CB, ICTA to de­velop new pay­ment plat­form un­der ex­ist­ing laws

Daily Mirror (Sri Lanka) - - LATE CITY -

The Cen­tral Bank is now in­volved in the de­vel­op­ment of a new Na­tional Pay­ment Plat­form (NPP) for dig­i­tal fi­nan­cial trans­ac­tions un­der ex­ist­ing leg­is­la­tion, af­ter re­cent ef­forts to set up the plat­form out­side the purview of the Cen­tral Bank hit a brick wall.

Telecom­mu­ni­ca­tion and Dig­i­tal In­fra­struc­ture Min­istry Sec­re­tary Was­an­tha De­shapriya, speak­ing to Mir­ror Busi­ness said his min­istry and its tech­nol­ogy im­ple­men­ta­tion unit, the In­for­ma­tion Com­mu­ni­ca­tion Tech­nol­ogy Agency (ICTA), are in the process of sub­mit­ting a proposal to the Cen­tral Bank.

“It is be­ing re­vis­ited by the Min­istry and ICTA and we are mak­ing sure that we will be sub­mit­ting an ap­pli­ca­tion to the Cen­tral Bank. The Cen­tral Bank will then go by the Pay­ment and Set­tle­ment Sys­tems Act and get in, and put it in their frame­work. That is the plan,” he said.

He was speak­ing on the side­lines of the se­cond Sri Lanka Broad­band Fo­rum jointly or­ga­nized by his min­istry and the Chi­nese ICT man­u­fac­tur­ing and ser­vice provider Huawei, in Colombo, yes­ter­day. Ac­cord­ing to De­shapriya, there is al­ready a ro­bust line of com­mu­ni­ca­tion be­tween ICTA and the Cen­tral Bank for the de­vel­op­ment of a new NPP.

He said that the Cen­tral Bank and ICTA will start re-ten­der­ing for ser­vice providers to de­velop the new NPP.

“The orig­i­nal setup will not be im­ple­mented. They (Cen­tral Bank) want to restart it,” De­shapriya said. The orig­i­nal NPP de­vel­op­ment process had started in mid-2015, and over the course of the past two years three IT ser­vice providers had been cho­sen as fa­cil­i­ta­tion part­ners to de­velop the con­sumer end of the plat­form, while another lead­ing IT com­pany was cho­sen to build the core NPP.

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