Sri Lankan financial entities expand digital payment and installment services

The Commercial Bank of Ceylon has launched an extensive digital payments drive in Jaffna to support the Central Bank of Sri Lanka’s national digital payments programme. Ahead of the Nallur Festival, the bank canvassed over 350 merchants to promote its Q+ Payment App, facilitating contactless QR payments and cashback rewards for local businesses including restaurants and clothing stores.

In a separate development within the Sri Lankan fintech sector, retailer Singer has partnered with the payments platform Mintpay. The collaboration offers customers flexible payment options, including an interest-free ‘Pay Later’ service that allows purchases to be split into three installments without a credit card. Customers using the platform can also opt for upfront payments and earn rewards in the form of Mint Coins.