.


UPay enables to carry out cashless transaction using this application by linking the bank accounts, debit and credit cards.


Moreover, by using this application customers can purchase products and services via their smartphones.