Business
ComBank and Abans forge landmark partnership with POS and digital payments rollout
The Commercial Bank of Ceylon is to roll out a major point-of-sale (POS) and digital payments solution across the national retail network of Abans PLC – in a partnership that sets a new benchmark for bank–retailer collaborations in the country and underscores the Bank’s capacity to deliver enterprise-grade acquiring infrastructure.
This agreement will make Abans one of the leading digitally enabled retailers in Sri Lanka, with a network of over 400 outlets across the country, equipping its outlets to accept payments across all major international and domestic card schemes as well as QR payments, while seamlessly integrating with the company’s enterprise resource planning (ERP) and supply chain management (SCM) systems at the scale, security, interoperability, and resilience required by modern retail.
Commercial Bank’s merchant acquiring platform for Abans will encompass Visa, Mastercard, UnionPay, JCB, LankaPay, and LankaQR, in addition to supporting international QR schemes such as WeChat Pay, Alipay and UnionPay, Visa QR, and Mastercard QR, all unified under a single framework that also includes the Bank’s Internet Payment Gateway. This omni-channel capability ensures that whether a customer pays in-store, online, or via mobile, transactions are processed through one consolidated system, simplifying reconciliation and enhancing transparency. Not only does the solution support card and QR payments, it is also capable of facilitating Easy Payment Plans (EPP), delivering a complete, future-ready digital payment experience for merchants and customers alike.
The 2,500 POS devices to be deployed are multi-functional, EMV-certified terminals that support contactless, chip, and magnetic stripe cards, as well as dynamic QR acceptance. Each unit is designed for high throughput environments and offers secure API connectivity to Abans’ ERP and SCM platforms. The result is real-time transaction capture, instant inventory updates, automated billing accuracy, and seamless digital recordkeeping across the chain’s retail footprint, the Bank said.
Commercial Bank’s systems are fully compliant with Payment Card Industry Data Security Standards (PCI DSS), incorporating point-to-point encryption, tokenisation, and layered fraud detection mechanisms. Continuous real-time monitoring, risk scoring, and anomaly alerts safeguard against fraud, while a dedicated incident response team ensures rapid resolution in line with defined service-level agreements.
“This partnership is a showcase of technology leadership,” S. Ganeshan, Deputy General Manager – Personal Banking of Commercial Bank said. “By delivering an integrated POS and digital payment solution of this scale, we are enabling Abans to transact with the highest levels of security, interoperability, and operational resilience. It is proof that Commercial Bank can architect complex payment ecosystems that match the needs of modern retail and align with the country’s digital future.”
Dr. S. Dubash, Director of the Abans Group added: “Our priority has always been to combine innovation with customer-centricity. This deployment gives our customers faster, safer, and more flexible payment choices while ensuring our back-end operations run with precision and efficiency. Partnering with Commercial Bank allows us to take a decisive step forward in digital retailing and reinforces our contribution to the national push towards a cashless economy.”
The collaboration also directly supports the government’s national vision of a cashless economy. By enabling millions of secure, traceable digital transactions at one of the country’s largest retail groups, Commercial Bank and Abans are advancing mass-scale adoption of digital payments, financial inclusion, and efficiency in consumer commerce.
By blending enterprise-grade payment technology, nationwide retail presence, and a shared vision of digital transformation, Commercial Bank and Abans have created a blueprint for future collaborations between banks and large corporates. This rollout redefines what is possible in merchant acquiring, marking a pivotal moment in Sri Lanka’s journey towards becoming a digitally empowered economy, the Bank said.
The first Sri Lankan bank with a market capitalisation exceeding US$ 1 billion, Commercial Bank was also the first bank in the country to be listed among the Top 1000 Banks of the World, and has the highest capital base among all Sri Lankan banks. The Bank is the largest private sector lender in Sri Lanka and the largest lender to the country’s SME sector. Commercial Bank is also a leader in digital innovation and is Sri Lanka’s first 100% carbon-neutral bank.
Commercial Bank operates a network of strategically located branches and automated machines island-wide, and has the widest international footprint among Sri Lankan banks, with 20 branches in Bangladesh, a fully-fledged Tier I Bank with a majority stake in the Maldives, a microfinance company in Myanmar, and a representative office in the Dubai International Financial Centre (DIFC). The Bank’s fully owned subsidiaries, CBC Finance Ltd. and Commercial Insurance Brokers (Pvt) Limited, also deliver a range of financial services via their own branch networks.
Business
Canada Day celebration highlights deepening Sri Lanka-Canada business ties
The vibrant celebration of Canada’s 159th National Day in Colombo brought together diplomats, government representatives, leading business executives and members of the Sri Lankan and Canadian communities, highlighting the growing strength of bilateral economic and commercial relations between Sri Lanka and Canada.
Hosted by the Canada Sri Lanka Business Convention (CanCham Sri Lanka), the event attracted one of the largest gatherings in its history, providing an important platform for business networking while celebrating the enduring friendship between the two countries.
Addressing the gathering, High Commissioner for Canada in Sri Lanka and the Maldives Isabelle Martin said Canada and Sri Lanka continue to enjoy a warm and expanding partnership built on shared values, people-to-people links, trade, investment and development cooperation.
