Visa and ComBank leading next evolution in digital payments in Sri Lanka

Avanthi Colombage

Sanath Manatunge

Commercial Bank of Ceylon PLC is making history as the first bank in the country to collaborate with Google and Visa, a global leader in digital payments, to enable Google Pay for its cardholders as part of the Google Wallet launch. 
This is a defining moment for Sri Lanka’s financial landscape, setting a new standard for secure and convenient digital transactions.
Commercial Bank is the only bank in the Sri Lankan market to enable Google Pay for its Visa cardholders, giving its customers a first-mover advantage with this world-class mobile payment solution. 
This collaboration seamlessly integrates Visa’s trusted global network and advanced tokenization technology, Google’s secure and intuitive interface, with Commercial Bank’s robust digital banking ecosystem.
Visa debit and credit cardholders of Commercial Bank can now effortlessly add their cards to Google Wallet, authenticate via a one-time password (OTP) or verification through call center, and use their Android smartphones to make secure, contactless payments with a simple tap at any contactless-enabled Point-of-Sale (POS) terminal, anywhere Visa is accepted, locally and globally. 
Cardholders will no longer need to carry physical cards or cash, and can tap and pay using their NFC-enabled Android smartphones - driving a secure and easy payment experience 
Commercial Bank has strategically collaborated with third-party service provider IDEMIA for tokenization, leveraging Visa’s Token Service (VTS). Tokenization secures every transaction by replacing the actual 16-digit card number with a unique digital token, ensuring the user’s sensitive data is never shared with merchants or stored on the device. 
Furthermore, Commercial Bank used payment infrastructure of Euronet, the bank’s card switch vendor, to launch this product, which guaranteeing reliable and secure transaction processing.
Sanath Manatunge, Managing Director/CEO of Commercial Bank said, “Partnering with Visa and Google marks a significant milestone in our ongoing commitment to elevate digital payment experiences for customers. As the largest private sector bank in Sri Lanka, this collaboration further strengthens our ability to deliver seamless, secure, and contactless transactions anywhere, anytime. By embracing global innovations such as tokenization, Commercial Bank continues to lead the way in digital banking excellence and plays a defining role in shaping Sri Lanka’s cashless future.”
Avanthi Colombage, Country Manager, Sri Lanka and Maldives, Visa highlighting the collective impact said, “Visa is pleased to collaborate with Commercial Bank of Ceylon and Google to bring the transformative payment experience of Google Pay to Sri Lanka. This launch marks a defining moment for Sri Lanka’s payments landscape, empowering people across the country to enjoy a faster, more convenient, and secure payment experience – all with just a smartphone.” 
The initial availability will focus on select card ranges as part of a phased rollout. 
Commercial Bank of Ceylon is Sri Lanka’s largest private sector bank and a leader in digital innovation, having been recognized as the ‘Best Mobile Banking App’ in Sri Lanka by Global Finance. The Bank is committed to leveraging tokenization and next-generation payment technologies to strengthen consumer trust and accelerate digital adoption.