Plastic Money

March 13 (LBO) – Visa International will give Sri Lanka’s 1.5 million plastic card market a boost, by issuing mini debit cards with Sampath Bank, officials said. Sampath says the card will be issued to all new customers who open accounts with the Bank and will be available to existing account holders.

They could also place a monthly limit on the value of transactions carried out through the card. Sampath Bank, which issued is own SET branded debit cards when the bank became the country’s first domestic bank to automate its services, has also been a pioneer credit card issuer in Sri Lanka.

“I can still remember the day we launched the platinum card, the first visa platinum card in Sri Lanka. Now a number of others have followed us,” Sampath Chief Executive Anil Amarasuriya said after launching the card at Colombo’s ODEL department store.

“This is another happy occasion because we have done it for the first time. We have few first times and this is one of them.”

Sri Lanka now has more than 500,000 credit cards in issue, widening the country’s electronic payment systems.

“The debit card market in Sri Lanka has been growing fast,” Santanu Mu