ComBank cardholders redeem Max Loyalty points worth Rs. 12 m in December

The Commercial Bank of Ceylon experienced a spike in the redemption of Max Loyalty Rewards points by the bank’s credit and debit cardholders in the last two months of 2018, with the highest number of redemptions happening in December. 

In that month alone, cardholders redeemed the equivalent of Rs. 12 million as festive shopping got in to full swing,achieving a one-day peak of Rs. 1.1 million on 31 December 2018,  the bank said. 

In November last year, the bank launched a campaign titled ‘Reward yourself to the MAX’ together with the launch of a dedicated website to enable tracking and redeeming of points accumulated under the bank’s Max Loyalty Rewards program. This was promoted as a convenient way for Commercial Bank card users to earn, track and redeem their loyalty points.

The website at https://maxrewards.combank.net/ provided access to products and services from more than 100 local merchant partners and many more international merchants in a number of categories including flights, hotels and excursions, clothing and accessories, electronics, restaurants, bookshops, car care and lifestyle products, supermarkets and online channels from which cardholders could choose to redeem their points,and decide on a host of redemption options.

Once customers selected a local merchant,they could redeem points and apply for vouchers which were then delivered to their doorstep within five working days.

Commenting on the increase in the redemption of points, Commercial Bank’s Deputy General Manager – Marketing Hasrath Munasinghe said: “Clearly the launch of the new website provided the stimulus for our cardholders to make the maximum use of their points, demonstrating the importance of the efforts the bank makes to facilitate convenienceand value to its credit and debit cards.” 

Commercial Bank was the first bank in Sri Lanka to offer loyalty rewards for both credit and debit cardholders under its Max Loyalty Rewards scheme. The bank was also a pioneer in extending promotional discount offers, which were traditionally only offered for credit cards to its debit cards.

Commercial Bank cards are the fastest growing cards in Sri Lanka and enjoy market leadership in credit and debit card cumulative point-of-sale usage. The bank offers a variety of Credit Cards in the Classic, Gold and Platinum tiers of Visa and Mastercard, in the Gold and Platinum tiers of UnionPay, as well as Visa Signature, World Mastercard, Visa Infinite, and UnionPay Diamond cards in the premium segment. The cards are equipped with ‘Tap n Go’ NFC technology and are backed by a strong NFC Point-of-Sale (POS) network.

The only Sri Lankan bank to be ranked among the world’s top 1000 banks for eight years consecutively, Commercial Bank operates a network of 266 branches and 830 ATMs in Sri Lanka. The bank has won multiple international and local awards in 2016 and 2017 and over 30 international and local awards in 2018.