ECONMYNEXT – Sri Lanka’s Commercial Bank of Ceylon said it’s QR code-based payment app had drawn 100,000 users in the past five months.
The app is launched as an alternative for Commercial Bank cardholders.
“[Q+ app] is well received by customers owing to the convenience and security it offers them in cashless payment processing when they pay for purchases by scanning QR codes via mobile phones or via the in-app bill payment facility,” Commercial Bank said.
“The Q+ Payment App enables cardholders to pay for purchases via their mobile phones simply by scanning the merchant’s QR code.”
App has a self-registration process.
The app has bill payment features that allow customers connected to the Bank’s debit, credit or prepaid cards to pay bills instantly, data reloads, prepaid and post-paid mobiles, fixed telephone lines, water and electricity (CEB and LECO) and pay-TV bills and settle credit card outstanding bills.
It can also be used to pay for online purchases using the ‘Online Pay’ feature by entering their mobile numbers in merchant websites and apps that have ‘Q+ Payment App’ as a payment option.
Customers use ComBank Visa, Mastercard and UnionPay cards to the Q+ Payment App, enabling them to perform LankaQR, mVisa, and Mastercard QR transactions.
Only five cards can be added to the app.
The payment app can also be used for overseas QR merchants through the Visa and MasterCard networks.
Commercial Bank says this will prevent card losses and theft while encourages the use of environment-friendly payment methods.
“Payments done using Q+ Payment App require authentication using a static PIN which ensures the safety and security of transactions, making the Q+ Payment App more secure than a normal card,” the bank said.