Launched by Commercial Bank of Ceylon, ComBank Q+, which is a QR-based payment app, uses the DIPC technology from Euronet


Commercial Bank of Image: Ceylon introduces the ComBank Q+ payment app. Photo: courtesy of Gerd Altmann/Pixabay.

Sri Lanka-based Commercial Bank of Ceylon has launched a quick response (QR)-based payment app called ComBank Q+ powered by Euronet Worldwide’s Digital Integrated Payments Cloud (DIPC) technology.

ComBank Q+ is said to be the first QR-based payment app under LANKAQR, which is the QR standard for local currency payments in Sri Lanka introduced by the Central Bank of Sri Lanka.

ComBank Q+ uses the microservices architecture of DIPC

The new payment app uses the microservices architecture and open APIs of DIPC to power its QR code engine. Apart from that, the DIPC technology is said to offer the scalability and flexibility needed by a project of this size to provide payments technology as a service (PTaaS), said Euronet Worldwide.

The company further said that the system’s end-to-end scope included development of a QR code customer app, reconciliation and settlement services for all transactions, a merchant app with a QR code central processing engine, and the related IT infrastructure on a pay-per-use model.

Commercial Bank of Ceylon marketing deputy general manager Hasrath Munasinghe said: “Providing an innovative and secure transaction experience has always been a key driver for the bank. We understand that the world is moving to alternative payments that offer value and convenience.

“The advantages from this app to our consumers are immense and the option of rapid customization is a significant differentiator that we intend to leverage to enhance our customer experience.”

According to Euronet, bank customers after downloading and installing the ComBank Q+ app, can add up to five Visa, ComBank Mastercard, or LankaPay cards via an authentication process through SMS. After this, customers can carry out transactions through MasterCard QR, mVisa, or LankaQR by scanning a vendor’s QR code and selecting which card to use for making the payment.

The ComBank Q+ app is said to ensure a friction free, secure and faster payment experience for customers and merchants while supporting static and also dynamic QR codes. The app complies with EMVCo specifications enabling interoperability and also the QR-code payment functionality overseas.

Euronet India and South Asia chief business officer Pranay Jhaveri said: “Alternative payments adoption is growing at a very rapid pace in Asia, including Sri Lanka, and Euronet has been at the forefront with its DIPC delivering secure faster payments technology to leading banks and innovative customers in the region.

“ComBank Q+ will transform the scan-and-pay experience of the customer and also the merchants receiving payments.”