ComBank upgrades ATM network

The Commercial Bank of Ceylon has completed the upgrade of its automated teller machine (ATM) network in Sri Lanka to EMV Chip capability, significantly enhancing security against fraud by conforming to the EMV standards of the various card brands that are accepted by the Bank's ATMs.

The Bank said every one of its 630 ATMs now accept and process transactions based on Smart Card Integrated Circuit (IC) data in addition to magnetic strip data.

Also known as 'chip cards,' these smart cards make cloning infeasible, thereby significantly increasing the security level of the card when transacting.

When ATM networks of banks become wholly smart card enabled, it becomes impossible for fraudsters to perform fraudulent transactions through cloned cards. If any frauds are perpetrated on these ATMs, the liability of such frauds will become the responsibility of the card issuing banks.

"Commercial Bank is committed to constantly upgrade the ATM network to enhance security and convenience for its cardholders," the Bank's Assistant General Manager - Information Technology Krishan Gamage said. "The conversion of our ATM network to EMV technology is one example of this commitment."

Holders of Commercial Bank's standard ATM cum Shopping Debit Cards can withdraw up to Rs 40,000 from the Bank's ATMs per withdrawal. The Bank also offers customers the option of setting their own ATM withdrawal limits up to a maximum of Rs 100,000 a day, and a point-of-sale limit of up to Rs 500,000.