Sri Lanka-based Commercial Bank of Ceylon (CBC) has reported 30% rise in debit card payments and has issued around 400,000 new cards over the last one year.
CBC CEO, Ravi Dias, was quoted by Lanka Business Online as saying that they have the largest active debit card base in Sri Lanka, which had now expanded to three million.
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Credit card usage in the country has also increased. According to Central Bank data, the number of active credit cards increased to 926,614 from 891,170 in December 2013.
Dias said CBC has also upgraded its mobile and internet banking services.
“By promoting this channel migration, we do not only make banking more convenient to the customers but also significantly reduce the transaction costs for the bank,” Dias added.
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