Home / Financial Services/ BOC commences internet payments with MasterCard Payment Gateway Systems

BOC commences internet payments with MasterCard Payment Gateway Systems

Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 10 April 2019 00:51


Bank of Ceylon’s Deputy General Manager M.J.P. Salgado (centre left) and MasterCard Country Manager Sri Lanka and Maldives R.B. Santosh Kumar (centre right) after signing the MoU related to MPGS. The bank’s Assistant General Manager Electronic Banking K.T.A.E. De Silva and Head of IT M.M.L. Perera are also present

Bank of Ceylon together with MasterCard International partnered to introduce internet payment gateway facility which is an essential feature for ecommerce sites where products or services are directly sold to customers. The bank proudly annouced that the bank’s IPG hosted by MPGS (MasterCard Payment Gateway Systems) with its latest version has been implemented successfully. 

MPGS provides a global eCommerce solution which is safe, secure and innovative with an extensive range of built-in features and value added services. It is used by many banks all over the world and supports  billions of online transactions annually.  

“BOC IPG enables both Government and private institutions to reach a wider customer base and increase the business turnover providing instant access into new markets and geographies. It offers a seamless shopping experience for both local and overseas customers making online payment much easier,” Stated Deputy General Manager Product and Banking Development M.J.P. Salgado.

“BOC IPG facilitates merchants to accept multiple payment brands in multiple payment channels using a wide range of digital payment methods from computer to mobile phone and supports multiple currencies. Advanced features of fraud and risk management in BOC IPG offer an option for merchants to keep sensitive card data away from a merchant’s system securely. This will reduce the PCI compliance burden of merchants.  It further supports 3D secure verification processes  using  ‘Verified by Visa’ and ‘MasterCard Secure Code’. This brodens the customers freedom of making online payments securely at any eCommerce site partnered with BOC IPG,” he added.

Merchants do not face any hassle in integrating their systems with BOC IPG which is fully compatible with any type of web platform. Third party service providers in airlines, hotels and car rentals are also able to easily integrate with BOC IPG. Enrollment process and integration with BOC IPG is so simple and less time consuming. Additional information could be obtained from the Merchnat Acquiring Unit  at BOC Card Centre.

BOC is the pioneer in introducing payment cards to Sri Lanka in 1989. Presently, it maintains strong relationships with Visa International, MasterCard International and China Union Pay and has commenced numerous initiatives to facilitate new developments of payment cards and mobile payments in order to safeguard the interest of general public.

“Mastercard is delighted to partner with Bank of Ceylon on the development and rollout of its internet payment gateway services. Powered by Mastercard Payment Gateway Services (MPGS), it will make safe, secure and innovative online payment processing more accessible to the Bank’s customers. It comes loaded with features and value added services that will allow them to offer their consumers a better shopping experience. Mastercard will continue to work with partners such as Bank of Ceylon to enable greater adoption of digital payments in the island,” said Mastercard Country Manager – Sri Lanka and Maldives R.B. Santosh Kumar.


Share This Article

Facebook Twitter


1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.


Today's Columnists

Industry 4.0, disruptive technology and MAS Matrix: An example for way forward in Sri Lanka

Monday, 16 September 2019

Technology has always been disruptive. When a new technology is introduced, it changes the way the humankind lives, behaves, earns, interacts and communicates. Some 10,000 years ago, when agriculture and animal breeding were domesticated through the

Radically reinvented reality: Relevance to Sri Lanka

Monday, 16 September 2019

I am delighted to be involved in the National HR Conference 2019, the largest HR event in South Asia. This time it is on the theme ‘Radically Reinvented Reality’. We need to take another look at the way we act institutionally and nationally, in u

Boeing in MAX-imum trouble

Monday, 16 September 2019

Boeing, America’s mighty aircraft manufacturer, is in deep trouble. The controversy surrounding the best-selling 737 MAX has refused to go away. The Federal Aviation Administration, the US aviation regulator, has spent over 110,000 hours addressing

Gotabaya Rajapaksa at Viyathmaga: Vision with an authoritarian zeal!

Monday, 16 September 2019

Gotabaya Rajapaksa has unveiled his national strategy or vision as a presidential candidate with an authoritarian zeal. This is clear from his Viyathmaga speech. He should be commended however for his fairly clear expression of views and objectives.

Columnists More