Visa, the world's leading payment technology company, today announced plans to open a local liaison office in Dhaka, the capital of Bangladesh. The new office is likely to open before the end of this year.
Once the office opens, Visa staff will launch new services in the local market and conduct responsible business programs and contribute to the economic growth of one of the world's fastest growing economies. The launch of an office in Bangladesh is part of Visa's decades-long investment in pioneering the process of digital payment systems in the country. And this investment has played an important role in strengthening the economic growth of the country and building a digital Bangladesh.
Chris Clark, Regional President, Visa Asia Pacific, said, “Our business activities have been instrumental in building the country's digital payment ecosystem since its inception in Bangladesh in 1988. Over the past few years, Visa has taken a leading role in the country's market by introducing state-of-the-art tap and pay touchless cards from Magstripe (Magnetic Stripe) cards. Currently, we have partnerships with about 50 banks and leading fintech companies; Who work with more than a thousand different types of merchants to ensure easy payment to cardholders in business transactions. We believe that this is the right time to start Visa's own office in this country with dedicated staff and provide the growing digital payment facility in Bangladesh.
He added, ‘Visa is committed to the digitization of Bangladesh so that users can easily and securely make digital payments at home or abroad. We are really optimistic about the potential of Bangladesh in this sector and our expectation is that the local liaison office will help us to drive our market growth in the days ahead. '
As the leading digital payment technology company in Bangladesh, Visa has worked in this country for more than three decades. In recent years, Visa has introduced contactless cards for the first time in Bangladesh and introduced open-loop, interoperable QR payments in line with BanglaQR specifications in the country. Visa has teamed up with large fintech and e-commerce companies to innovate cards on file, wallet loads, and other payments.
The company is working with regulators and relevant authorities to get the necessary permits to open a local liaison office in Bangladesh before the end of this year.