Bangladesh has taken a significant leap towards a truly cashless, digital economy with the official launch of Google Pay today.
The globally renowned digital payment service, operating through 'Google Wallet', promises to revolutionize how transactions are made across the country.
The highly anticipated service has been introduced through a groundbreaking collaboration between Google, City Bank PLC, and global payment giants Mastercard and Visa. This makes City Bank the pioneering financial institution in Bangladesh to offer Google's cutting-edge digital wallet services to its customers.
The momentous inauguration ceremony took place today at The Westin, Dhaka. The event saw the esteemed presence of Bangladesh Bank Governor, Dr. Ahsan H. Mansur, who warmly welcomed Google Pay's arrival.
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Governor Mansur expressed his optimism, stating that such advancements bolster Bangladesh's appeal to both local and foreign investors, signaling a vibrant economic landscape.
Key figures present at the launch included Mashrur Arefin, Managing Director and CEO of City Bank; Shammi Quddus, Group Product Manager at Google Payments, Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh, and Sabbir Ahmed, Country Manager of Visa Bangladesh, alongside other senior officials from all collaborating entities.
With this new service, City Bank customers can now seamlessly link their Mastercard or Visa credit and debit cards to their Google Wallet. This integration empowers them to conduct fast, secure, and truly contactless payments by simply tapping their Android smartphones at any NFC (Near Field Communication)-enabled Point-of-Sale (POS) terminal, whether within Bangladesh or abroad.
Google Pay is built on a foundation of advanced encryption technologies, ensuring robust protection of user data and making every digital transaction secure and reliable.
The convenience it offers is unparalleled: users are no longer burdened with carrying multiple physical cards. Their smartphones transform into versatile digital wallets, capable of handling everything from everyday shopping to international air travel, streamlining the payment experience like never before.
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The introduction of Google Pay marks a pivotal moment in Bangladesh's digital transformation journey, setting a new benchmark for convenience, security, and efficiency in the nation's financial ecosystem, said the speakers at the event.