BOC EDC Terminal - added benefits & features

  • All EDC terminals will be installed free of charge
  • Terminals are equipped with a 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 the current account on the following day.
  • Daily statements can be forwarded via e-mails indicating the transaction amounts for reconciliation purposes                      
  • Technical services will be available on a 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 & Fees

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 above Rs.300,000/- no charges are applied whatsoever
Eligibility Criteria

The following are the requirements to affiliate as a merchant

  • Legally registered in Sri Lanka or the 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
Documents : Sole proprietor

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 witnessed 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
Documents : 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 witnessed 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
Documents : Limited Liability companies
  • Affiliation form (has to be signed by at least two designated directors on the company seal as per resolution)
  • Agreement (has to be signed by two directors on company seal and witnessed 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 letterhead (has to be signed by two (2) directors on the company seal and the Secretary on secretary’s seal), Certified copy of the Registration Form/gazette/license, Charges Letter (has to be signed by at least two directors on the company seal as per resolution) if required
Documents : 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 1.

Manager (Merchant Acquiring) – 011 220 5621

Assistant Manager (Merchant Acquiring) – 011 220 5610

Download Forms

Sole proprietor

 

Partnerships

 

Limited Liability Companies

How can we help YOU?

  1975 |    +94 11 2204444