The corporate cards will be issued to employees of corporates and other business entities.
This new product enables corporates to manage expenses of employees, and the card is linked to a corporate credit card account of each company, the Bank said.
Since Visa cards are accepted globally, these cards can be used by employees of corporates to pay anywhere in the world for travel, entertainment and other expenses authorised by their respective companies.
The Visa Signature Corporate Credit Cards will also offer their users special benefits such as lounge access at international airports, and other travel-related support.
“We are delighted to partner with Visa once again to launch another important addition to our payment cards portfolio,” Commercial Bank’s Deputy General Manager – Retail Banking & Marketing Mr Hasrath Munasinghe said.
“Visa is a brand that is accepted globally, which is a key point for business travellers in particular, and accords the users prestigious benefits that make a Visa card a must-have when representing a company.”
Visa’s Country Manager for Sri Lanka & Maldives Ms Avanthi Colombage added:
"We are proud to partner with Commercial Bank of Ceylon to launch corporate credit cards tailored for their clients.
These cards, available in various variants, offer enhanced expenditure control and visibility, optimised working capital, improved data accessibility, and increased efficiency for organisations, while empowering employees with greater spending flexibility.
With Visa's global acceptance and robust security, these corporate credit cards present a compelling, secure, and convenient financial solution for Sri Lankan organisations."
Commercial Bank cards are the market leader in Sri Lanka.
The Bank offers global credit card brands in the Silver, Gold and Platinum tiers and a variety of cards in the premium segment.
The cards are equipped with ‘Tap ’n Go’ NFC technology and are backed by a strong NFC Point-of-Sale (POS) network.
ComBank Cards offer an exciting array of promotions and offers across all categories and also offer the Max Loyalty Rewards scheme for selected card categories covering both credit and debit cards.
Commercial Bank is the largest private sector bank in Sri Lanka and the first Sri Lankan bank to be listed among the Top 1000 Banks of the World.
The Bank operates a strategically-located network of branches and 964 automated machines in Sri Lanka, is the largest lender to Sri Lanka’s SME sector, and is a leader in digital innovation in the country’s Banking sector.
Commercial Bank has the widest international footprint among Sri Lankan Banks, with 20 outlets in Bangladesh, a Microfinance company in Nay Pyi Taw, Myanmar, and a fully-fledged Tier I Bank with a majority stake in the Maldives.
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories.
Visa’s mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive.
The Company believes that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement.
Photo caption Commercial Bank’s Deputy General Manager – Retail Banking and Marketing Mr Hasrath Munasinghe and Visa’s Country Manager for Sri Lanka & Maldives Ms Avanthi Colombage at the launch of ComBank Visa Corporate Credit Cards in Sri Lanka. Visa’s Director – Products & Solutions for Sri Lanka & Maldives Ms Gimali Soysa, Director – Business Development Ms Sheron Mendis, Commercial Bank’s Head of Card Centre Mr Nishantha De Silva, Senior Manager – Card Operations and New Product Development Mr Seevali Wickramasinghe and Senior Manager – Credit Cards and Product Management Mr Asanka Krishan are also in the picture.