ComBank launches Chip Card with VISA

The Commercial Bank of Ceylon PLC has commenced issuing chip-integrated Credit and Shopping Debit cards under the Visa brand, becoming the first bank in Sri Lanka to offer locally personalized chip cards.

Offering significantly enhanced security features, these chip cards can be used at points of sales in Sri Lanka and anywhere in the world for purchase of goods and services and for cash withdrawals at ATMs, the bank said.

Since the personalization of the card is done locally, the Bank can issue these cards faster to its customers, supporting their fast-paced lifestyle. All new Visa Credit and Shopping Debit cards issued by Commercial Bank and renewals would contain embedded chips with integrated circuits, said Bank’s Card Centre Chief Manager Thusitha Suraweera.

Commercial Bank is the largest issuer of debit cards in Sri Lanka and accounts for the highest point of sale transaction value among all debit card issuers.

“Commercial Bank continues to invest significantly to integrate the latest technological developments into its systems and products.” Suraweera said. “The move to switch to chip cards comes at a time of expansion of the local debit card market and is a timely enhancement of security and convenience.”

For the issue of chip integrated cards, the Bank obtained the services of two globally-renowned vendors who are world leaders in their respective spheres.

The service of Oberthur Technologies was obtained for the provision of chip cards and chip card personalization software while equipment provided by Datacard was used for card personalization.

Asia Pacific for Oberthur Technologies Director Mark Garvie said: “By contributing required expertise, dedication and worldwide leadership in the financial cards and services domain, Oberthur has worked with Commercial Bank to launch their EMV project in the market and is glad to be a part of this venture and Commercial Bank’s success.”

USA Datacard Group South Asia Director Shirish Rege said Datacard Group is extremely proud to be a part of the first ever local issuance of EMV smart cards to the public in Sri Lanka pioneered by Commercial Bank of Ceylon. ‘Datacard Group’s state-of-the-art Datacard MX2000 Card Personalization System supplied through our Sri Lankan Distributor DMS Ltd will ensure that the highest levels of quality and security are maintained in financial card issuance, in line with Datacard’s leadership position worldwide,” he said.

Besides the enhanced security, all Commercial Bank cardholders benefit from value added services such as Comdeals - a program that offers significant discounts at a large number of outlets and interest free easy instalment payment schemes.

As the cards are from Visa, customers are also entitled to international promotions offered by Visa.