• Register
Return to: Home > News > Strategy > Bank of Ceylon partners with MasterCard to facilitate faster payments in Sri Lanka

Bank of Ceylon partners with MasterCard to facilitate faster payments in Sri Lanka

Bank of Ceylon (BoC) has partnered with MasterCard to bring faster payment innovation to Sri Lanka.

Using MasterCard’s back-end technology platform known as MasterCard Integrated, BoC plans to launch safer, smarter, and more innovative payment options.

The comprehensive suite of services available through MasterCard Integrated comprises merchant, card and account management tools, customer service support, data and reporting solutions, and fraud and risk services.

The latest move, which also aligns with the Government of Sri Lanka’s digitisation roadmap, comes at an appropriate time when the government is encouraging businesses and consumers to adopt cashless payments for more of their day-to-day transactions.

Commenting on the partnership, MasterCard executive director for South Asia Vikas Varma said: “We are delighted to support Bank of Ceylon with their payment processing needs.

“MasterCard Integrated is a configurable payments processing platform that enables issuers and acquirers to leverage MasterCard’s global technology to meet consumers’ ever-changing payments needs and deliver innovative solutions locally.

“Bank of Ceylon has deep knowledge of the Sri Lankan market and have a penchant for innovation and customer service. We look forward to creating a robust, safe and secure digital payments ecosystem by bringing digital payments products to market quickly and efficiently.”

Top Content

  • Nets partners Chainalysis to facilitate validation of virtual currencies

    Danish payments processor Nets has joined forces with distributed ledger technology provider Chainalysis to help banks validate virtual currencies such as bitcoin and comply with anti-money laundering rules.

    read more
  • Hearsay rolls out new enterprise compliance platform

    US-based financial technology provider Hearsay has unveiled the next generation of its enterprise compliance platform to better counter social and digital risk.

    read more
  • UBS deploys electronic signature service

    Swiss banking giant UBS has deployed the Qualified Electronic Signature (QES) service from Cryptomathic and SwissSign to strengthen security and control of its document management.

    read more
  • SIX Payment Services taps IBM technology to boost cyber security

    SIX Payment Services has selected IBM Watson for Cyber Security to develop a next-generation Security Operations Center (SOC) in order to boost cyber defence and provide customers security services for compliance with Swiss privacy and financial market regulations.

    read more
  • Scotiabank, Cardtronics extend ATM deal at 7-Eleven Canada stores

    The Bank of Nova Scotia (Scotiabank) has extended its ATM branding agreement with Cardtronics to give its customers surcharge-free ATM access at over 640 Scotiabank-branded ATMs at 7-Eleven Canada stores across Canada.

    read more
Privacy Policy

We have updated our privacy policy. In the latest update it explains what cookies are and how we use them on our site. To learn more about cookies and their benefits, please view our privacy policy. Please be aware that parts of this site will not function correctly if you disable cookies. By continuing to use this site, you consent to our use of cookies in accordance with our privacy policy unless you have disabled them.