The Commercial Bank of Ceylon has rolled out exclusive credit cards for small & medium enterprises (SMEs) in Sri Lanka.

The Mastercard-branded credit card will be issued by the bank to entrepreneurs who meet the standard credit evaluation criteria and falls into the SME category as stipulated by the Central Bank of Sri Lanka (CBSL).

The bank’s Biz Club members will be offered the card under the name ‘ComBank Biz Club SME Credit Card’, while other SMEs will be offered the card under ‘ComBank Business SME Credit Card’ brand.

Commercial Bank will offer a range of additional benefits to cardholders including waiver of the joining fee and annual fee for the first year and free access to its mobile banking services.

Cardholders will also get insurance for overseas travels and free registration for the bank’s online banking platform.

In addition, the cardholders can also avail free registration for the bank’s bulk payments platform Paymaster with a waiver of the user fee for the first month.

SME Credit Cards will also be eligible to Mastercard sponsored international and domestic offers exclusive to that category of cards, the bank noted.

Furthermore, for every LKR400 spent through the card, consumers will receive one ComBank Max Loyalty point.

In 2017, Commercial Bank launched ‘Biz Club’ to offer wide networking opportunities to SMEs. Under the initiative, the bank also provided benefits such as special bank concessions and a personalised Biz Club Debit Card to the members.