NSB and Mastercard partner to pioneer ground-breaking solution

NSB Card Centre Manager Kamal Wijewardena, Mastercard Sri Lanka Director Mahesha Amarasuriya,  Country Manager Sri Lanka and Maldives Sandun Hapugoda, TRCSL Chairman Dr Dharmasiri Kumaratunge, Pronto SoftSoftware Senior Software Engineer Mahesh Maduranga, NSB GM/CEO  Shashi Kandambi, and CIO Dr Amal Illesinghe

- Pic by Shehan Gunasekara -

• Introduce first-ever Pay by Account technology-backed Mastercard Platinum Debit Card

The National Savings Bank (NSB), has joined forces with Mastercard to introduce the first-ever Pay by Account (PbA) technology-backed Mastercard Platinum Debit Card in Sri Lanka. 

This collaboration extends the reach of the NSB Pay App globally, promising an enriched user experience and enticing rewards for its esteemed customers.

The launch is part of NSB’s efforts towards  a significant technological overhaul and setting new standards in customer convenience and technological advancement to drive progress in Sri Lanka›s banking landscape.

This brand-new product was officially launched with the participation of the senior officials of NSB and Mastercard, as well as invited customers, which marked a significant milestone in Sri Lanka›s banking industry. 

Mastercard Sri Lanka and Maldives Country Manager Sandun Hapugoda, said: “Mastercard is thrilled to have NSB as a long-standing partner and is committed to supporting the bank in its digital-first journey. The launch of Pay by Account will not only play a role in powering higher digital payments adoption but will also provide cardholders more choice, security, and benefits. With its innovative products and solutions, Mastercard is well-positioned to meet the needs and aspirations of Sri Lanka’s connected consumers, who seek immediacy, safety, and convenience in their banking and payment services.”

NSB General and CEO Shashi Kandambi emphasised the NSB›s commitment to leveraging the state-of-the-art technology to enhance customer experience and embrace the latest innovations that unite the world as a global family. NSB firmly believes that such advancements not only promote technological literacy among the people of the country but also benefit all stakeholders involved.

The introduction of the innovative Pay by Account technology-enabled Mastercard Debit Card represents a significant leap in digital payment capabilities, opening doors to a myriad of opportunities within the payment ecosystem. NSB leads the Sri Lankan market by unveiling the first-ever virtual card with comprehensive digital capabilities, tailored to meet the evolving needs of both digital-savvy and newfound users of digital banking services.

A cornerstone of this technological advancement is the implementation of Mastercard Pay by Account technology, powered by Mastercard Digital Enablement Services. This empowers NSB customers to tokenize various financial instruments, facilitating seamless payments in the open-loop payment ecosystem through e-commerce, QR, and Contactless.

The first customer onboarding was conducted, with Technology Ministry Secretary and TRCSL Chairman Dr. Dharmasri Kumaratunge as the inaugural customer, and Senior Software Engineer Mahesh Maduranga Liyanage as the second customer.

As NSB Pay App users are now able to engage in e-commerce transactions, and sooner with QR payments, and Contactless (Tap & Pay) Transactions, the overall convenience and inclusivity of digital payment services for all Sri Lankans are greatly enhanced.

As part of the inaugural offer, National Savings Bank will launch the enticing «NSB-PBA

Cashback» Where the first 2000 customers will get a Rs. 500 cashbacks when they sign up for a Virtual Card on the NSBPay app and make their first utility bill payment to Electricity or Water between 22 March and 14 April 2024.

The collaboration between NSB and Mastercard signifies a commitment to innovation and a drive towards digital transformation in Sri Lanka›s banking landscape. It is a testament to the shared vision of both entities to empower individuals and businesses with secure, convenient, and cutting-edge payment solutions.