• Monday, Sep 26, 2022
  • Last Update : 10:24 am

Standard Chartered keeping ahead of the curve in card business

  • Published at 06:22 pm December 8th, 2020
SCB Mastercard award

The British bank recently won the ‘Excellence in Credit Business’ in both the domestic and international categories

Standard Chartered, which introduced credit cards to Bangladesh, is gearing up to roll out a couple of new products to cement its commanding position in this up-and-coming lucrative segment for banks.

“We are working to introduce a couple of new credit card products in the market, catering to the evolving needs of our clients. We believe the value proposition will be unique in our market,” said an official of the bank’s card division requesting anonymity as he is not authorised to speak with the media.

The British bank recently won the ‘Excellence in Credit Business’ in both the domestic and international category at the “Mastercard Excellence Award 2020”.

The award recognised 17 of the global payment service provider’s partners for their contribution in furthering the digital payment agenda in 2019-20, particularly during the pandemic, by way of creating innovative solutions and delivering accomplishments in various areas of business growth.

During the pandemic, the bank, which rolled out its contactless cards in August,presented a series of online features to facilitate its credit card clients, including greater functionality of its mobile app, along with a host of offers.

The bank was the first to introduce features to Bangladesh’s card market such as loyalty scheme, airport lounge access, cheques against credit cards and 0 per cent equal monthly instalments on purchase of goods and services. 

Its Titanium credit card is the only card in the market that offers a cash-back reward for every transaction and up to Tk 14,400 in a year. 

“Unique propositions such as these make our credit cards stand out prominently in our market,” he added.

As of September, there are 2.3 crore plastic cards in circulation, according to the Bangladesh Bank.

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