COMBANK and INSEE Cement launch Sri Lanka’s first dealer loyalty debit card

Thursday, 11 January 2018 10:43

The Commercial Bank of Ceylon, Sri Lanka’s market leader in Credit and Debit Card cumulative point-of-sale usage, has broken new ground in hybrid card functionality with the launch of the country’s first dealer loyalty debit card in partnership with Sri Lanka’s foremost cement manufacturer INSEE Cement, formerly known as Holcim Lanka.

INSEE Cement, the brand behind the country’s leading retail cement products such as INSEE Sanstha and INSEE Mahaweli Marine, rewards island-wide dealers through the company’s dedicated loyalty program ‘Ilakkaya’.

The landmark partnership with Commercial Bank of Ceylon for the launch of the ‘INSEE Illakkaya Loyalty Debit Card’ enables dealers to enjoy all benefits, offers and promotions available to Commercial Bank debit cardholders by redeeming loyalty points earned through the purchasing of INSEE Cement, products and solutions.

The launch of this multi-function hybrid card is another example of Commercial Bank’s prowess in adapting technology to offer greater convenience and innovative convergence, the Bank’s Chief Operating Officer Mr S. Renganathan said.

Issued to all dealers of INSEE Cement, the chip-enabled ‘INSEE Ilakkaya Loyalty Debit Card' with Near Field Communication (NFC) ‘tap & go’ technology, is linked to the dealers’ respective Commercial Bank savings accounts, and enables them to earn loyalty points which are credited to their savings accounts each month.

These points can be accessed and utilised by dealers via their loyalty cards.

In addition to earning points from INSEE when purchasing INSEE cement, cardholders can also earn Max Loyalty Points when using the ‘INSEE Ilakkaya Loyalty Debit Card’ at Commercial Bank partner merchant outlets.

The Loyalty card is currently issued in Debit Gold and Debit Platinum variants.

INSEE Cement is manufactured by Siam City Cement (Lanka) Limited, a member of the Siam City Cement Public Company Limited (SCCC), the leading cement manufacturer in Southeast Asia, founded in 1969 in Thailand.

The Company manufactures INSEE branded Sanstha, Mahaweli Marine, Mahaweli Marine Plus, Rapid Flow, Rapid Flow Plus and Extra cement products.

INSEE Cement is the first certified ‘Green Cement’ in Sri Lanka with the Green Labelling certification awarded by the Green Building Council.

The company is the only fully-integrated cement manufacturer in Sri Lanka.

Jan Kunigk, Executive Vice President and Commercial Director of Siam City Cement stated that the company believes in empowering dealers and their families through such innovative and highly applicable initiatives, ensuring that the dealers are rewarded for their significant role in the industry’s value chain.

In finding a like-minded partner in Commercial Bank, one of the country’s leading financial institutions, INSEE Cement is confident of strengthening its relationship with the company’s dealer network island-wide, he added.

Commercial Bank operates a network of 261 branches and 756 ATMs in Sri Lanka.

The Bank has won more than 30 international and local awards in 2016 and 2017 and has over the years received multiple awards as Sri Lanka’s Best Bank, Best Trade Bank, Strongest Bank and Most Respected Bank from a number of local and international institutions and publications.

Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets, Myanmar, where it has a Representative Office in Yangon, the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake and Italy, where the Bank operates its own money transfer service.

Photo caption : Commercial Bank’s Executive Director/Chief Operating Officer Mr S. Renganathan (fifth from right) and Executive Vice President and Commercial Director of INSEE Cement Mr Jan Kunigk exchange the agreement in the presence of senior management of the two companies.

Last modified on Thursday, 11 January 2018 10:49