Home » ComBank first to enable Alipay QR payments for merchants

ComBank first to enable Alipay QR payments for merchants

by damith
April 9, 2024 1:17 am 0 comment
Commercial Bank Managing Director/CEO Sanath Manatunge and Alipay Business Development Manager – South Asia and South East Asia Mark Naglis with the Bank’s Chief Operating Officer S. Prabagar, Deputy General Manager – Retail Banking & Marketing Hasrath Munasinghe, Head of Card Centre Nishantha De Silva and Senior Manager Card Centre Seevali Wickramasinghe at the launch

The Commercial Bank of Ceylon has opened up a world of new opportunities for Sri Lankan businesses, by becoming the first bank in Sri Lanka to enable Alipay QR Code payments under unified Lanka QR.

Alipay e-wallet holders, currently numbering over 1 billion, can now scan the Commercial Bank LankaPay unified QR code issued to Sri Lankan merchants to make payments from anywhere in the world, as a result of this latest development.

The Bank said more than 50,000 of the Bank’s merchants will be enabled to accept the Alipay QR when the Bank completes the deployment of the new QR across its network, facilitating access to a vast new customer segment.

Around 28,000 merchants who have POS devices can already accept Alipay QR payments via POS devices after enabling the service by calling the bank.

“This is a huge breakthrough for Sri Lankan businesses, and we are proud to be the Bank that unlocks the potential of the Alipay portal for them,” Commercial Bank’s Deputy General Manager – Retail Banking & Marketing Hasrath Munasinghe said. “This will also enable thousands of tourists visiting Sri Lanka to scan and pay using their Alipay e-wallets, and enhance the versatility of the LankaPay platform.”

As a leading digital payment and lifestyle service platform, Alipay helps partners and more than 80 million merchants in China to effortlessly serve over 1 billion Chinese consumers.

The company’s proprietary technology and 20 years of quality services support mobile-savvy Chinese consumers to instantly and safely scan to pay when making online and offline purchases in China or travelling overseas.

Commercial Bank has the distinction of launching the first QR-based payment application on LankaPay’sLankaQR platform, a Central Bank of Sri Lanka initiative to ensure all QR codes and QR based transactions in Sri Lanka are standardised and interoperable.

The application, ComBank Q+, recently won the Gold award for ‘Best Mobile Application for Retail Payments via LankaQR’ at the LankaPay Technnovation Awards 2024.

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