The Commercial Bank of Ceylon in collaboration with Mastercard International has introduced payment processing through Mastercard Payment Gateway Services (MPGS) in Sri Lanka, and has integrated Takas.lk as the first merchant to use this service.
Commercial Bank’s Chief Operating Officer S. Renganathan said, “Commercial Bank is proud to be the first bank to introduce this state-of-the-art technology to Sri Lankan consumers together with Mastercard.
“The Bank always strives to introduce technology that matters in the lives of customers and we are confident this technology will significantly enhance the online shopping experience of Takas.lk customers,”
Co-Founder/CEO of Takas.lk, Lahiru Pathmalal said: “Takas.lk is one of the top e-Commerce companies in Sri Lanka because of our emphasis on customer service and our technological edge over everyone else.”I believe the ability for us to do one-click in Sri Lanka will enhance the customer experience in a most positive way. Being the first to integrate one-click at this scale is also a testimony to our fully in-house technology team. We are very pleased to have partnered with Commercial Bank to deliver this product to the market,” he said.
One of the first banks in country to offer MPGS, Commercial Bank now provides the merchants a secure, cost-effective way to perform card-on-file transactions through tokenisation, keeping sensitive card details away from merchant’s systems.
Tokenisation enables merchants to store the tokanised card number in their systems reducing the risk of exposing actual card numbers. The customers are required to enter the card details only on the very first occasion they make a purchase through the website. With this solution, customers of Takas.lk are now able to perform repetitive purchases without having to re-enter card details for such transactions. Other benefits of using MPGS include access to a comprehensive set of fraud mitigation tools; support to both ‘Mastercard SecureCode’ and ‘Verified by Visa’ 3D secure authentication solutions. MPGS also supports device optimised payment screens which are designed provide a seamless experience to users of various devices.