Pine Labs Partners with Bank of Ceylon to Power Multi-Currency Travel Card

Global fintech company Pine Labs Limited has announced a partnership with Bank of Ceylon (BOC) in Sri Lanka to power the bank’s new prepaid multi-currency travel card. The initiative leverages Pine Labs’ Credit+ platform, a secure, modular, and scalable card issuance solution, to meet the growing needs of overseas travelers.

The travel card, issued under the Mastercard scheme, enables customers to carry and transact in multiple currencies seamlessly while traveling abroad. Built on Credit+’s integrated architecture, it supports secure onboarding, card issuance, transaction processing, fraud prevention, and compliance with international regulatory standards.

B Amrish Rau, CEO of Pine Labs Limited, said the partnership underscores the strength of Credit+ in delivering robust issuing solutions. “From chargeback management to tokenization safeguards and comprehensive authorization rules, our platform ensures banks and financial institutions can operate securely across jurisdictions. We are delighted to partner with Bank of Ceylon to enhance its card issuance experience.”

Upul Wijayathunga, Assistant General Manager (International), Bank of Ceylon, highlighted the success of the offering: “The BOC Multi-Currency Travel Card provides convenience, safety, and cost efficiency to travelers. We have already issued over 20,000 cards and appreciate Pine Labs’ professionalism and technology in enabling this success.”

As of December 2024, Pine Labs’ Credit+ platform has enabled 71 million accounts for 28 issuers across 16 countries, supporting credit, debit, prepaid, forex, and loyalty programs. Its API-first design makes it versatile for multiple use cases, from consumer payments to corporate cards, co-branded cards, EMI solutions, and digital wallets.