Business News: Two more leading educational institutions in Sri Lanka have appointed the ComBank -Commercial Bank of Ceylon as their Internet Payment Gateway (IPG) service provider, enabling both foreign and local students to securely pay their fees online via the respective websites of the institutions.
The latest institutions to link with Bank’s IPG service are Wisdom Business Academy, the popular CIMA education facility in the country, and Asian International Academy (AIA) Holdings, also known as one of the most innovative educational institutions in Sri Lanka.
The Bank’s IPG service for these two institutions will cover the authorization of Credit and Debit cards, and processing of direct payments through Visa, Mastercard and UnionPay branded cards.
The online payment processing of the web portals of both academies will be facilitated by Commercial Bank and provided through Mastercard Payment Gateway Services (MPGS) which is fully compliant with Payment Card Industry Data Security Standard (PCI-DSS) requirements. It is a secure e-commerce solution as merchants are provided with ‘server-hosted pages’ whereby card details are processed on the Payment Server securely and not at the merchant’s end.
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Commercial Bank’s IPG solution provides access to a comprehensive set of fraud mitigation tools, supporting both ‘Mastercard Secure Code’ and ‘Verified by Visa’ 3D secure authentication solutions while having the fully automated process to handle ComBank Easy Payment Plans (EPP), enabling card-on-file transactions through tokenization, keeping the purchasers’ sensitive card details away from the merchant’s systems.
It provides integration options to systems on multiple languages such as PHP, Java and C Sharp and supports device-optimized payment screens which are designed to offer a seamless experience to users of various devices.
Founded in 2002, the Wisdom Business Academy is officially recognized by CIMA as the largest CIMA Business School in Sri Lanka. The achievements of the institution include the Global Premium Learning Partner status of Chartered Institute of Management Accountants (CIMA-UK) and ISO 9001:2015 certification. It has also produced over 140 local and global CIMA prize winners and provides educational services to more than 70% of the CIMA students in Sri Lanka.
Wisdom has partnered with prestigious international universities such as Robert Gordon University, Aberdeen Business School UK and the University of South Australia to provide several undergraduate and postgraduate degrees connected with the CIMA qualification. Wisdom Business Academy is also the exclusive partner for Sri Lanka for Kaplan, UK, where Wisdom students get access to official CIMA learning material.
AIA started in 2011 and is considered one of the most innovative educational institutions in Sri Lanka. As a contemporary educational institute that believes in innovation while ensuring quality learning -AIA is the first in the country to offer a state-of-the-art online learning platform.
AIA has launched an online learning option for the Sri Lanka Institute of Credit Management (SLICM) programmes continuing its exceptional and unprecedented service, to be the exclusive accredited tuition provider for SLICM. SLICM was established in 1988 under the Companies Act No. 17 of 1982. In 2000, SLICM was incorporated under a Parliamentary Act No. 07 of 2000.
AIA also provides tuition for ACCA and CFA in collaboration with the Alpha Business School. Both of these options have also been launched online.
The Company has also launched an online tuition school, with an extensive panel of teachers to provide teaching for Edexcel, Cambridge examinations in Asia and the Middle East. The same online platform provides tuition for Sri Lanka Law College examinations as well.
Furthermore AIA provides the American CPA programme through Becker Professional Education as its Global Partner in Sri Lanka.
AIA is also the Sri Lankan agent for the Canadian University Application Center (CUAC), and facilitates students’ application to Universities in Canada through its extensive network and partnerships. Additionally, AIA also assists students with University applications to a vast number of universities in the United Kingdom, Australia, Malaysia and Dubai.
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.
–Commercial Bank of Ceylon
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