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After much anticipation, Google’s digital payment service—Google Wallet, popularly known as Google Pay—has been officially launched in Bangladesh for the first time, marking the beginning of a new era in seamless digital transactions. City Bank, in partnership with Google, has introduced this service, with international card brands Mastercard and Visa as collaborators.
The service was inaugurated on Tuesday (June 24) by Bangladesh Bank Governor Dr. Ahsan H. Mansur at a ceremony held at a hotel in the capital. The event was attended by special guests, including the US Embassy’s Chargé d’Affaires Tracy N. Jacobson and City Bank’s Vice Chairman Hossain Khaled.
City Bank’s Managing Director and CEO Masrur Arefin stated, “This partnership reflects our commitment to building a future-oriented digital payment ecosystem in Bangladesh. We are proud to introduce this innovative service, reinforcing City Bank’s role as a pioneer in digital innovation.”
With Google Pay, customers can now use their Android smartphones for fast, easy, and secure transactions. There’s no need to carry physical cards, as payments can be made by simply tapping the phone at any Point-of-Sale (POS) terminal, both domestically and internationally. The service is completely free, with no additional fees for users.
Initially, the service is available to City Bank’s Mastercard and Visa cardholders. To use it, customers need to download the Google Pay app on their Android smartphones and add their card details. Once set up, payments can be made by tapping the phone at stores, shopping malls, or restaurants.
The service employs tokenization technology, where a unique token is used instead of actual card details, ensuring that sensitive information is not shared during transactions, thus enhancing security.
The launch of this world-class payment service heralds a new chapter in Bangladesh’s digital transaction landscape. Experts believe Google Pay will not only transform urban payments but also have a significant impact on the broader economy in the future..
AI/MR
