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August 20, 2019

Commercial Bank of Ceylon taps Euronet to offer QR-based payment app

Commercial Bank of Ceylon has selected the Digital Integrated Payments Cloud (DIPC) technology from Euronet Worldwide to introduce its QR code-based payment app called ComBank Q+ under LANKAQR.

Launched by Sri Lanka’s central bank, LANKAQR is the national QR standard for payments in local currency.

ComBank Q+ leverages open APIs and the microservices architecture of DIFC for its QR code engine.

Commercial Bank of Ceylon deputy general manager marketing Hasrath Munasinghe said: “We understand that the world is moving to alternative payments that offer value and convenience.

“The advantages from this app to our consumers are immense and the option of rapid customisation is a significant differentiator that we intend to leverage to enhance our customer experience.”

After downloading, users can add a maximum of five ComBank Visa, Mastercard or LankaPay cards to the app. The authentication process can be done through SMS.

Users can then make payments to other vendors through Mastercard QE, mVisa or LankaQR. To do so, they need to scan vendors’ QR codes and choose the card.

Moreover, ComBank Q+ supports static and dynamic QR codes.

Euronet chief business officer for India and South Asia Pranay Jhaveri said: “Alternative payments adoption is growing at a very rapid pace in Asia, including Sri Lanka, and Euronet has been at the forefront with its DIPC delivering secure faster payments technology to leading banks and innovative customers in the region.

“ComBank Q+ will transform the scan-and-pay experience of the customer and also the merchants receiving payments.”

 

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