COMBANK innovates again with ‘FastPay’ – new Mobile Payment Option
The Commercial Bank of Ceylon has launched its own Mobile Payment option, enabling account holders to make instant cash- less transactions via the Bank’s existing mobile banking app, through a simple and innovative mobile payment option.
‘FastPay’ links Commercial Bank accountholders who use the Bank’s Mobile Banking App with point-ofsale terminals of vendors who use the Bank’s Online Banking service, enabling the account holders’ mobile phones to be used like debit cards to access funds in their bank accounts.
This elegantly hassle- free and secure payment system allows a customer to make purchases and inform the Cashier at the retail outlets that he or she wishes to pay via FastPay. The cashier then enters the customers’ mobile phone number and the platform generates a notification to the customer’s mobile phone, and the transaction is completed when the customer authorises payment from his phone.
“This is once again a simple easyto- use feature made possible through technology,” Commercial Bank Chief Operating Officer S. Renganathan said. “At Commercial Bank, we are constantly looking for ways to make financial transactions more convenient, safer and as inclusive as possible. FastPaywill enable cash-less and card-less payments even in remote areas where card payments are less common.”