Bangladesh Eastern Bank Limted (EBL) has become the second commercial bank in Bangladesh to issue China's UnionPay card.
A ceremony to launch the UnionPay credit card was held here on Sunday night in presence of local and foreign guests including Chinese Ambassador to Bangladesh Li Jiming.
UnionPay QuickPass Credit Card is a contactless payment product that enables cardholders to make fast and easy tap-and-go payments, according to Ashutosh Agrawal with the UnionPay International.
As of today, he said UnionPay QuickPass is accepted at about 20 million merchants in 41 countries and regions, including 7,000 terminals in Bangladesh.
"Indeed it is a historic moment for us being able to bring the largest card brand of China to Bangladesh," said Eastern Bank CEO Ali Reza Iftekhar.
"So, we are excited to introduce UnionPay cards to Bangladesh. We are committed to contributing to the growth of Bangladesh and are passionate to make banking more smooth, hassle-free, and rewarding for our valued customers."
He said Bangladesh is a very close neighbor of China and geo-strategically located between South Asia and Southeast Asia.
"Considering all these, we thought UnionPay credit card will be a great support for the growing business relation with China and other South East Asian countries where this card has high acceptance," he said.
Chinese Ambassador Li said the launch of UnionPay credit card by EBL in collaboration with UnionPay International marks another milestone in the progress of financial cooperation between China and Bangladesh.
UnionPay is one of the most widely accepted payment network around the world, with card acceptance in over 174 countries and regions, he said.
The successful issuance of UnionPay credit card will surely facilitate international transactions and open up new business opportunities, he added.
Li said China and Bangladesh are growing ever closer in economic and trade cooperation in recent years. "In 2018, our bilateral trade reached 18.7 billion U.S. dollars, up by 16.8 percent over 2017."
In November last year, Mutual Trust Bank (MTB) 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.