The Commercial Bank of Ceylon has announced that its Point-of-Sale (POS) devices have been enabled to accept contactless payments via ‘QuickPass’ – the Near Field Communication (NFC) technology of UnionPay cards.
With this development, holders of NFC-enabled UnionPay cards and Mobile QuickPass linked with UnionPay cards can make convenient and secure contactless payments at any merchant that has a ComBank Android Smart Terminal, and purchases below the value of Rs 7,500 will not require a PIN or a signature, the Bank said.
Commercial Bank is one of the leading Android POS device providers in the country and is also the exclusive issuer of UnionPay Cards in Sri Lanka. The Bank’s all-in-one POS devices allow the processing of transactions via all leading card brands in the world, including UnionPay and other card schemes as well as QR-based wallet payments. They offer customers a frictionless and cashless payment experience and drastically reduce the waiting time at checkout counters. The devices are equipped to accept EMV/Chip, Magstripe, NFC and QR-based transactions, offering customers the convenience of paying via the platform of their choice, quickly and securely.
UPI is a subsidiary of UnionPay focused on the growth and support of UnionPay’s global business. In partnership with more than 2,400 institutions worldwide, UPI has enabled card acceptance in 180 countries and regions with issuance in 70 countries. UPI provides high quality, cost effective and secure cross-border payment services to the world’s largest cardholder base, and ensures convenient local services to a growing number of global UnionPay cardholders and merchants.
Positioned as the most advanced Android POS device in the country, the Android Smart Terminal issued to merchants by Commercial Bank supports the highest number of payment options available in Sri Lanka. It also supports QR-based payments of LANKAQR, UnionPay QR and other card schemes.
Credit and Debit Cards issued by Commercial Bank offer year-round promotions covering a wide variety of services. Commercial Bank was the first bank to offer loyalty rewards for both Credit and Debit Card holders under its Max Loyalty Rewards Points scheme. The Bank was also a pioneer in extending promotional discount offers which were traditionally only offered for Credit Cards to its Debit Cards.
Sri Lanka’s first fully carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 11 years consecutively, Commercial Bank operates a network of 268 branches and 931 automated machines in Sri Lanka. The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.