TITLE: Sri Lanka's Central Bank Revises JustPay Transaction Limits and Fee Structure
BODY:
On 20 January 2026, the Central Bank of Sri Lanka (CBSL) Payments and Settlements Department issued Circular No. 01 of 2026 under Section 44 of the Payment and Settlement Systems Act, No. 28 of 2005. The circular revises the maximum per transaction limit and fee structure for JustPay transactions to promote digital payment adoption while protecting customer funds.
The maximum per transaction limit for JustPay has been set at LKR 150,000 per transaction. The circular establishes a tiered fee structure based on transaction value, with fees varying across customer fees, merchant fees, interchange fees, and switching fees. For transactions between LKR 8,000 and LKR 150,000, the customer fee is capped at LKR 20, merchant fee at LKR 40, interchange fee at LKR 18, and switching fee at LKR 8.75. Lower transaction values incur proportionally reduced fees, with transactions of LKR 50 or less attracting a customer fee of LKR 1 and merchant fee of LKR 1.25.
The circular requires all mobile payment application providers to implement adequate security controls and procedures when registering customers and linking current or savings accounts to mobile payment applications. These measures aim to enhance the safety of digital transactions across the JustPay ecosystem.
The circular becomes effective on 2 February 2026. It applies to chief executive officers of licensed banks, licensed finance companies, licensed operators of mobile phone-based e-money systems, and LankaPay (Pvt) Ltd.