ComBank-CBA introduce NFC-enabled cashless vending machines

Commercial Bank Chief Operating Officer S. Prabagar, Ceylon Business Appliances CEO Ruwath Fernando and Commercial Bank Deputy General Manager Retail Banking and Marketing Hasrath Munasinghe with representatives of ComBank Card Centre and CBA at the new vending machine launch

Sri Lanka will be able to deploy its first credit and debit card-enabled vending machines following a collaboration between Commercial Bank of Ceylon, the country’s biggest private sector bank and Ceylon Business Appliances (CBA), a leading financial technology solutions company.

Advancing consumer convenience and embracing technological innovation, the collaboration will result in the introduction of a fully automated, near field technology (NFC)-enabled vending machine service branded ‘Grab.it’ across Sri Lanka. These machines will accept contact and well as contactless card payments.
The bank said this is the first time a Sri Lankan bank has engaged with a fintech company to offer such a technologically-advanced solution in the retail sector.

The state-of-the-art IM30 point-of-sale (POS) machines supplied by CBA have been seamlessly integrated into these vending machines, allowing them to accept Visa, MasterCard, UnionPay, LankaPay and JCB cards, with payments processed by the Commercial Bank Internet Payment Gateway (IPG). 

Powered by CBA’s WireMe platform, all transactions, including inventory monitoring and payments, will occur in real-time, ensuring seamless visibility for business owners and the bank alike. 

Commercial Bank Chief Operating Officer S. Prabagar said, “This initiative is part of our ongoing efforts to introduce cutting-edge payment technology and provide a superior customer experience, reinforcing the bank’s position as a leader in the banking industry in Sri Lanka and beyond.”

CBA Executive Director/CEO Ruwath Fernando stated, “We are thrilled to collaborate with Commercial Bank on this groundbreaking project, setting a new benchmark for retail and banking technology in our nation.”