Customers who have linked their Commercial Bank cards to the Q+ Payment App can now send money to another locally-issued Visa and Mastercard Debit, Credit or Prepaid card, to a Commercial Bank or other local bank account or to any Payment Exchange Name (PEN) through any LankaPay-registered mobile number, directly from their registered cards in the App.
Notably, the Card-to-Card funds transfer feature is the first of its kind to be implemented via a payment application in Sri Lanka and is operated via the 'Visa Direct’ and ‘Mastercard Send’ card-based fund transfer facilities.
This user-friendly, two-step fund transfer method can be executed simply by keying in the card number of the recipient and the desired amount, the Bank said.
Similarly, the Card-to-Account feature is equally convenient as the sender is require to select the recipient’s bank and then type the account number and amount to conclude the fund transfer.
Q+ Payment App has also enabled a favourites tab to store recipient card and account particulars to perform future transactions even more conveniently.
Additionally, PEN, which is one of the latest secure payment methods introduced by LankaPay, adds further convenience to cardholders as it is a nickname based real-time person-to-person mobile number-based payment system that eliminates the need for submitting recipient bank or account details.
Meanwhile, under the ‘Scheduled Payments’ feature, Q+ Payment App customers can schedule payments to Commercial Bank accounts and cards or to any local bank account, Card number, or PEN, and even schedule settlement of outstanding payments due on Credit Cards issued by other banks.
This feature enables customers to set up recurring standing instructions that will automatically be carried out to the stipulated frequency, on the specified date and time.
Customers receive instant SMS notifications on the status of each transaction.
The Scheduled Payments feature is positioned as a hassle-free and efficient payment method that is especially convenient for the settling of recurring payments such as Credit Card bills, utility bills, insurance premiums and school fees, the Bank said.
Customers can also conveniently amend or cancel scheduled payments via the main screen of the ‘Scheduled Payments’ list on the Q+ Payment App.
These latest app updates can be downloaded via Google Play Store and the Apple App Store. Q+ Payment App, which was designed as a hassle-free payment alternative for cardholders and vendors enable customers to make payments across multiple channels.
Customers can perform any Scan & Pay transaction by simply scanning the QR code displayed on bills or at merchant locations through the App.
They can also key-in the account particulars and make real-time payments under in-app bill payments in several categories such as data reloads, pre-paid and post-paid mobiles, fixed telephone lines, utilities, water, and electricity (CEB and LECO), pay TV bills, insurance premiums, credit card outstanding, pre-paid cards top-up and Municipal Council Payments.
Customers can also perform online merchant payments through Q+ online pay facility with the registered mobile number without disclosing the sensitive card details, the Bank said.
The first QR-based payment application to be launched under LANKAQR, the Q+ Payment App became the fastest growing QR payment App in Sri Lanka in 2022 while providing support towards the national digital drive of the country.
Sri Lanka’s first 100% carbon neutral bank, the first Sri Lankan bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for 12 years consecutively, Commercial Bank operates a network of 269 branches and 943 automated machines in Sri Lanka.
Commercial Bank is the largest lender to Sri Lanka’s SME sector and is a leader in digital innovation in the country’s Banking sector.
The Bank’s overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.