SampathCards paves way for innovation and growth with exciting discounts up to 60% this season

Sampath Bank Head of Card Centre Chirath Samarasekara 

is an exclusive interview with Sampath Bank Head of Card  Centre Chirath Samarasekara

Q: SampathCards has consistently led the way in offering the best seasonal deals. What drives the bank to go beyond industry norms to provide such extensive discounts year after year?

 Sampath Bank has always been at the forefront of innovation, having introduced Mastercard credit cards to Sri Lanka in 1989. In 2009, we redefined the market by pioneering a new approach by introducing substantial discounts on the total bill rather than limiting benefits and value creations to select items or categories.

While the focus of the industry is on expanding their cardholder base of a variety of products and services through aggressive canvassing campaigns our philosophy has always been to deliver meaningful benefits that genuinely matter to customers while being transparent on our fees and conditions to attract customers. We take pride in setting industry benchmarks and have maintained this tradition for over 15 years, ensuring our cardholders receive real value with minimal conditions attached.

Sri Lankan consumers have unique spending habits and preferences, which we carefully consider when crafting our offers. This customer-first approach has guided us from the beginning and continues to drive our efforts today, ensuring that every Sampath Cardholder regardless of where they are in the country can enjoy meaningful benefits tailored to their lifestyle.

Q: This year’s Avurudu campaign offers discounts of up to 60% across a diverse range of categories. How does Sampath Bank curate these offers, and what factors influence the partnerships with merchants?

Over the years, we have cultivated strong relationships with a trusted network of merchants who share our vision of delivering exceptional value to customers. These partnerships are built on mutual trust and a commitment to providing exclusive benefits to Sampath Cardholders.

Rather than extending generic discounts available to all customers, we ensure that our offers are exclusive, giving Sampath cardholders an advantage when making purchases. To achieve this, we invest significantly in both marketing and subsidising discounts, ensuring that the savings we extend are substantial and genuinely beneficial.

Our offers are designed to be accessible to cardholders across the country, ensuring that all our customers, regardless of location, can enjoy the same benefits. We serve a diverse customer base and do not limit promotions to any specific region, allowing everyone to take advantage of savings wherever they are.

Q: SampathCards was recently recognised as the Best Commercial Card Issuer in Sri Lanka for the second year running by Visa. What does this recognition mean for the bank, and how does it reinforce your leadership in the commercial payments sector?

This recognition is a source of immense pride for us, as it comes from Visa, the global leader in payments, which holds the largest market share in both Sri Lanka’s retail and commercial card space. While Sampath Bank has been a dominant force in the retail card segment for years, our entry into the commercial card sector was more recent.

As businesses continue to shift towards digital transactions, we have been quick to respond by offering innovative corporate payment solutions that go beyond standard card products. Our ability to tailor solutions to the unique needs of businesses whether through advanced digital platforms or flexible financial tools has been instrumental in achieving this accolade.

This award reinforces our leadership in the market and validates our commitment to empowering businesses with secure, seamless, and efficient commercial payment solutions.

Q: Sri Lanka has been slower to adapt to a fully cashless future despite the global shift towards digital payments. What are the key barriers to this transition, and how is Sampath Bank addressing these challenges?

While significant progress has been made, there are still key barriers preventing a fully cashless economy. Many essential services, including transport, Government payments, and popular tourist attractions, still rely heavily on cash transactions. Until digital payment options become widely accepted across these sectors, the transition will remain gradual. 

Sri Lanka also has a high level of cash accessibility, making physical money the preferred choice for many. Psychological and habitual factors further contribute to this trend, with many individuals feeling more comfortable using cash over digital alternatives.

At Sampath Bank, we have been working to bridge this gap by encouraging digital payment methods. We have introduced initiatives to convert ATM users into debit card payment users, helping them transition towards digital transactions. Through continuous awareness campaigns and attractive incentives, we are guiding customers on a journey from basic debit card usage to e-commerce transactions, contactless payments, and even international transactions.

Beyond cards, we have expanded our digital ecosystem with platforms such as WEPAY Wallet and Vishwa Online Banking, making digital payments more accessible and convenient.  However, for a truly cashless society to emerge, the entire payment infrastructure needs to evolve, with more businesses and services integrating digital payment acceptance across all touchpoints.

Q: Beyond discounts, SampathCards offers flexible payment plans and instalment options. How important are these features in enhancing customer convenience, and do you see demand for more such financial solutions in the future?

Providing financial flexibility has always been at the core of our card proposition, and Sampath Bank is the only card issuer in Sri Lanka that adheres to a transparent four-charge model, ensuring that customers only pay for interest, annual fees, late payment fees, and cash advances, without the hidden fees that are common elsewhere.

Our loyalty program is also unmatched, offering redemption points at a 1:1 ratio, meaning every point earned is equivalent to one rupee. Additionally, SampathCards is the only card that waives the fuel surcharge, allowing customers to save on one of their most frequent expenses.

