ComBank issues UnionPay cards for first time in Sri Lanka

UnionPay cards launch
Deputy General Manager - UnionPay Hong Kong Ms. Michelle Shao (Extreme left), Vice President - UnionPay International Mr. Larry Wang, Commercial Bank Chairman Mr. Dharma Dheerasinghe (2nd from right) and Commercial Bank Managing Director Mr. S Renganathan presenting the first two UnionPay cards issued in Sri Lanka to Mr. Keshav Balasuriya

The Commercial Bank of Ceylon has become the first Bank in Sri Lanka to issue UnionPay Credit and Debit Cards, the card brand with the largest customer base in the world, making Sri Lanka the 51st  market in the world to issue UnionPay cards.

Sri Lanka’s fastest-growing credit card issuer, the Bank said it will offer UnionPay Gold, Platinum and Diamond Credit cards and UnionPay Gold Debit cards, at all Commercial Bank branches countrywide. Debit Card issuance will commence in the latter part of January 2019.

Accepted in 171 countries and regions worldwide, UnionPay cards are particularly useful not only for use in Sri Lanka, but also during overseas travel, especially to those going to the Far East and China, the Bank said.

“We are delighted to be the first bank in Sri Lanka to issue UnionPay Credit and Debit Cards,” Commercial Bank’s Managing Director and CEO Mr S. Renganathan said. “As the country’s largest private bank, we are constantly looking for ways to widen options, enhance convenience and support the lifestyle needs of our customers. UnionPay is a milestone addition to our cards portfolio and we are justifiably excited at the prospect of promoting the brand in Sri Lanka.”

A highlight of using a UnionPay card is that it has a competitive markup fee on overseas spends. According to UnionPay International (UPI), an array of offers and discounts can be enjoyed by UnionPay cardholders globally at a wide range of merchant outlets. This makes the card more attractive to regular travellers.

In Sri Lanka, Commercial Bank’s UnionPay cardholders will be eligible for all existing offers and discounts presented by the Bank throughout the year, at a variety of merchant segments including online shopping, clothing and accessories, dining, hotels, travel, and supermarkets.

Additionally, UnionPay cardholders will also earn ComBank Max Loyalty Rewards points on both Credit and Debit card purchases, the Bank said.

Notably, the Commercial Bank was the first bank in the country to link its ATMs with UnionPay in 2012. Subsequently, the Bank also enabled point-of-sale (POS) usage for UnionPay cards, making it possible for foreign cardholders to pay for purchases at local retailers with these cards. This was done to offer greater convenience to the many leisure and business travellers frequenting the country, especially from China.

UnionPay International (UPI) is a subsidiary of China UnionPay, focused on the growth and support of UnionPay’s global business. In partnership with more than 2,000 institutions worldwide, UnionPay International has enabled card acceptance in 171 countries and regions with issuance in 51 countries and regions. 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.

Commercial Bank cards are the fastest growing cards in Sri Lanka and enjoy market leadership in Credit and Debit Card cumulative point-of-sale usage. Besides UnionPay, the Bank offers a variety of Credit Cards in the Silver, Gold and Platinum tiers of other international card brands.  The cards are equipped with ‘Tap n Go’ NFC technology and are backed by a strong NFC Point-of-Sale (POS) network.

Commercial Bank Credit and Debit Cards 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 Cardholders under its Max Loyalty Rewards scheme. The Bank was also a pioneer in extending promotional discount offers, which were traditionally only offered for Credit Cards to its Debit Cards.

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 830 ATMs in Sri Lanka. The Bank has won more than 30 international and local awards in 2016 and 2017 and 20 international awards in the first eight months of 2018.




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