UnionPay credit cards issued on large scale in Bangladesh for the first time
UnionPay International announced on December 24 that it cooperated with the Oriental Commercial Bank of Bangladesh to issue the first UnionPay credit card in the country. The issuance scale of UnionPay card in Bangladesh further expands since the issuance of the first UnionPay card by Mutual Trust Bank in 2018.
To better meet the payment needs of visitors and local residents, UnionPay International has continued to expand its business in Bangladesh. So far, UnionPay is accepted at almost all merchants and 70% of ATM terminals in Bangladesh. Mutual Trust Bank have issued UnionPay cards, mainly debit cards, and launched e-wallets developed with UnionPay standards to provide UnionPay QR code services for local residents. UnionPay became the first international card organization to carry out businesses in QR code payment, virtual card issuance and e-wallet in Bangladesh.
The UnionPay credit card issued this time is a chip card that complies with EMV standards. It can be used in the UnionPay global network and is equipped with contactless payment function. Cardholders can enjoy a safe and convenient payment experience in and outside Bangladesh. With the continuous development of local UnionPay mobile payment services, cardholders will be able to bind the card to various mobile payment products in the future.
UnionPay is now accepted in seven countries in South Asia. The acceptance rate of UnionPay cards in Pakistan and Maldives is close to 100%, and more than 70% of merchants in Nepal accept UnionPay. Many countries have also issued UnionPay cards, and UnionPay has become the second largest bankcard scheme in terms of card issuance in Pakistan. Users of UnionPay mobile payment services can also make tap-and-go or QR code payments in Bangladesh, Sir Lanka, Nepal and Pakistan, etc.
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