/ Democratic Socialist Republic of Sri Lanka
Our history in Sri Lanka dates back to 2012 as the business processing and operations hub for Paycorp Australia & New Zealand, supporting over 6,500 direct merchants and acquiring banks in Australian & New Zealand. Bancstac acquired Paycorp Sri Lanka in 2019 and today proudly deploys our technology infrastructure within 60% of licensed card acquiring banks in the country including Sampath Bank, Hatton National Bank, Commercial Bank of Ceylon, DFCC Bank (acquired Standard Chartered Sri Lanka in 2025), and Nations Trust Bank (acquired HSBC Sri Lanka in 2025).
Your first payment interaction with Sri Lanka will likely be a Bancstac hosted experience. Through our strategic bank partners, we securely process payments for the government of Sri Lanka. Apply for your mandatory travel Visa before arriving in beautiful Sri Lanka. Take a tour of the countryside and book your railway adventure. Explore world famous heritage sites such as Sigiriya, an ancient rock fortress, Galle Museum, the oldest Dutch building of the Galle Fort constructed in 1656 showcasing arms and weapons used by Dutch soldiers, obtain your access rights to these and many more. Hike through national parks and book a wildlife bungalow through the Department of Wildlife Conservation. Your expedition to Sri Lanka awaits!
Mobile telecommunications is a critical backbone to the development of an efficient digital economy. Our partnership with Hutch, a leading mobile operator and subsidiary of Hong Kong-listed Fortune 500 conglomerate, CK Hutchison Holdings, will see us continue to support the development and growth of mobile payments in Sri Lanka which is projected to grow at a 20% CAGR from US$6.5 billion in 2023 to US$13.8 billion by 2027.
We support the logistics sector which plays a critical role in the economic growth of the country by enabling payments for global movement of goods through DHL and UPS.
Bancstac continues to support the sustainable growth and economic prosperity of the country by investing in, and building, payment infrastructure which delivers cost-efficient technology solutions for our bank partners. We nurture local talent and support the communities we touch by making it easier to participate competitively in global trade.
Overview
Sri Lanka is an island country located in South Asia, situated in the Indian Ocean to the southwest of the Bay of Bengal and to the southeast of the Arabian Sea. It is separated from the Indian subcontinent by the Gulf of Mannar and the Palk Strait, sharing a maritime border with India and the Maldives. Sri Lanka covers an area of approximately 65,610 square kilometers and has an estimated population of 21.9 million as of early 2026. The country is a semi-presidential representative democratic republic divided into nine provinces: Central, Eastern, North Central, Northern, North Western, Sabaragamuwa, Southern, Uva, and Western.
In 2025, the GDP reached approximately US$89.5 billion, and per capita GDP was US$4,080. Sri Lanka's economy is dominated by the service sector, which accounts for c.60% of its GDP, including trade, transport, and financial services. Private consumption and a recovering industrial base are the primary drivers of economic growth following recent debt restructuring efforts. The country’s economy is integrated into global value chains through its strategic maritime location and apparel exports. Its largest trading partners are the United States, India, the United Kingdom, Germany, and Italy. Sri Lanka produces significant export commodities including textiles and garments, tea (Ceylon tea), rubber products, and various spices like cinnamon. The information technology and business process outsourcing (IT-BPO) sectors are also expected to be major growth drivers. Additionally, the tourism sector has experienced a robust recovery, contributing c.12.5% to the GDP in 2025 with over 2.4 million arrivals. The country's industrial sector represents approximately 26% of its GDP and employs about 27% of the workforce. However, challenges remain regarding external debt sustainability, inflation management, and energy sector reforms. Imports of refined petroleum, textiles (for garment processing), and machinery are among the highest in the country, with its top import partners being India, China, the United Arab Emirates, and Singapore.
Sri Lanka has a documented history spanning over 3,000 years, with evidence of prehistoric settlements dating back at least 125,000 years. The country transitioned from a British colony (Ceylon) to an independent nation in 1948. Despite enduring a 26-year civil war that ended in 2009 and a severe economic crisis in 2022, Sri Lanka has shown resilience, working toward economic stabilization and sustainable growth through structural reforms and IMF-supported programs.
Strategic bank partners
Bancstac is a core technology partner to banks which further enhances their integrated payment gateway capabilities. To begin accepting payments through UnionPay International, Visa, Mastercard, real time account-to-account and more (all powered by Bancstac), please contact your Sampath Bank, DFCC Bank, Hatton National Bank, or Commercial Bank representative for details.
Once approved by your relationship bank, you can apply to Bancstac for seamless enablement of American Express, Discover Network and Diners Club International. Uniquely, your existing bank statements will consolidate all payment transactions for automated reconciliation and accounting purposes. Existing merchants of Sampath Bank (apply here), DFCC Bank (apply here), Hatton National Bank (apply here), and Commercial Bank of Ceylon (apply here). Alternatively, please contact your Nations Trust Bank representative for details on how to enable American Express, Discover Network and Diners Club payment methods through Bancstac.
USD settlements and refunds avilable for 30+ digital wallets across 12+ countries including People’s Republic of China (UnionPay, Alipay, WeChat Pay, MPay), Singapore (Grab Pay, OCBC, ezlink, Changi Pay, bigpay), Vietnam (Zalo Pay), Malaysia (Boost, MyPB, Touch’n Go), Indonesia (Akulaku PayLater, DOKU, DANA, Kredivo), Thailand (K+, Line Pay, True Money), Pakistan (Naya Pay), Kazakhstan (Kaspi.kz), Mongolia (Hi-Pay), Philippines (BPI, GCash, Hello Money, Maya, Bill Ease), South Korea (Naver Pay, Toss Pay, Kakao Pay), Italy (Tinaba), EU (Bluecode), and others
Important information regarding American Express, Diners Club and Discover Network payment acceptance.
Seamless enablement of American Express, Discover Network and Diners Club acceptance is available to existing merchants of the following banks: Sampath Bank merchants (apply here), DFCC Bank merchants (apply here), Hatton National Bank merchants (apply here), and Commercial Bank merchants (apply here).
Paycorp International, a wholly-owned subsidiary of Bancstac (“Bancstac”), is solely responsible for determining the eligibility of and enabling businesses to accept online payments using American Express, Diners Club and Discover Network cards (“Amex”). Sampath Bank, DFCC Bank and Hatton National Bank are not involved in determining the eligibility of or enabling the acceptance of Amex payment transactions. All payments transactions using Amex cards from a merchant which has been determined to be eligible and enabled by Bancstac, are processed by Bancstac. Bancstac has nominated Sampath Bank, DFCC Bank, Hatton National Bank, and Commercial Bank of Ceylon to be the settlement banks for Amex transactions.