Merchant Services

BOC EDC terminal comes with the following added benefits and features

  • All EDC terminals will be installed free of charge
  • Terminals are equipped with Dialog SIM with 3G connectivity and support PSTN connectivity through SLT. The cost of SIM and charges for data usage will be borne by the Bank.
  • Electronic Cash Register (ECR)
  • Settlements will be credited to current account on the following day.
  • Daily statement can be forwarded via e-mails indicating the transaction amounts for the reconciliation purposes.                       
  • Technical services will be available on 24*365 basis. The technical support and training facilities can be arranged through our field officers and branches at any time.
  • The stationary requirements (Paper Rolls, Stickers, etc) will be provided frequently free of charge.

 

 

 

 

 

 

 

 

 

 

Rates

  • The merchant commission rate applicable is 2.5% (This is dependent on the monthly turnover of the merchant)

 

Fees

  • If the monthly turnover of the EDC machine is less than Rs 300,000/- the rental charges of Rs.3000/- will be charged from the merchant and if surfaces Rs.300,000/- no charges is applied whatsoever

 

 

 

 

 

 

 

 

 

 

Eligibility Criteria

  • The following are the requirements to affiliate as a merchant.
  • Legally registered in Sri Lanka or in Republic of Maldives as a business entity.
  • Not reported in CRIB.
  • Not listed in the Visa and Master Fraud risk alert systems.
  • Registered for a legally valid purpose.
  • Sound financial position and cash flow position.
  • High integrity of key persons.

 

 

 

 

 

 

 

 

 

Sole proprietor

  • Affiliation form (has to be signed by the proprietor on the business seal)
  • Agreement (has to be signed by the proprietor on the business seal and witnesses by two personnel)
  • Copy of NIC
  • Copy of Business Registration
  • KYC Form
  • Charges Letter (has to be signed by the proprietor on the business seal), If required


 

Partnerships

  • Affiliation form (has to be signed by two partners on the business seal)
  • Agreement (has to be signed by two partners on the business seal and witnesses by two personnel)
  • Copies of NICs
  • Copy of Business Registration
  • KYC Form
  • Charges Letter (has to be signed by two partners on the business seal), If required


 

Limited liability companies

  • Affiliation form (has to be signed by at least two designated directors onthe company seal as per resolution)
  • Agreement (has to be signed by two directors on company seal and witnesses by two personnel)
  • Certified copy of the Memorandum of Association / Articles of Association
  • Certified copy of the Certificate of Incorporation under the Companies Act No. 7 of 2007
  • Certified copy of the form related to the change of Directors/Secretary and particulars of Directors/Secretary Form No. 1 & Form No. 2)
  • KYC Form
  • Board Resolution on the company letter head (has to be signed by Two directors on the company seal and the Secretary on secretary seal.) , Certified copy of the registration form/gazette/licence, Charges Letter (has to be signed by at least two directors on the company seal as per resolution), If required


 

Societies, clubs, govt. organizations and statutory bodies

  • Affiliation Form
  • Agreement
  • Resolution
  • Request Letter
  • KYC Form
  • Charges Letter (If required) 

 (Affiliation form, agreement and the other documents has to be signed by the officers designated in the resolution)


 

Contact Details

Marketing & Merchant Acquiring,
BOC Credit Card Centre, 
Ground Floor, World Trade Centre,
Bank of Ceylon Mawatha,
Colombo: 01
Manager – Merchant Acquiring – 0112205621
Assistant Manager - Merchant Acquiring – 0112205610
Apply Online