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HNB powers real-time online payments to IRD with LankaClear

Sri Lanka’s most digitally-innovative private sector bank HNB PLC, joined hands with LankaClear (Pvt) Ltd. to pioneer the real-time online direct payment facility to the Inland Revenue Department (IRD) through its corporate payment solutions platform PAYFAST.

The partnership offers HNB business clients’ direct access to the IRD 24/7 throughout the year for payments directly from their accounts connected to HNB PAYFAST. The funds will be credited to the Department’s accounts in real-time, with customers provided with a digital proof of payment when the transaction is complete.

HNB PAYFAST is among the most cost-effective digital banking solutions for HNB clients, without any hidden charges, facilitating multiple online transactions by debiting the company’s HNB account and crediting multiple beneficiary accounts at any bank of the user’s choice. Through the convenience of PAYFAST, clients process salaries, supplier and dividend payments, and make EPF/ETF contributions with greater ease.

HNB guarantees that absolute confidentiality is maintained with all transactions and has taken measures to strengthen and upgrade the system’s security features. Internal security experts are regularly consulted to ensure that user data and privacy is not compromised.

HNB offers various digital solutions to all customers and their businesses, which has earned them the acclaimed title of “Partner in Progress.” The bank caters to a wide range of businesses, including SMEs, emerging corporates, and high-end corporate brands, with the latest in digital banking technology.

Aligning with this vision, PAYFAST is aimed at improving digital banking opportunities for all customers to promote their integration into a technologically advanced economy.

With 252 customer centres across the country, HNB is one of Sri Lanka’s largest, most technologically innovative banks, having won local and global recognition for its efforts to drive forward a new paradigm in digital banking. The bank was also ranked among the World Top 1,000 Banks list compiled by the prestigious UKbased Banker Magazine for five consecutive years. HNB has a national rating of AA- (lka) by Fitch Ratings (Lanka) Ltd.

HNB was also declared Best Sub-Custodian Bank in Sri Lanka at the Global Finance Awards 2020, in addition to winning the coveted Best Retail Bank in Sri Lanka Award for the 11th time at the Asian Banker Awards 2020, in recognition of its sustainable growth and continuous improvements in processes, products and services amidst a challenging macroeconomic environment.