Mastercard Incorporated MA recently extended its alliance with Central Bank of Sri Lanka (CBSL) in a bid to accelerate digital transactions across Sri Lanka. A case in point is Mastercard’s extension of support to the ‘Cash Wade’ campaign rolled out by CBSL in March. Notably, shares of Mastercard gained 1.1% in the last day’s trading as of Sep 24.
In addition to supporting the campaign that demonstrates the advantages of digital transactions over physical handling of cash, Mastercard has commenced another initiative for backing consumers and businesses across Sri Lanka in adopting digital transactions.
It has rolled out a cashback rewards promotion, which can be availed at the time of utility bill payments. Payments of INR 1,000 and above to selected utility service providers made by cardholders will be entitled to a cashback benefit of INR 250. To name a few, Ceylon Electricity Board (CEB) and Sri Lanka Telecom are