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| Sunday, 28 March 2004 |
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| News Business Features Editorial
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Seylan Bank to issue 'instant' debit cards by Hiran H. Senewiratne Seylan Bank (SB) intends to increase the debit cards market share in the business with the introduction of 'over the counter' card issuing facility. Under this system, the bank has set a target to issue more than 85,000 visa electron debit cards within this year, said Assistant General Manager, Seylan Card Centre, Tissa Nanayakkara. "Non existence of credit risk involvement inspired them to introduce this system, which would assist the bank to provide a convenient and efficient service to customers in a big way," he added. It would help customers to obtain a debit card over the counter with the personal identification number, which would be valid three days after its issue, he added. Under the previous system, customers had to visit the bank many times to obtain this facility, which took many weeks to release it. The total number of cards issued by the bank so far was around 122,000 and, last year alone, it had issued 65,000 cards. The bank issued 250 debit cards for a day through its 108 branch network and, under the new system, it would issue more than the previous years, Nanayakkara said. The SMART ATM holders of the bank would also be benefited from the available facilities. The issue of SMART cards had been suspended by the bank with the introduction of the debit card a few years ago. However, free debit cards were issued every month through three of its branches to promote it and, to make it more popular, the bank would introduce many unique features shortly. The bank would also shortly introduce SMS alert message security system and customer loyalty programme as a part of its promotional campaign. SMS's alert message system the latest facility, would prevent the cardholder falling into unnecessary debt situations, with the credit position being informed over a mobile phone by way of SMS messages, which the bank had linked with main mobile phone operators in the country including Dialog, Mobitel and Celltel for the purpose. Since the company had an 8 per cent credit card market share in the country, the bank would expect a big increase with these promotional campaigns. |
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| Editorial | Security Produced by Lake House |
