ComBank, Payable launch Soundbox to expand digital payments for SMEs

Commercial Bank of Ceylon has announced a strategic partnership with Payable to roll out Soundbox, a digital payment device aimed at enabling small and medium-sized enterprises to accept cashless payments more efficiently.

The Soundbox solution combines affordability with accessibility, offering small business operators a practical tool to transition from cash-based transactions to digital payments. The device is designed to be user-friendly and cost-effective, addressing a key gap in Sri Lanka's digital payment infrastructure for the SME sector.

The partnership reflects growing efforts by financial institutions to expand digital payment adoption across the island, particularly among informal and small-scale businesses that have historically relied on cash transactions. By introducing Soundbox, ComBank and Payable aim to facilitate financial inclusion and enhance transaction security for small business owners.

The initiative comes as Sri Lanka continues to strengthen its digital economy infrastructure. Digital payment solutions for SMEs are seen as crucial to improving business efficiency, reducing transaction costs, and generating better financial data for credit assessment and business planning.

ComBank has not disclosed specific launch dates or pricing details for the Soundbox service at this stage.