Visa to Expand Investment in Bangladesh's Digital Payments Sector

Prime Minister Tarique Rahman on Tuesday welcomed greater private-sector partnership in Bangladesh's digital financial services as Visa expressed interest in expanding its investment and operations in the country.

Visa Asia-Pacific President Stephen Karpin met the Prime Minister at the Cabinet Division of Bangladesh Secretariat where they discussed investment, digital payments and technology.

The Prime Minister invited Visa to set up a technology development or global service centre in Bangladesh to create jobs. He stressed that cooperation from international firms like Visa is key to strengthening the country's digital economy and technological capacity said PM's Deputy Press Secretary Shahadat Shadhin.

The two sides also discussed building a digital payment system to help Bangladeshi freelancers safely bring home their foreign earnings.

Karpin said Visa sees strong potential in Bangladesh's digital financial services and innovation sectors. He added that Visa wants to encourage non-card bank account holders to adopt card-based and digital payments through investment and technology partnerships.

"Visa is also interested in using artificial intelligence to make Bangladesh's banking and digital payment systems safer with easier and faster" Karpin said.

Discussions also covered expanding Visa card use in public services such as metro rail, toll plazas and expressways. Karpin further noted Visa's interest in supporting Bangladesh's digital and creative economy.

The meeting was attended by PM's Adviser on ICT Rehan Asif Asad, BIDA Executive Chairman Ashik Chowdhury, Bangladesh Bank Governor Md Mostaqur Rahman, and senior Visa officials.