The two organisations are set to launch a co-branded debit card, implement AI-driven fraud detection, and facilitate low-cost QR payments for both tourists and merchants.
The Mastercard-LankaPay co-branded debit card is designed to increase digital engagement and promote financial inclusion. Cardholders will gain access to exclusive offers through the “Priceless Specials” platform, as well as benefit from Mastercard’s global travel and lifestyle services. Local banks will have the opportunity to incorporate this card into their current systems.
Mastercard’s Pay Local solution will enable foreign tourists to link their debit or credit cards to the LankaPay app, allowing them to make payments at over 400,000 LankaQR merchants in their home currency.
Additionally, Mastercard will introduce its Brighterion AI technology to the LankaPay network. This tool provides real-time fraud detection by analysing extensive data across various systems. It will deliver a scalable and adaptable security layer to protect ATM transactions and account-to-account transfers.
Representatives from LankaPay stated that this partnership supports its mission to improve financial inclusion. Additionally, it bolsters the tourism sector by simplifying payment experiences for travellers.
In May 2025, ila-Bank partnered with Mastercard to introduce augmented travel products, increasing customer benefits with superior payment solutions.
Through this partnership, the bank aimed to broaden its product offerings and introduced innovative travel and loyalty programs. Among its line-up, ila Bank featured a digital, mobile-only banking experience that had garnered positive feedback both locally and regionally. The bank offered a variety of card products, including debit, credit, and prepaid cards, all of which came with bonus benefits and a personalised loyalty rewards system.
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