The Commercial Bank of Ceylon Plc, Sri Lanka’s market leader in Credit and Debit Card cumulative point-of-sale usage, has extended the reach of its hybrid card functionality by partnering with JAT Holdings to introduce a loyalty debit card programme for the latter’s SAYERLACK Loyalty customers. JAT Holdings, named one of the strongest conglomerate brands in Sri Lanka,aims to reward loyal contractors, carpenters and wood workers for their patronage through the ‘ComBank-JAT SAYERLACK Loyalty Debit Card.’ Registered customers can earn loyalty points from their purchases of SAYERLACK waterbase wood coatings from JAT while enjoying all the benefits, offers and promotions available to Commercial Bank Debit cardholders. The chip-enabled card with Near Field Communication (NFC) ‘tap and go’ technology is linked to the cardholders’ respective Commercial Bank savings accounts and enables them to earn loyalty points which are credited to their savingsaccounts each month. These points can be accessed and utilised by the cardholders via their loyalty debit cards. “Each point earned by a cardholder is converted into a Rupee and can be utilised during point-of-sale transactions. One of our main objectives through this partnership with JAT Holdings is to promote the habit of saving as well as the use of the banking system to a segment that can benefit from a greater degree of inclusivity,” said Mr Thusitha Suraweera, Head of Commercial Bank’s Card Centre. In addition to earning loyalty points from JAT Holdings when purchasing SAYERLACKwaterbase wood coatings, cardholders can also earn Max Loyalty Rewards Points when using the ‘ComBank-JAT SAYERLACK Loyalty Debit Card’ at Commercial Bank partner merchant outlets. Commercial Bank Credit and Debit Cards offer year-round promotions covering a wide variety of services. Commercial Bank was the first bank to offer loyalty rewards for both Credit and Debit Cardholders under its Max Loyalty Rewards scheme. The Bank was also a pioneer in extending promotional discount offers, which were traditionally only offered for Credit Cards to its Debit Cards. Commercial Bank cards are the fastest growing cards in Sri Lanka. The Bank offers a variety of Credit Cards in the Classic, Gold and Platinum tiers of Visa, Mastercard and UnionPay cards, as well as Visa Signature, World Mastercard, Visa Infinite, UnionPay Asia Prestige Diamond and UnionPay Asia Prestige Platinum 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 network. The only Sri Lankan Bank to be ranked among the world’s top 1000 banks for eight years consecutively, Commercial Bank operates a network of 266 branches and 846 ATMs in Sri Lanka. The Bank has won multiple international and local awards in 2016 and 2017 and over 40 international and local awards in 2018. Commercial Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Representative Office in Yangon and a Microfinance company in Nay PyiTaw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake. Founded in 1993, JAT Holdings has risen in corporate reputation, financial strength and brand recognition to become a conglomerate owning world renowned brands. Since its inception with a focus on wood coatings, the Group has diversified into the fields of Paint, Furnishing, Technology, Living (Apartments) and Agriculture. Having been the principal agent for the flagship Italian brand SAYERLACK since 1993, JAT Holdings has expanded its business to overseas territories opening branches in Bangladesh, India, Pakistan and the Maldives. Photo caption: Commercial Bank’s Chief Operating Officer Mr Sanath Manatunge (4th from right) and Chief Executive Officer of JAT Holdings Mr Nishal Ferdinando exchange the agreement in the presence of Commercial Bank Deputy General Manager – Marketing Mr Hasrath Munasinghe (3rd from right) and senior representatives of the two institutions.
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