LB Finance joins Lanka QR network

To strengthen Central Bank’s ‘Digital 2020’ Vision

LB Finance (LBF), country’s leading Non-Banking Financial Institution, recently joined the National Digital Payment platform Lanka QR via its popular mobile wallet LB CIM (Cash-In-Mobile). LankaQR is the national QR standard for local currency payments introduced by the Central Bank of Sri Lanka (CBSL). Following the integration CIM mobile wallet becomes interoperable for all four-transaction types of Lanka QR, enabling its users, to pay and accept payments from other mobile wallets offered by third party Banks and Financial Institutions.

LB CIM smart phone application is available for Android & iOS based devices. It comes in the form of two separate mobile applications; ‘CIM Customer app’ & ‘CIM Business app’, to cater to the specific needs of customers and retail merchants. LB CIM is proud to be one of the few tri-lingual mobile wallets available in the market and champions the concept of simplicity in its UI/UX offering. Company believes CIM’s ultra-simple design gives it an advantage over the completion to become a truly inclusive digital payment solution to Sri Lankan masses.

The CIM customer app serves as an interest-bearing digital savings account (5.5% p.a.), that sits inside the users smart phone and functions as a wallet that can be used at any time to make payments to any Lanka QR merchant by simply scanning the merchant’s QR code. Customers can use the CIM app to link any 3rd party bank account through Just-Pay network and top up their wallet, transfer money instantly to any bank, pay their credit cards, utility bills, mobile reloads thus eliminating the need to go in search of ATMs to withdraw money for daily cash purchases. Existing customers of LB Finance can also use the CIM app to service their loans/leases and inquire fixed deposit details at the convenience of their smartphone.