Sampath Bank launches Visa Business Debit Card

Sampath Bank has announced the launch of Sri Lanka’s first Visa powered business debit card linked to a corporate account – the Sampath Bank Visa Business Debt card - to help businesses of all sizes gain more control over their expenses.

The bank’s business customers will now be able to move away from cash and provide separate Debit Cards to their employees for day-to-day expenditure. They can set monthly transaction limits to each individual card and link the cards to their preferred company account with Sampath Bank. The chosen account will be directly debited each time an employee makes a payment using the card. Businesses can consolidate all spending information using the detailed electronic reports it offers and simplify their payments, bookkeeping, reporting and monitoring processes, the bank said in a media release.

This new business debit card from Sampath Bank is set to encourage more businesses to go digital with their expenses, in line with the Government and the Central Bank’s efforts to drive the adoption of cashless payments in the country.

In his comments on the new development, Tharaka Ranwala, Senior Deputy General Manager - Operations and Group Chief Marketing Officer, Sampath Bank PLC, said, “We are delighted to help businesses of all sizes go digital with their daily expenses with the launch of the Sampath Bank Visa Business Debit Card. Moving away from cumbersome cash transactions, businesses can now provide staff members with individual debit cards to be used for company expenses. The cards are linked to the customers’ preferred Sampath Bank accounts which get debited every time a transaction is made using these cards. We look forward to seeing our business customers experience the convenience and security offered by this solution to simplify their cash flow management as well as accounting, reporting and monitoring.”

The Sampath Bank Visa Business Debit Card joins an extensive suite of corporate cash management solutions offered by Sampath Bank aimed at helping businesses around the island manage their cash flows more efficiently, reduce processing costs and save time.

Sampath Bank’s Vishwa Corporate online banking portal enables universal financial supply chain management through responsive web interfaces, customizable formats and web services that directly link the customer’s corporate ERP system to the banking system.