Commercial Bank of Ceylon has introduced the Soundbox, an audio-enabled device for accepting digital payments, aimed at micro, small and medium enterprises, the bank announced on Thursday.
The device is powered by Mastercard and was developed with Payable (Pvt) Ltd. It accepts contactless card payments and QR code payments, and announces each successful transaction aloud so merchants can confirm payment without interrupting work. QR payments are credited immediately.
The bank said the device is meant to bring small merchants who rely mainly on cash into the formal digital payments system at a lower cost than traditional point-of-sale equipment.
Commercial Bank Managing Director and Chief Executive Officer Sanath Manatunge said the device removes barriers to entry for small merchants by combining affordability with immediacy.
Payable Co-Founder and Chief Executive Officer Yohan Wijesiriwardane said the partnership aims to ensure no merchant is left behind in the digital economy.
