The Commercial Bank of Ceylon has become the first bank in Sri Lanka to offer Near Field Communication (NFC) enabled credit cards of both Visa and Mastercard, two of the leading brands in the sphere. Formally launched in Colombo last week, Commercial Bank’s Visa Infinite, World Mastercard and Visa Signature branded NFC credit cards are targeted at premium customers, the Bank said.

Near Field communication is a set of communication protocols that enable the chip mounted on the credit cardto establish contactless communication with a portable device such as a smartphone or NFC enabled point-of-sale unit, by bringing the twowithin about 4 centimetres of each other.

NFC enabled credit cards are more secure than those with magnetic strips, and their contactless communication capability means that holders of NFC-enabled cards need not relinquish their cards to third parties when making a payment via a terminal or device with the same technology.