Commercial Bank launches direct payment service

Tuesday 16 November 2021 10:16 CET | News

Commercial Bank has launched, in cooperation with General Tax Authority (GTA), a direct payment service from the taxpayer’s account to the authority’s account to facilitate the procedures for paying tax obligations for the bank’s customers. 

This solution benefits all Commercial Bank customers in their tax payments as they can enquire current tax outstanding and make payment online in a secure way through Corporate Internet Banking (CIB) platform of the bank.

Currently, Corporate Customers settle tax invoices by initiating funds transfer to GTA’s account. This process does not support TIN or tax invoice validation.

Commercial Bank, in coordination with GTA, has completed an integration to allow CB customers on CIB to enquire about their GTA tax invoices and make the required payments online. CIB will also provide real time update to GTA of the payment status. All payments made on CIB via this service will be auto reconciled at GTA. The service is available to all Public and Private sector Corporate and Enterprise customers of the bank.

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Keywords: banks, product launch, payment processing
Categories: Banking & Fintech
Countries: Sri Lanka
This article is part of category

Banking & Fintech