Sampath Bank first in SL to launch weekend and holiday POS settlements for CEYPETCO fuel stations

Friday, 16 May 2025 04:51 - - {{hitsCtrl.values.hits}}

Sampath Bank Managing Director Ayodhya Iddawela Perera (sixth from left) exchanges the partnership agreement with Ceylon Petroleum Corporation Chairman D.J.A.S. De S. Rajakaruna, in the presence of senior representatives from both organisations

Reaffirming its position as a trailblazer in Sri Lanka’s banking sector, Sampath Bank has become the first local bank to launch a next-day POS settlement feature that functions seamlessly across weekends and public holidays.

Introduced in collaboration with the Ceylon Petroleum Corporation (CEYPETCO), this pioneering solution is a national first, tailored specifically for CEYPETCO fuel stations, and sets a new benchmark in merchant acquiring services. The initiative showcases Sampath Bank’s continued commitment to convenience-led innovation and marks a significant stride in enabling operational excellence for businesses across the island.

This transformative settlement feature ensures that CEYPETCO station owners receive card transaction funds in their accounts as early as the next day, regardless of whether the transaction takes place on a weekday, weekend or public holiday. This consistent access to funds allows for better liquidity management and supports the smooth continuation of daily business operations.

Commenting on this milestone partnership, Sampath Bank Assistant General Manager – Card Centre Shiran Kossinna said, “Sampath Bank continues to redefine merchant acquiring services through convenience-led innovation. Our partnership with CEYPETCO demonstrates how the right blend of technology and collaboration can meaningfully transform everyday business operations. Introducing this first-of-its-kind solution in Sri Lanka is not just a milestone for the bank, but also a progressive step toward building a more digitally empowered and financially inclusive economy.”

The new system offers several tangible benefits to CEYPETCO fuel station operators, including improved cash flow that enables smoother operations, lower insurance costs through reduced cash handling risks, and a decreased cost of funds due to quicker access to revenue. Sampath Bank’s POS terminals accept Visa, Mastercard, UnionPay, JCB, and LankaPay credit and debit cards, and are backed by 24/7 technical support along with easy access to transaction details through the bank’s e-statement facility.

In addition to POS settlements, Sampath Bank is the only bank offering real-time crediting of cash and cheque collections as per standard clearing time-lines for CEYPETCO station owners. Available daily until 8 p.m., including holidays, this service ensures immediate access to funds and added convenience through doorstep collection by CBSL-appointed service providers.

This initiative forms part of Sampath Bank’s broader commitment to supporting Sri Lanka’s digital transformation agenda, in alignment with the Central Bank of Sri Lanka’s vision for a cashless, financially inclusive future.

CEYPETCO station operators interested in accessing this facility can contact 0767 922 375 – Suranga Ananda for more information.

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