The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) and Mastercard, have launched co-branded credit cards for the BGMEA members, and prepaid cards for more than 4.5 million readymade garments (RMG) workers. Mutual Trust Bank will issue the MasterCard World credit cards and the prepaid cards by Southeast Bank Limited (SEBL). The prepaid cards will help disbursement of garment workers' wages, the BGMEA said Saturday. The RMG workers of the BGMEA enlisted factories will get the SEBL MasterCard prepaid card, which is designed to provide more convenient, safer, and smarter options for payments rather than cash, it added. Mastercard World credit cards are designed for the BGMEA members and senior executives of its member factories, allowing cardholders to conduct local and cross-border transactions with ease and convenience. Read more: Mastercard, Visa suspend operations in Russia after invasion Cardholders can carry out dual-interface global transactions, which also support ATM, POS, QR, and e-commerce payments along with usage of travel lounge services locally and internationally. BGMEA President Faruque Hassan, Mastercard Country Manager Syed Mohammad Kamal, Mutual Trust Managing Director and CEO Syed Mahbubur Rahman, and SEBL Managing Director M Kamal Hossain signed the agreement. BGMEA directors Barrister Shehrin Salam Oishee, Tanvir Ahmed, Mijanur Rahman, Neela Hosna Ara; Chair of BGMEA Standing Committee on Press, Publication and Publicity Shovon Islam, and Chairman of BGMEA Standing Committee on UD-Woven and Knit Md Nurul Islam were also present. Read more: Nagad launches service for paying Mastercard Credit Card Bill  

Cellfin, omni-channel banking app of Islami Bank Bangladesh Limited (IBBL), has launched a Mastercard dual currency prepaid card. The users will be able to buy from any local or foreign e-commerce sites in both foreign currency and taka. Read Mastercard, Brac unveil Mastercard Millennial Titanium Credit Card Mohammed Monirul Moula, managing director and chief executive officer of IBBL, inaugurated the card service on June 22 at a Dhaka hotel. The card enables fund transfer to Mastercard cards or accounts of any bank connected to the NPSB/BEFTN/RTGS network. Read bKash customers can now add money from 29 banks, Visa, Mastercard Having an IBBL account is not necessary for this card. One may avail of the card by registering with Cellfin, said a media statement Saturday.

Bangladesh’s first-ever social media prepaid card was launched on Wednesday, aimed at encouraging women to start Facebook-centric businesses. MasterCard, Mutual Trust Bank, and e-Courier have jointly launched the prepaid card at an event in the capital. The card is designed specifically for women entrepreneurs so that they can benefit from Facebook-centric businesses. READ: Contactless payment service to be available for debit, prepaid card users: BB The card has a dual currency facility for entrepreneurs to use their Facebook page without any third-party payment assistance. The e-courier will transfer funds directly to the client's prepaid card, so women entrepreneurs do not have to go to the e-courier to collect cash in person. This card includes special discounts on e-commerce portals, jewelry shops, groceries, and clothing stores, specially designed for cardholders. Read BYLC Ventures opens applications for the 5th cohort Cardholders will have a dual currency transaction facility at more than 5,000 outlets in Bangladesh, Bogo (buy-one-get-one) at hotel locations, dining and lifestyle offer an easy subscription on streaming platforms (Netflix, Amazon Prime, etc.), MTB Green Pin services, SMS banking, POS services, ATM and QR-code transaction facilities. Biplob Ghosh Rahul, Chief Executive Officer (CEO) of e-Courier, said, “E-Courier is pleased to launch for the first time a co-branded prepaid card for women entrepreneurs in a joint venture with MasterCard and Mutual Trust Bank. E-Courier is the first private logistics and courier brand in Bangladesh, which has been supporting women entrepreneurs and their endeavours through sophisticated and specialized logistics solutions for the past eight years. Read Sonia Bashir, 2 other Bangladeshis among 100 Global Tech's Changemakers Syed Mohammad Kamal, country manager, MasterCard Bangladesh, said, “The pandemic has had a significant impact on consumer spending growth on e-commerce channels like Facebook.” The women entrepreneurs are contributing to the F-Commerce sector in Bangladesh that is why this card was introduced, he said. Syed Mahbubur Rahman, MD & CEO, Mutual Trust Bank (MTB), said, “MTB has always played a leading role in implementing innovative payment solutions. Read BUILD's initiative to harmonise terminology around women entrepreneurs “Introducing co-branded prepaid cards jointly will ensure various financial benefits. This will further facilitate the expansion of trade and commerce in Bangladesh's growing F-commerce sector,” he added.