The Sri Lanka Interbank US Dollar On-line Payment System is yet another payment product introduced by LankaPay with the aim of assisting the Central Bank of Sri Lanka (CBSL) and the economy by curtailing the foreign exchange outflow from the country when processing US Dollar transfers.

Prior to the introduction of the USD On-line Payment System, any domestic interbank USD transfer needed to be convened via a Nostro account of the corresponding bank in New York.

However, with the introduction of the Sri Lanka Interbank US Dollar On-line Payment Facility, domestic USD transactions can now be routed locally, resulting in a drastic decrease in transaction processing fees.

Additionally, this online clearing facility is a much faster and a more convenient option of clearing USD drafts and Cheques, of which the clearing process is handled by LankaPay.