The Commercial Bank of Ceylon extended its wholehearted support to the Colombo launch last weekend of the Central Bank’s initiative to promote cashless digital payments via LANKAQR, the national Quick Response (QR) Code platform.
The Colombo launch event was held at ‘Diyatha Uyana,’ one of the most popular outdoor markets in Sri Jayewardenepura, and was attended by the State Minister of Money, Capital Markets & State Enterprise Reforms Hon. Ajith Nivard Cabraal, Central Bank Deputy Governor Mrs T. M. J. Y. P. Fernando, Central Bank Director Payments and Settlements Mr D. Kumaratunge and several other dignitaries.
Commercial Bank, whose App ‘ComBank Q+’ was the first QR-based payment App to be launched on the LANKAQR platform, offered customers paying for purchases at Diyatha Uyana via ComBank Q+ over the weekend a 20% cashback subject to a daily limit, in support of this promotion. At the same time, The Bank’s sales teams visited retail establishments in Pelawatte and Battaramulla to register more vendors for the ComBank Q+ merchant App, as part of its continuing support to popularising LANKAQR. Customers who purchase from these merchants by using ComBank Q+ will also get the 20% cashback till 31st January, the Bank said.
The first QR code-based App certified by LANKAQR, ComBank Q+ offers options for both retail customers and merchants. All recently launched Point-of-Sale (POS) machines deployed by the Bank are enabled with LANKAQR functionality. The Bank also launched the Flash Digital Bank Account, a revolutionary account that features a complete suite of financial management and financial wellness tools in one seamless application, which is also certified to process transactions under LANKAQR.
Commercial Bank was recognised by the Central Bank for its pioneering efforts in enhancing the digital payments landscape of the country at the launch last year of ‘Mataleta LANKAQR’ – an event held to commemorate the inauguration of the island-wide awareness campaign to promote cashless payments.
Commercial Bank is a pioneer with its extensive efforts to promote digital payments with other related state-of-the-art products and services such as tie-ups with international payment schemes to promote digital payments, digital banking apps and online banking services that promote payments and transactions anytime anywhere as well as with innovations in merchant payments to encourage the use of digital payment methods.
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 10 years consecutively, Commercial Bank, which won more than 25 international and local awards in 2020, operates a network of 268 branches and 885 ATMs and CRMs in Sri Lanka.
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 Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.