“Canada Day is an opportunity not only to celebrate our country but also to celebrate the strong friendships and partnerships we have built with Sri Lanka.
The remarkable turnout this evening reflects the strength of those relationships and the growing collaboration between our two nations,” Martin said.
She noted that the close engagement between Canadian and Sri Lankan businesses continues to create new opportunities in trade, innovation, education, sustainable development and investment.
CanCham Sri Lanka officials said this year’s celebration was among the most successful Canada Day events ever organised by the Chamber, drawing an outstanding crowd and creating exceptional opportunities for business networking.
“What an incredible celebration of Canada Day. This was truly one of the most successful Canada Day celebrations in history, with an outstanding crowd and exceptional networking opportunities. It was wonderful to see so many distinguished guests, business leaders and community members come together,” the organisers said.
They thanked sponsors, partners, supporters and volunteers whose dedication ensured the success of the event.
The evening showcased Canada’s multicultural heritage while reaffirming the Chamber’s commitment to promoting stronger commercial links between Sri Lanka and Canada.
Guests representing a wide cross-section of industries exchanged ideas on expanding trade, investment and innovation partnerships.
Canada remains an important economic partner for Sri Lanka, with bilateral trade spanning apparel, agriculture, seafood, ICT services, education and professional services.
Canadian companies continue to explore opportunities in renewable energy, infrastructure, technology and sustainable development, while Sri Lankan exporters maintain a significant presence in the Canadian market.
Business leaders attending the celebration expressed confidence that closer collaboration between the two countries would further strengthen economic resilience and create new opportunities for investment, entrepreneurship and knowledge sharing.
The event concluded on a celebratory note, reaffirming the longstanding friendship between Canada and Sri Lanka and the shared commitment to fostering stronger business and people-to-people ties in the years ahead.
By Ifham Nizam
Business
Tokyo Cement inspires future-ready construction at BUILD BEYOND 2026 Technology Summit
Tokyo Cement hosted ‘Build Beyond 2026 Summit’, a premier knowledge-sharing conference that brought together leading academics, civil and structural engineering experts and professionals of the Sri Lankan construction industry. The event featured keynote addresses by renowned construction technology specialists, Professor Shashank Bishnoi from the Indian Institute of Technology (IIT) Delhi-Abu Dhabi, and Senior Professor Priyan Mendis from the University of Melbourne.
The summit marked the second edition of the Build Beyond Engineering Technology Summit organized by the Tokyo Cement Group, designed to foster collaboration between academia and industry while highlighting global trends, innovations, and emerging technologies in cement and concrete. This year’s discussions focused on advancements in material science that are driving more sustainable and cost-efficient construction practices.
The event drew participation from state-sector authorities, research institutions, academia, engineering students, and public and private sector organizations, creating a dynamic platform for engagement across the construction industry. A key feature of the summit was a high-level panel discussion on “Building a Resilient and Sustainable Construction Future,” featuring several distinguished industry leaders.
The panel included Eng. Nissanka Wijerathne, the Secretary General/CEO of the Chamber of Construction Industry Sri Lanka (CCI), Founder and Deputy Chairman of Civil & Structural Engineering Consultants (Pvt.) Ltd.; Eng. Shiromal Fernando, the Chairman of CTBUH Sri Lanka and Vice President of the Green Building Council Sri Lanka, Adjunct Senior Lecturer at the General Sir John Kotelawala Defense University and visiting lecturer at the University of Moratuwa; Eng.
Business
ComBank and Carmart join forces to make Peugeot and Leapmotor vehicles more accessible
Strengthening its commitment to making vehicle ownership more accessible and affordable, Commercial Bank of Ceylon has entered into a strategic partnership with Carmart (Pvt) Ltd. to offer specially structured leasing facilities for Peugeot and Leapmotor vehicles.
Formalised through a Memorandum of Understanding (MoU), the collaboration brings together the Bank’s expertise in flexible financing and Carmart’s portfolio of internationally recognised vehicle brands, creating a value-rich proposition for customers seeking to purchase new vehicles.
Under this MoU, valid until 30th June 2027, Commercial Bank will offer attractive interest rates, concessions on documentation charges, and a complimentary credit card with the first year’s annual fee waived. These benefits are designed to reduce upfront costs and ease the financial commitment associated with vehicle ownership.
With leasing facilities available through Commercial Bank’s island-wide branch network, a cross section of customers will be able to part-finance their vehicle purchases while structuring repayments to align with their income patterns, enabling greater financial flexibility.
Further enhancing the value proposition, Carmart (Pvt) Ltd. will offer customers a range of added benefits, including a complimentary full tank of fuel, free vehicle registration, and other exclusive privileges, making the overall vehicle ownership experience more rewarding.
The Bank said the partnership reflects its continued focus on delivering practical and customer-centric leasing solutions in collaboration with reputed vendors. By combining competitive rates with cost-saving concessions, the Bank aims to make vehicle ownership more attainable for both existing and new customers.
This collaboration is particularly significant in the current market context, as it offers customers the opportunity to benefit from preferential leasing terms while managing repayments in a way that suits their financial circumstances.
As a pioneer in leasing solutions, Commercial Bank continues to innovate through strategic alliances that enhance value, broaden choice, and support customers in achieving their lifestyle aspirations.
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