ComBank conducts workshop for companies in Biyagama
The Commercial Bank of Ceylon recently conducted a workshop on its
innovative electronic total payment solution 'Paymaster' for 70
companies operating in the Biyagama Free Trade Zone.
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(from left) J.M.S.B Udugama, Deputy
General Manager, Customer Collections and Employer Relations
of the ETF Board, S. A .L. Muthukumarana, Deputy
Superintenden, Department of EPF at the Central Bank of Sri
Lanka and Palitha Perera, Assistant General Manager,
Operations at Commercial Bank addressing the gathering . |
Senior officials of Commercial Bank, Mrs. Sandra Walgama, Assistant
General Manager , Personal Banking, Palitha Perera, Assistant General
Manager, Operations, Ivan Fernando, Regional Manager, Pradeep
Banduwansa, Chief Manager - eBanking and Remittances and the Manager of
the Bank's Biyagama Branch, Aubrey Peiris was also present.
The presentations were made by special invitees S. A .L.
Muthukumarana, Deputy Superintendent, Department of EPF at the Central
Bank of Sri Lanka and J.M.S.B Udugama, Deputy General Manager, Customer
Collections and Employer Relations of the ETF Board.
Paymaster enables organisations or individuals to make virtually any
type of payment to multiple beneficiaries by simply uploading a file to
Commercial Bank's online platform.
There are no limits to the number of transactions and if the paying
party and beneficiary both have accounts at Commercial Bank, the
transfer of funds would be virtually instant. Other benefits of the
application include the minimisation of transaction time, costs and
risks associated with the physical handling of money.
Apart from settlement of suppliers, disbursement of dividends and
interest and payment of insurance claims, agent commissions, salaries
and bonuses, companies can also make ETF and EPF payments by utilising
this application. Payments may be made in cash or cheque via Paymaster.
Users of Paymaster also benefit from the added convenience of being
able to make EPF payments 365 days of the year from any location, even
when the payment counters are closed.
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