Beyond discounts, we provide 0% instalment plans across key categories such as education, insurance, auto care, and travel, ensuring that customers can manage essential expenses without financial strain. As financial needs evolve, we remain committed to introducing solutions that make everyday spending more convenient and rewarding.

Q: As customer expectations evolve, how does Sampath Bank ensure that SampathCards remains relevant and continues to offer meaningful value beyond seasonal promotions?

Understanding consumer behaviour is central to our strategy, and throughout the year, we tailor our offerings to align with different needs and spending patterns. For instance, we provide weekly discounts at leading supermarkets, helping customers save on groceries and fresh produce.

During peak travel seasons, we introduce special promotions on hotels and airfare, while back-to-school periods see discounts on books and stationery. Online shoppers enjoy year-round benefits on platforms such as Daraz and various entertainment subscriptions.

Our younger customers, including Gen Z professionals, have distinct spending habits, often prioritising ride-hailing, dining, and streaming services over traditional expenses. Recognising this, we have introduced exclusive benefits on platforms such as Uber, PickMe, and leading cinemas.

For high-net-worth individuals, curated experiences take precedence over discounts, and we ensure that our premium cardholders receive exclusive lifestyle benefits tailored to their preferences, reinforcing SampathCards as a valuable companion for every stage of life.

Q: Concerns over hidden charges often make consumers hesitant to own credit or debit cards. How does SampathCards ensure transparency in its fees and build customer confidence?

SampathCards operates on a straightforward, four-charge structure, setting us apart from other issuers that impose over 20 different fees for various services. We do not charge over-limit fees, balance confirmation fees, card replacement fees, or administrative costs for services such as embassy letters and courier requests.

Our discount programs are equally transparent, with no hidden conditions, for an example if we offer a 10% discount at Cargills Food City, it applies to the entire bill, excluding only legally restricted categories such as tobacco and alcohol. Additionally, our flexible payment due dates allow customers to choose a date that aligns with their financial cycle, making it easier to avoid late payment fees.

By prioritising transparency, we continue to build trust and confidence among our customers, reinforcing our position as a responsible and customer-centric card issuer.

Q: Cybersecurity threats continue to rise, making card fraud and theft major concerns for customers. What measures has Sampath Bank implemented to enhance security and protect cardholders?

 As a bank known for its technological advancements, we adhere to the highest global security standards, including PCI – DSS certification, ensuring that customer data remains protected. We have a dedicated 24/7 monitoring team supported by advanced fraud detection algorithms that have been refined over two decades. This system enables us to detect and mitigate potential threats in real time, providing an additional layer of protection against fraud and cyberattacks.Through these continuous advancements, we ensure that every SampathCards transaction is safeguarded, giving customers the confidence to transact securely locally and internationally.

Q: Looking ahead, what innovations or new initiatives can SampathCards customers expect as the Bank continues to enhance its offerings in the payments space?

Sampath Bank is focused on improving the customer experience by integrating the latest global payment technologies to ensure seamless and secure transactions. As we see the rise of Gen Z, we’re adapting our products to better suit their lifestyles, with new, tailored solutions on the horizon. At the same time, we’re also catering to the growing demand from ultra-high-net-worth individuals by offering exclusive products like the Visa Infinite Metal Card, introduced last year to match their elevated status.

In addition, Sampath Bank is making significant investments in the infrastructure required to expand digital payment acceptance, which will enable merchants across Sri Lanka to adopt the latest digital payment solutions, thereby creating a more robust ecosystem. Building on this progress, we are working closely with regulators to address challenges and advance the country’s digital payment landscape.

Q: Are there any final thoughts you would like to share?

Sampath Bank has always led the way in introducing innovative solutions to Sri Lanka’s card industry, and we remain committed not only to serving our existing customers but also to expanding financial inclusion and fostering market growth.

Our ‘Town on Sale’ initiative is an excellent example, focusing on expanding digital payments in underserved areas by onboarding merchants and offering discounts. On a designated day, leading merchants of the town offer a 25% discount in collaboration with Sampath Bank, creating an incentive for both businesses and consumers to embrace digital transactions.

This initiative has been successfully implemented in Ampara, Anuradhapura, Galle, Jaffna, Kandy, Kiribathgoda, and Matara, and many other locations, earning industry recognition for its impact. Plans are in place to extend these efforts further, with upcoming campaigns in Badulla, Kurunegala and Ratnapura. These areas, despite being economically developed, remain heavily reliant on cash transactions.

Building a thriving digital payment ecosystem requires consumers and merchants to embrace new payment methods, and Sampath Bank is dedicated to making that transition seamless for everyone. We keep working hard to ensure digital payments become a natural part of daily life for all Sri Lankans.