Business News: The Commercial Bank of Ceylon has announced an upgrade to its ground-breaking all-digital banking app ‘Flash’ – Sri Lanka’s first fully-fledged Digital Bank Account when it was launched by the Bank last year.
The extremely timely upgrade is the addition of a QR or Quick Response Payment module that enables Flash account users to scan a Lanka QR code of any merchant to make payments directly from the account to the merchant for goods or services purchased.
Facilitated by Lanka Clear (Pvt) Ltd., the Lanka QR code is a national standard introduced by the Central Bank of Sri Lanka for local currency payments through mobile phones.
Offered free of charge, the QR Payment option can be used to pay from any account of Commercial Bank as well as from accounts at other banks.
In March this year, Commercial Bank made it easier for customers to open ‘Flash’ Digital Accounts by permitting 100% self-registration until further notice, removing the need to visit a branch to get started.
The first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for nine years consecutively, Commercial Bank is celebrating its 100th anniversary this year. The Bank, which won more than 50 international and local awards in 2019, operates a network of 268 branches and 865 ATMs in Sri Lanka.
Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.