Stick it on your phone and pay! UCB, Mastercard and Grameenphone launch sticker payment card
United Commercial Bank, Mastercard and Grameenphone have jointly launched a co-branded sticker payment card. It sticks to a phone for contactless payments, and the card is managed through Grameenphone's MyGP app.
Contactless payments by sticking the card on the phone — a joint initiative of three institutions
To make digital transactions easier, United Commercial Bank (UCB), Mastercard and Grameenphone have jointly launched a co-branded sticker payment card. The card can be stuck onto a mobile phone to make contactless payments.
Customers can use this sticker-sized card by attaching it to the back of their mobile phone or phone case. Touching the phone to a contactless point-of-sale (POS) terminal completes the payment — with no need to carry a separate card.
The card is managed and used through Grameenphone's MyGP app. Users can view and control card transaction information from the app itself.
What benefits are on offer
An attractive offer has also been announced for customers. The card's annual fee will be waived for spending Tk 1 lakh with the card in a calendar year.
Those involved say the initiative aims to expand digital payments in the country. The joint effort of a bank, a card network and a telecom company is expected to further encourage customers toward cashless transactions.
Source: The Business Standard
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