Sri Lanka’s first mobile wallet featuring ‘Tap & Pay’ technology launched

Marking a significant milestone in Sri Lanka’s digital banking landscape and the advancement of cardless, convenient payment solutions, Bank of Ceylon (BOC) officially launched its latest innovation, the ‘BOC Flex Tap & Pay’ service, at Cinnamon Life, Colombo.The launch ceremony was held under the patronage of Dr. Anil Jayantha Fernando, Minister of Labour and Deputy Minister of Finance and Planning, and (Eng.) Eranga Weeraratne, Deputy Minister of Digital Economy.With the national objective of promoting secure digital payment practices and reducing dependency on cash transactions, Bank of Ceylon has introduced this innovative technology to Sri Lanka in collaboration with Mastercard, according to the Ministry of Digital Economy.The new ‘Tap & Pay’ facility enables customers to make everyday payments quickly and securely by simply tapping their mobile phones on a Point-of-Sale (POS) terminal, eliminating the need to carry or use physical cards. The service also features convenient management of virtual cards, which can be created and managed digitally through the mobile application, along with enhanced security features such as the ability to temporarily suspend card functionality at any time.Speaking at the event, Eng. Eranga Weeraratne, Deputy Minister of Digital Economy, stated that introducing such innovations within the state banking system would significantly contribute to the overall advancement of Sri Lanka’s digital economy.He further emphasized that the Ministry of Digital Economy remains committed to extending its fullest support towards the successful expansion of the ‘BOC Flex Tap & Pay’ technology, particularly by strengthening national digital identity initiatives such as Sri Lanka Unique Digital Identity (SLUDI) and promoting interoperability among digital payment platforms, enabling wider adoption among rural entrepreneurs and small businesses across the country.A significant and symbolic moment of the launch was marked when former Sri Lanka national cricket captain Mahela Jayawardena successfully completed the country’s first-ever mobile-based contactless payment transaction using the ‘BOC Flex Tap & Pay’ technology. This landmark transaction officially marked the beginning of a new era aimed at making the daily financial experiences of Sri Lankans simpler, faster, and more convenient, it said.The event was attended by Kavinda de Zoysa, Chairman of Bank of Ceylon; Y. A. Jayathilaka, General Manager and Chief Executive Officer of Bank of Ceylon; members of the Board of Directors of Bank of Ceylon; senior management of the Bank; Saman K. Wickramasinghe, Acting Chief Digital and Innovation Officer; Sandun Hapugoda, Country Manager for Mastercard Bangladesh, Bhutan, Maldives, Nepal, and Sri Lanka; and Mahesha Amarasuriya, Country Head for Mastercard Sri Lanka.The occasion was also graced by trade union representatives, valued customers of Bank of Ceylon, strategic partners, and a large gathering of distinguished invitees.