CDB first non-banking financial institution to partner with Visa in Sri Lanka

Citizens Development Business Finance PLC (CDB) recently entered into a partnership with Visa International as an Associate Member through Commercial Bank of Ceylon PLC to offer Visa Debit cards in Sri Lanka.

The agreement was signed recently at CDB’s Head Office in Colombo, becoming the first ever Sri Lankan non- banking financial institution to tie-up with Visa to offer debit cards in Sri Lanka.

VISA International, India Associate Director-Business Development Nidhi Jakhodia (right) shakes hand with CDB Director/Chief Operations Officer Roshan Abeygoonawardena. Others from left are  CDB AGM IT Imdaad Naguib, Debit Cards Consultant Nalin Wijeratne and CDB Head of Card Operations Chameera Kulatunga

“CDB, as always, strives to offer the best value to all its customers. With time being a precious commodity and with customers expecting an unparalleled service with regards to their day-to-day transactions of funds, this partnership offers the most convenient solution. Since we are the first in the industry to offer this service through VISA International and with our parallel implementation of a core banking solution, it will no doubt create a competitive advantage for us to deliver a superior service to our customers,” said CDB AGM IT Imdaad Naguib.  

“CDB Visa Debit Cards will offer our customers far more convenience than either an ATM card or cash. Carrying the Visa debit card reduces the need for trips to the ATM, by enabling fast, cash-free transactions at millions of locations across the world.

These include supermarkets, restaurants, pharmacies, gas stations, clothing retailers, electronic stores and more.

As well as offering a simpler way to pay, it gives customers 24-hour access to their money, whenever they need it,” he further added.   

Visa Group Country Manager, India and South Asia Uttam Nayak said, “Visa welcomes CBD, our first non-banking financial institute, as our esteemed member from Sri Lanka.They will play an essential role in providing many more Sri Lankan citizens the benefits of electronic payments, especially through the Visa Debit card. I am confident that going forward our partnership will provide great value to Sri Lanka, by further strengthening their cashless economy.”  

With 44 online connected outlets, the brand CDB ranks 50th from among the top 100 Most Valuable Leading Brands in Sri Lanka by Brand Finance Lanka in 2012.