ComBank pioneers credit card settlement via internet payment gateway

Monday, 19 November 2018 00:00 - - {{hitsCtrl.values.hits}}

Breaks new ground enabling credit cardholders to settle balances with any local debit or credit card

The Commercial Bank of Ceylon has introduced another first in online banking in Sri Lanka, making it possible for the bank’s credit card holders to settle outstanding card balances via its Internet Payment Gateway (IPG) using another local bank debit or credit card.

The facility allows Commercial Bank credit card holders to make online payments between Rs. 100 and Rs. 200,000 at a time in settlement of outstanding balances, the bank said.

The bank’s cardholders simply enter their Commercial Bank credit card numbers on the designated web page, followed by a registered email address. They are then re-directed to the Commercial Bank Internet Payment Gateway page on which the details of any local Visa or Mastercard can be fed in to make a payment.

Payments will be instantly updated against the available balance of the Commercial Bank credit card and are secured with 3DS protocol, an additional authentication layer on top of the internet transaction, the Bank said.

With this facility, which is accessible any time of the day or night from anywhere in the world, Commercial Bank credit cardholders need not visit branches or Automated Deposit Machines to settle their outstanding amounts as they can pay their monthly outstanding instantly via the ComBank Online webpage at a nominal fee.

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 Silver, Gold and Platinum tiers of both Visa and Mastercard as well as Visa Signature, World Mastercard and Visa Infinite 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 (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 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 more than 30 international and local awards in 2016 and 2017 and 20 international awards in the first eight months of 2018.