Redefining payments with Cargills Bank Tapit

In a bold move to revolutionise the payment experience in the country, Cargills Bank in partnership with Mastercard, introduced ‘Tapit’ – Sri Lanka’s first-ever contactless sticker payment card, making payments faster, simpler, and more convenient for customers. Tapit is available in both debit and credit card forms, allowing users to seamlessly conduct transactions by simply tapping their sticker card at the merchant point-of-sales (POS) terminal.

Powered by Mastercard PayPass, Tapit leverages the latest advancements in Near Field Communication (NFC) technology, providing customers with a highly secure and efficient way to make payments. Embedded with cutting-edge EMV chip technology and encrypted for enhanced protection, the contactless sticker card ensures every transaction is as secure – if not more – than traditional card payments.

Tapit is designed for unparalleled convenience. Customers can affix the sticker to their phone or any commonly carried item, eliminating the need to carry a physical payment card – or a wallet. With just a quick tap at the merchants POS terminal, payments are completed in seconds. Additionally, customers will receive instant SMS notifications for each transaction, adding another layer of security and control.

Commenting on the launch, Cargills Bank PLC Managing Director Senarath Bandara stated, “Introducing ‘Tapit’ is a significant step in our journey to engage customers with innovative technology. This product aligns perfectly with our vision of providing forward-thinking solutions that make banking simpler and more accessible. With Tapit, we are offering our customers a payment method that fits seamlessly into their daily lives.

Customers can use Tapit as a primary card or as a supplementary card, setting a lower balance for everyday spending or specific uses such as travel. Parents may also issue Tapit to their children, enabling them to manage day-to-day expenses in a controlled manner while still benefiting from the security and oversight features, such as the transaction notifications. This versatility makes Tapit an ideal solution for both convenience and financial management.”

Tapit represents Cargills Bank’s commitment to driving digital transformation in the banking industry, enhancing customer experiences, and staying ahead in the fintech landscape.

Tapit – Just make it a habit and experience the next era of payments today.

Apply for a card and for more information, visit www.cargillsbank.com/tapit.

About Cargills Bank

Cargills Bank PLC is a licensed commercial bank incorporated in Sri Lanka, having commenced business operations in June 2014. The Bank’s operations comprise of Retail Banking, Agriculture & Micro Finance, SME Banking, Corporate Banking, International Trade and Treasury Operations.

Cargills Bank aspires to provide innovative and convenient banking solutions leveraging on the reach and opportunities afforded through the Cargills ecosystem. In addition to branches, ATMs and digital channels, Cargills Bank accounts are also accessible through Cargills Retail outlets islandwide and customers enjoy free cash deposits and withdrawals at all 530 Cargills Food City outlets courtesy of the supermarket banking service. The Bank also focuses towards empowering underserved agricultural and entrepreneurial communities across the country, supporting these sectors with concessionary financing programs and working capital to expand their operations into sustainable enterprises.

The bank is headquartered in Colombo 03, and maintains branches at Maitland Crescent, Maharagama, Old Moor Street, Wattala, Kandy, Peradeniya, Nuwara Eliya, Chilaw, Fort, Rajagiriya, Ratnapura, Thanamalwila, Matara, Galle, Kurunegala, Kaduruwela, Vavuniya, Chunnakam, Jaffna Nawalapitiya, Negombo, Anuradhapura and Bandarawela. The Bank’s branch network is bolstered by 29 Cargills Bank MINI service points located within selected Cargills Food City outlets that carry out banking functions such as account opening and customer support.

Cargills Bank is rated A(lka) by Fitch Ratings Lanka.