Eastern Bank brings social currency card for youth

Eastern Bank PLC (EBL), in strategic collaboration with The Yours Truly Limited and global digital payment solutions provider Visa, has launched "SkyFlex Visa Prepaid Card", a product tailored specifically for digitally savvy youth.

Linked to the Flex app, this prepaid card offers dual-currency functionality, contactless payment capability, e-commerce compatibility, and a distinctive rewards system named FlexScore, which enables cardholders to earn cashback at select merchants.

Ali Reza Iftekhar, managing director of the bank; Sabbir Ahmed, country manager for Bangladesh, Nepal and Bhutan at Visa; and M Jahangir Alam, chairman of The Yours Truly Limited, jointly unveiled the card at a ceremony held at Le Méridien Dhaka today, according to a press release.

Commenting on the launch, Iftekhar stated, "This innovation reflects EBL's commitment to developing secure, digital-first financial solutions that foster inclusion and empower the next generation."

Ahmed added, "This launch underscores Visa's continued dedication to equipping young people with secure, flexible, and technologically advanced payment tools."

"We believe SkyFlex will not only promote financial inclusion but also transform the way young Bangladeshis engage with digital financial services, making daily transactions more seamless and rewarding," he continued.

Alam commented, "With the launch of this social currency-based card, in partnership with EBL and Visa, we aim to strengthen the creator economy by equipping aspiring and established creators with the financial tools necessary to grow and monetise their talents effectively."

Verified users can register directly through the dedicated app, eliminating the need for a physical branch visit.

Ahmed Shaheen, additional managing director of EBL; M Khorshed Anowar, deputy managing director; Mahzabin Ferdous, managing director of The Yours Truly Limited; and Breity Sabrin, chief executive officer, along with senior officials from all three organisations, were also present.