Friday Dec 13, 2024
Friday Dec 13, 2024
Saturday, 22 December 2018 00:00 - - {{hitsCtrl.values.hits}}
Commercial Bank Head of Card Centre Thusitha Suraweera and Fashion Bug Director Shabier Subian exchange the agreement in the presence of (from left): ComBank Card Centre Junior Executive Officer Wishan Fernando, Card Centre Manager Kalinga Divaratne and Fashion Bug Director Aqeill Subian
Shoppers at 15 Fashion Bug outlets can now get onboard with the trendiest ‘tap and go’ technology, thanks to Near Field Communication (NFC) enabled point-of-sale (POS) terminals installed at these outlets by the Commercial Bank of Ceylon.
They can simply tap their Visa or Mastercard Cards on these NFC-enabled terminals to carry out payments and need no longer even hand over their cards to outlet staff.
The first to launch internationally-valid NFC-enabled Chip & PIN Credit Cards in Sri Lanka, Commercial Bank already has 5,000 such terminals installed at retail outlets around the country. This facility increases customer satisfaction by cutting down the time of standing in queues and eliminating the need for signatures for purchases below Rs. 5,000. The technology also improves the security of each transaction by offering maximum protection against the skimming or cloning of cards and against counterfeit transactions.
NFC is a set of communication protocols that enable the chip mounted on the Credit Card to establish contactless communication with the NFC-enabled point-of-sale unit, by bringing the two within about four centimetres of each other.
Fashion Bug commenced operations in 1994 as a partnership business between four partners and a staff of just 15. Today, with 17 stores throughout the country and a workforce of over 1,250 employees, Fashion Bug stands among the leading clothing stores in Sri Lanka. A truly Sri Lankan brand, Fashion Bug empowers over 2,000 small and medium sized Sri Lankan entrepreneurs, and takes pride in providing the latest clothing, accessories and household product designs to the ever-changing modern consumer.
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. The Bank offers a variety of Credit Cards in the Classic, Gold and Platinum tiers of Visa, Mastercard and UnionPay cards, as well as Visa Signature, World Mastercard, Visa Infinite, and UnionPay Diamond cards in the premium segment. The cards are equipped with ‘Tap n Go’ NFC technology and are backed by a strong NFC point-of-sale 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 1,000 banks for eight years consecutively, Commercial Bank operates a network of 263 branches and 800 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and 20 international awards in the first eight months of 2018.
