Point-of-Sale (POS) terminals deployed by the Commercial Bank of Ceylon at retail outlets across Sri Lanka have shown exponential growth in cashless payment volumes, thus becoming the fastest growing POS network in the country, the Bank reports. Commenting on this achievement by the Bank’s POS network, the Head of Commercial Bank’s Card Centre Mr Thusitha Suraweera said: “Our technology motivates merchants and customers alike to opt for cashless transactions. We hope to change this dynamic, by widening access to cashless transactions that are secure and convenient.”Commercial Bank recently launched Sri Lanka’s first LANKAQR supported Android operating system based POS device to facilitate cashless payments at merchant outlets countrywide. The inclusion of NFC technology enables contact-less transactions for customers with payment processing via just a tap on the terminal. 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.

Source: The Nation November 05, 2020 15:33 UTC