UPay Payments Platform [the “Platform”] is being acquired by Sanasa Development Bank PLC. [“SDB”], a licensed specialised bank approved by the Central Bank of Sri Lanka. It is anticipated that the acquisition will be completed by the 10th of June 2019. While the ‘UPay’ brand name will remain, the entirety of the operation and ownership of the Platform will be taken over by SDB upon completion of the acquisition. Payment Services (Pvt) Ltd. is working closely with SDB to ensure a smooth transition and continuity in the operation of the Platform. There may however be temporary interruptions and disruptions to the UPay services during the process of migration of operations from Payment Services to SDB. We sincerely regret any inconvenience that may be caused to you in this regard.
The Merchant Agreement and Registration you presently have with us will terminate with effect from 10th June 2019. You will be contacted by representatives of SDB, who will guide you in the event you wish to renew your registration on the Platform under SDB.
We take this opportunity to thank you for your patronage of the UPay Platform and hope that you will continue to use the Platform under its new management.
PAYMENT SERVICES (PVT) LTD.