The Commercial Bank of Ceylon has announced that it has entered into a long-term Technology Services Master Agreement with Bancstac to deploy a secure, compliant, scalable, and fully bank-controlled payment processing infrastructure, reinforcing the Bank’s leadership in digital financial services.
Under the agreement, Commercial Bank will direct merchants to integrate with its Internet Payment Gateway (IPG) and associated technology modules for processing online and card-not-present transactions. The solution establishes a direct, secure, and encrypted connection between the Bank’s core systems and Bancstac’s payment infrastructure, eliminating reliance on third-party intermediaries.
Both transaction authorisation and fund settlement will continue to be routed through the Commercial Bank switch, powered by Euronet Worldwide, ensuring that all processing remains under the Bank’s full visibility and governance.
The Commercial Bank IPG currently supports Visa, Mastercard, and UnionPay, and is set to expand to include JCB and Sri Lanka’s national card schemes. It also supports LankaQR and other non-card payment methods, strengthening the Bank’s strategy to expand e-commerce, QR acceptance, and alternative digital payment channels.
Through a single integration, Commercial Bank gains access to Bancstac’s full technology suite, including 24/7 monitoring, proactive alerts, operational support, issue resolution, merchant onboarding assistance, fraud mitigation tools, compliance enhancements, refund and chargeback handling, tokenisation, hosted payment pages, scheduled payments, simplified e-commerce features, and batch payment processing.
The system also provides transaction data, logs, automated reporting, reconciliation, and settlement information, enabling the Bank to verify fee accuracy and transaction integrity in real time.
Commenting on the partnership, Commercial Bank Chief Manager – Card Centre Seevali Wickramasinghe said the collaboration marks a significant step in modernising the Bank’s payment infrastructure.
“This long-term partnership with Bancstac enables us to modernise our payment gateway infrastructure with direct connectivity, full operational visibility, and complete governance control. By adopting a fully secured and scalable technology stack, we are strengthening our capacity to support the rapid growth and innovation of e-commerce and digital payments in Sri Lanka, while ensuring that transaction processing remains firmly within the Bank’s risk and compliance framework,” he said.
Altair enhances living experience with appointment of RMS as facilities management partner
The Management Council of Altair Colombo, one of Colombo’s most iconic residential and mixed-use developments, has appointed Realty Management Services Ltd (RMS) as its new facilities management partner, marking a significant step toward enhancing operational excellence and the overall resident experience. RMS is a subsidiary of Overseas Realty Ceylon PLC, the owner of the World Trade Centre and Havelock City developments.
This transition reflects Altair’s renewed commitment to delivering consistent, professional, and responsive property management services aligned with its premium positioning in Colombo’s luxury residential segment.
RMS brings over 28 years of industry experience in managing high-rise, luxury residential, and commercial developments. Backed by a financially strong parent company, the firm is supported by deep expertise in engineering, compliance, and operational governance. It is widely recognized for its structured and professional approach to facilities management, with a growing portfolio of high-end residential contracts.
Under the new partnership, residents are expected to benefit from improved day-to-day services, including faster response times, enhanced housekeeping standards, strengthened security protocols, and more structured and transparent communication systems. These improvements will be delivered through clearly defined service levels, a dedicated on-site management team, and robust performance monitoring frameworks.
The partnership will also introduce greater use of technology, including digital service platforms, streamlined reporting systems, and data-driven maintenance planning. In addition, sustainability-focused initiatives and energy optimisation strategies will be gradually implemented to improve efficiency and reduce long-term operational costs.
Commenting on the partnership, RMS Chief Operating Officer Remaz Ghouse said the company aims to establish a structured and service-driven operational environment at Altair.
“Our priority is to establish a well-structured, accountable, and service-oriented operational environment at Altair. We are committed to delivering a seamless living experience that reflects the development’s architectural distinction and premium positioning, while building long-term value for its residents,” he said.
ComBank partners with Bancstac to enhance digital payment infrastructure
