Banking

Sampath introduces Complete Chip Technology

The Complete Chip Technology was introduced in Sri Lanka for the first time by Sampath Bank the bank now claims the introduction of complete chip technology with 100 per cent security assurance via initiating to enable the network of merchants.

Ajith Nivard Cabraal with bank officials at the opening ceremony

The chip enabled credit card provides greater security to the customers against skimming, which involves the replication of personal and confidential data stored on the card. The micro processor on the chip card can securely store a large amount of data unlike the magnetic strip card and generates a unique transaction ID which makes it difficult to counterfeit the card.

However to ensure 100 per cent security of chip technology, having a chip enabled merchant terminal is a must. If the merchant terminal is not supported by chip technology, the transaction would be completed as a magnetic strip transaction as the card carries both the magnetic strip and the chip.

Sampath Bank differentiates themselves from the other banks who have introduced chip cards to Sri Lanka, as they have commenced enabling the merchant network with chip enabled POS terminals.

The Sampath Bank chip credit card can be used at any merchant location in the island or overseas, even if they are not chip enabled EDC terminals providing greater service flexibility to the bank's customers. The chip card can also be used for all other regular credit card transactions such as mail orders and ATM transactions.

The bank has commenced the issuance of the chip enabled credit card to their Visa Platinum card holder base and will extend this facility to the Gold and Silver card holders in the year 2009.

The inaugurating transaction through the Sampath chip enabled credit card was carried out by Governor of Central Bank Ajith Nivard Cabraal at a ceremony held recently.

Winners of Nations Trust save and win promo

Nations Trust Bank recently announced the winners of its Save and Win promotion for the month of November. Winners were chosen from lucky draws held weekly in the presence of the Western Provincial Council officials.

The new campaign rewards new as well as existing customers with a 50,000/- cash reward every week in addition to a 100,000 cash reward every month. This promotion will continue until December 31.

More information is available at all Nations Trust Bank branches or Personal Banking Centres which offer 365 day banking as well as extended banking hours or on www.nationstrust.com.

The weekly winners to win a cash prize of Rs.50, 000 are Chandika Nanayakkara of Kurunegala, Nishantha Mewan Fernando of Moratuwa, and Pallegedara Samaraweera of Panadura and Moratuwage Upali Wasantha De Silva of Nugegoda.

The monthly cash prize of 100,000 for November was won by Ms. Victoria of Battaramulla.

Nations Trust Bank opens in Bandarawela

Director/CEO of Nations Trust Bank PLC Zulfiqar Zavahir accepting the first deposit from a customer at the opening of the new branch at Bandarawela.

Nations Trust Bank PLC recently opened their new branch in Bandarawela.

"Bandarawela has been a key location where the Bank provided leasing services for well over nine years. We are delighted to add to our portfolio of financial offerings in the location, with the opening of the new branch and are certain this will be a convenient aspect for the people of the area", said Director/Chief Executive Officer Nations Trust Bank PLC Zulfiqar Zavahir.

"We are confident that our offering of 365 day banking with extended banking hours in addition to the host of innovative financial services and products will be of great value," he added. The new branch marks the 36th branch in the Bank's network.