The Commercial Bank of Ceylon has become one of the first banks in Sri Lanka to offer Near Field Communication (NFC) enabled Visa and Mastercard, credit cards, two of the leading brands in the sphere.
Commercial Bank’s Managing Director/CEO Jegan Durairatnam said, “Commercial Bank is proud to be the first bank in Sri Lanka to launch NFC enabled credit cards from both Visa and Mastercard brands. These cards are designed to offer the most premium facilities to customers who enjoy the finer things in life.”
Commercial Bank’s Visa Infinite, World Mastercard and Visa Signature branded NFC credit cards are targeted at premium customers, Bank officials said at the launch last week in Colombo.
Near Field communication is a set of communication protocols that enable the chip mounted on the credit card to establish contactless communication with a portable device.
NFC enabled credit cards are more secure than those with magnetic strips, and their contactless communication capability means that holders of NFC-enabled cards need not relinquish their cards to third parties when making a payment via a terminal or device with the same technology.