Commercial Bank & Bancstac Partner to Modernize Digital Payment Infrastructure 📈

• The Agreement: Commercial Bank of Ceylon (ComBank) has signed a long-term Technology Services Master Agreement with Bancstac to deploy a secure, bank-controlled payment processing infrastructure. The move eliminates reliance on third-party intermediaries by establishing a direct, encrypted connection to ComBank’s core systems. • Infrastructure & Governance: All transaction authorizations and settlements will continue through the ComBank switch (Euronet Worldwide). This ensures the bank retains 100% visibility, governance, and control over merchant onboarding, fee assessment, and risk management. • Service Expansion: The enhanced Internet Payment Gateway (IPG) will expand beyond Visa, Mastercard, and UnionPay to include JCB, Lanka Pay (National Card Schemes), and LankaQR. Merchants can also apply to enable American Express, Discover, and Diners Club through the same integration. • Technological Benefits: • Advanced Features: Includes tokenization, advanced fraud mitigation, automated reporting, and 24/7 monitoring. • Security Standards: Fully compliant with PCI-DSS, PCI-3DS, and GDPR, meeting Central Bank of Sri Lanka (CBSL) regulatory requirements. • Efficiency: Designed to deliver higher authentication rates, faster authorizations, and increased system uptime for the growing e-commerce sector. • Strategic Impact: This collaboration accelerates the bank’s digital transformation and supports the national shift toward a digital-first financial ecosystem by providing a scalable, future-ready payment stack for Sri Lankan merchants.