SDB bank launched P2P QR Payment Acceptance via UPay Digital Wallet

27-April-2026

In a move aligned with the Government of Sri Lanka’s National QR Adoption Programme, SDB bank has enabled peer-to-peer (P2P) QR transaction facility through its UPay Digital Wallet, further supporting the country’s transition towards a digitally driven, cash-lite economy.

With this enhancement, any SDB bank customer can generate a personal QR code via UPay to accept payments instantly. Beyond acceptance, UPay users can also make payments by scanning P2P QR codes generated from any compatible payment app across the country, with transactions up to Rs. 5,000 carried out free of charge for both customers and merchants—making UPay a convenient and cost-effective solution for everyday payments.

The initiative is designed to simplify digital payments at an individual level, offering a secure and convenient alternative to cash without the need for point-of-sale devices or additional infrastructure. By linking an existing SDB bank account to UPay, customers can generate a QR code within minutes and enjoy a wide range of digital payment and transfer capabilities through a single platform.

Industry analysts note that such developments play a pivotal role in expanding QR payment adoption beyond conventional merchant spaces, empowering individuals, freelancers, and small-scale service providers. By removing transaction costs and reducing operational barriers, banks are increasingly driving the acceptance of QR payments as a mainstream mode of payment for low-value, high-frequency transactions.

Commenting on the initiative, Dinesh Thomas, Chief Information and Digital Officer of SDB bank, stated that the enhancement aligns closely with the bank’s digital transformation agenda and national priorities, adding:

“As we introduce P2P QR payments, our goal is to level the playing field for vendors of all sizes, enabling even the smallest businesses to accept digital payments and reach more customers. By offering this service free of charge for low value transactions, we are reinforcing our commitment to the national digital payments vision while giving customers a payment experience that is safe, seamless, and future ready.”

UPay Digital Wallet, designed and developed by SDB bank, continues to evolve as a comprehensive digital financial platform, integrating payment acceptance, QR-based payments, and interbank fund transfers under one ecosystem. The introduction of P2P QR capabilities further strengthens the wallet’s value proposition, reflecting the bank’s focus on customer-centric innovation. SDB bank notes that the initiative supports broader national objectives of enhancing financial inclusion and accelerating digital financial literacy, while contributing to reduced cash dependency and increased confidence in secure digital payment mechanisms across Sri Lanka.

SDB bank boiler plate

A future-ready bank, dedicated to offering customer-centric and comprehensive support tailored to each individual's needs, SDB bank is a licensed specialized bank regulated by the Central Bank of Sri Lanka, with a listing on the Main Board of the Colombo Stock Exchange and a Fitch Rating of BB +(lka). Through the network of 94 branches island-wide, the bank provides a comprehensive range of financial services to its Retail, SME, Co-operative, and Business Banking clients across the country. Environmental, Social, and Governance (ESG) principles are deeply ingrained in SDB bank's ethos, with a steadfast focus on uplifting local communities and businesses through sustainable practices. The bank is particularly committed to promoting women's empowerment, sustainable development of SMEs, and digital inclusion, aiming to propel Sri Lanka to new heights.