Eastern Bank Ltd (EBL) introduces one of the most popular global card brands UnionPay in the country, which is the number one in Asia-Pacific region and globally the second in terms of annual purchase transaction.
The UnionPay credit card was formally launched by Eastern Bank Ltd on Sunday evening at a gala ceremony held at the Westin Dhaka hotel.
Li Jiming, ambassador of China to Bangladesh, was the chief guest on the occasion.
Eastern Bank's Managing Director and CEO Ali Reza Iftekhar, Head of Retail and SME Banking M Khorshed Anowar and General Manager of UnionPay International Ashutosh Agarwal addressed the gathering of diplomats, top corporate personalities, social and business elites at the ceremony.
Chinese ambassador in his speech said, "The launch of UnionPay credit card by EBL marks another milestone in the progress of financial cooperation between China and Bangladesh."
Terming the launching moment as historical Ali Reza Iftekhar said, "UnionPay credit card we believe will be a great support for the growing business relation with China and other South East Asian countries where it has high acceptance."
Ashutosh Agarwal in his speech said, "Our new product, UnionPay QuickPass credit card is a contactless payment product that enables cardholders to make fast and easy tap-and-go payments in compliance with the EMV International standard, which offers high security and safety to our cardholders."
Initially, UnionPay cards issued by EBL will be accepted in over 200 ATMs of the bank and very soon in over 3000 EBL POS at different merchant outlets within the country.
EBL UnionPay cardholders will enjoy all usual EBL card product features including ZIP, EasyCredit and Want2Buy.
Additionally, cardholders will continuously receive different discount facilities and privileges offered by both EBL and UnionPay throughout the year. The card is accompanied by triple insurance coverage including accidental coverage up to BDT 7 lakh.
UnionPay cards are accepted at over 27 million merchants and more than 1.7 million ATMs across 177 countries and regions worldwide. Almost all merchants and ATMs in mainland China accept UnionPay cards. It has partnership with more than 2000 institutions globally.
Globally, UnionPay Premium cardholders are generally entitled to enjoy up to 30 percent off on shopping, dining, theme park, car rental, hotel booking, up to 20 percent off on Priority Pass Lounge Membership, saving up to 30 percent on flights when paid at Trip.com among many other privileges.
To date, more than 7.5 billion UnionPay cards are issued in 55 countries and regions, among which over 120 million are issued outside mainland China. Its global purchase transaction now reaches at USD 98.3 billion.