Mutual Trust Bank (MTB) yesterday joined hands with UnionPay International to jointly launch debit and credit cards alongside QR code payment, e-wallet and digital card services for the first time in Bangladesh.
The virtual services allow payments through mobile phones, taking away the need for physically carrying cards. MTB signed the relevant agreements with UnionPay International in Shanghai, China in March.
Addressing the ceremony at MTB Tower in Dhaka, Cai Jianbo, CEO of UnionPay International, said the China-based payment solutions were in use in 170 countries. He said the cards could be used internationally for smoother transactions daily.
MTB has been trying to launch the card since March to promote digital payment services in order to make clients' lives easier, said Anis A Khan, the bank's managing director.
People nowadays have wallets full of cards of different banks but UnionPay will give them relief from physically bearing cards, he said.
MTB says it initially plans to run a pilot programme, issuing only UnionPay debit cards on a limited scale, and will go for full fledged promotions from December. MTB Chairman Md Hedayetullah and directors Rashed A Chowdhury and MA Rouf were present at the event among others.