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Visa to set up office in Bangladesh

  • Published at 05:16 pm June 17th, 2020
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Its Dhaka office to help propel company’s growth plans for the market

Visa Inc on Wednesday unveiled its plans to establish a country liaison office in the capital.

The new office, expected to be established before the yearend, will staff a team of executives through whom Visa will introduce new services, drive social impact programs and participate in the economic growth of Bangladesh, says a press release.

The country office culminates decades of investments in Bangladesh in pioneering and driving digital payments, which in turn have helped fuel economic growth and played a significant role in the Digital Bangladesh mission.

Visa is working closely with the regulatory agencies in Bangladesh and concerned authorities to acquire requisite permissions and setup the local liaison office before the end of the year.

“Since commencing operations in Bangladesh in 1988, our business has played a distinct part in shaping the digital payment ecosystem in the country. Now as we partner with close to 50 banks, leading fintechs and processors who help cardholders make seamless payments across thousands of merchants, we believe it is an opportune time to leverage the explosive growth of digital payments through a team of Visa executives dedicated to Bangladesh,” said Chris Clark, regional president of the Asia Pacific region of Visa.

As the foremost digital payment technology company in Bangladesh, Visa has a rich tradition in the country of over three decades.

In recent years, Visa also launched Bangladesh’s first contactless card and introduced open-loop, interoperable QR payments in line with Bangla QR specifications to the market.

Visa has worked with large fintechs and ecommerce players as well to introduce card on file, wallet load and other best-in-class payment innovations.