The Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to have its point-of-sale (POS) network accept LankaPay-JCB (Japan Credit Bureau) co-branded cards issued under the national card scheme programme.
This follows the integration of Commercial Bank and the LankaPay Common POS Switch System enabling the Bank to acquire JCB cards, the only international payment brand originating from Japan. The POS machine network of Commercial Bank will gradually be upgraded to accept both LankaPay-JCB co-branded cards issued by local banks and JCB cards issued internationally, the Bank said.
Consequently, holders of LankaPay-JCB co-branded cards and JCB card holders will be able to perform both contact and contactless transactions using Commercial Bank’s POS devices in Sri Lanka. Notably, Commercial Bank currently enables point-of-sale acquisition of Visa, MasterCard, and UnionPay cards, and also provides WeChat Pay and Alipay QR code based acquiring services, offering the highest number of payment acceptance channels from a single system to merchants.
JCB is the only international payment brand based in Japan and has been committed to expanding its international presence since 1981. It offers a suite of high-quality products and services that meet the diverse needs of its customers worldwide. Today it has 123 million card members, including payment related product users, and operates in 22 countries and territories.
The only Sri Lankan Bank to be ranked among the world’s top 1000 banks for eight years consecutively, Commercial Bank operates a network of 266 branches and 845 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and over 40 international and local awards in 2018.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay PyiTaw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.