The solution will provide a frictionless experience to cardholders with instant payments and real-time SMS alerts.
Combining Mastercard’s global expertise in payments with Cargills Bank’s local insights, the ‘Tapit’ solution will not only promote digital payments but will also advance contactless transactions, thereby furthering financial inclusion in the country and supporting its digital transformation.
‘Tapit’ is an adhesive payment enabled sticker that can be easily pasted on a mobile phone, handbag or any other item of day-to-day use which has a flat surface. It uses advanced Near Field Communication (NFC) technology and is protected by military-grade EMV chip encryption and security protocols.
Cardholders can simply paste the sticker on the item of their choice and begin their contactless payments journey. To complete a transaction, all they need to do is hold the item close to the Point of Sale (POS) device. The transaction is concluded instantly with an SMS alert in real time.
Senarath Bandara, Managing Director and CEO, Cargills Bank, said, “This contactless sticker card represents Cargills Bank’s commitment to innovative banking solutions. Combining state-of-the-art technology with convenience and security, we are enhancing customer experience while advancing Sri Lanka’s digital banking landscape.”
Sandun Hapugoda, Country Manager, Sri Lanka and Maldives, Mastercard, said, “The launch of the first contactless sticker card marks a major milestone in payment innovation in Sri Lanka. Aligned with the country’s digital transformation vision, this solution will provide cardholders a highly secure and frictionless payment experience. Mastercard is delighted to collaborate with Cargills Bank to accelerate Sri Lanka’s transition to a cashless society.”
To avail the contactless sticker card, cardholders can visit their nearest Cargills Bank branch
About Cargills Bank https://www.cargillsbank.com/
With a vision to be Sri Lanka’s most inclusive bank driven by digital enablement, Cargills Bank is rated A(lka) by Fitch Ratings Lanka and is the financial services arm of the Cargills Group, providing a full range of banking and financial services. The Bank has also embraced a vision for a cashless society, driven by island-wide technology-based payment solutions.
In addition to branches, ATMs and digital channels, Cargills Bank accounts are also accessible through Cargills Retail outlets Islandwide and enjoy free cash deposits and withdrawals at all 530 Cargills Retail outlets courtesy of the Cargills Cash Service.
Cargills Bank is headquartered in Colpetty in Colombo and maintains branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Chilaw, Fort, Rajagiriya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, Jaffna Nawalapitiya, Negombo, Anuradhapura and Bandarawela. The Bank’s branch network is bolstered by 26 Cargills Bank MINI service points located within selected Cargills Food City outlets that carry out banking functions such as account opening and customer support
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we’re building a sustainable economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential.
www.mastercard.com
