Cargills Bank and Mastercard collaborate to power “Tapit”, Sri Lanka’s first contactless sticker payment solution

Friday, 7 February 2025 00:08 - - {{hitsCtrl.values.hits}}

From left: Cargills Bank Head of Card Services Kaushi Fernando, Managing Director and CEO Senarath Bandara and Mastercard Country Manager for Sri Lanka and Maldives Sandun Hapugoda

The solution will provide a frictionless experience to cardholders with instant payments and real-time SMS alerts

Cargills Bank and Mastercard have collaborated to launch Sri Lanka’s first contactless sticker payment solution. Titled “Tapit”, the new solution promises to revolutionise everyday transactions for Mastercard credit and debit cardholders.

Combining Mastercard’s global expertise in payments with Cargills Bank’s local insights, the “Tapit” solution will not only promote digital payments but will also advance contactless transactions, thereby furthering financial inclusion in the country and supporting its digital transformation.

“Tapit” is an adhesive payment enabled sticker that can be easily pasted on a mobile phone, handbag or any other item of day-to-day use which has a flat surface. It uses advanced Near Field Communication (NFC) technology and is protected by military-grade EMV chip encryption and security protocols.

Cardholders can simply paste the sticker on the item of their choice and begin their contactless payments journey. To complete a transaction, all they need to do is hold the item close to the Point of Sale (POS) device. The transaction is concluded instantly with an SMS alert in real time.

Cargills Bank Managing Director and CEO Senarath Bandara said: “This contactless sticker card represents Cargills Bank’s commitment to innovative banking solutions. Combining state-of-the-art technology with convenience and security, we are enhancing customer experience while advancing Sri Lanka’s digital banking landscape.”

Mastercard Country Manager for Sri Lanka and Maldives Sandun Hapugoda said: “The launch of the first contactless sticker card marks a major milestone in payment innovation in Sri Lanka. Aligned with the country’s digital transformation vision, this solution will provide cardholders a highly secure and frictionless payment experience. Mastercard is delighted to collaborate with Cargills Bank to accelerate Sri Lanka’s transition to a cashless society.”

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