EBL and Daraz unveil Visa co-brand cards

-A Monitor Report Date: 14 September, 2023
EBL and Daraz unveil Visa co-brand cards
The formal inauguration of EBL- Daraz co-brand visa card was held on September 13 at Eastern Bank's head office in the city. Ali Reza Iftekhar, MD and CEO of Eastern Bank PLC.; Syed Mostahidal Hoq, MD of Daraz Bangladesh, Soumya Basu, Country Manager of Visa Bangladesh, Nepal, and Bhutan, Rishi Chhabra, and Vice President of Visa-Head of Merchant Sales and Acquiring India and South Asia; M. Khorshed Anowar, DMD and Head of Retail and SME Banking of Eastern Bank PLC.; Khondoker Tasfin Alam, Chief Operating Officer, A H M Hasinul Quddus Rusho, Chief Corporate Affairs Officer of Daraz Bangladesh were present among others.

Dhaka, September 14, 2023: Eastern Bank PLC. (EBL) and Daraz, the leading e-commerce marketplace in Bangladesh, have officially launched EBL-Daraz co-brand cards in collaboration with Visa. The launch event took place at the EBL head office in the city yesterday.

This collaboration is poised to revolutionize the online shopping experience by capitalizing on Daraz's commitment to providing a secure and convenient online shopping experience, Visa's extensive networks and cutting-edge technologies, and EBL's customer-centric approach. Exclusive benefits include special discounts, enticing cashback offers, and VIP access to promotions and events. Moreover, the card will ensure secure, swift, and hassle-free transactions, reinforcing consumer trust when making online purchases.

Syed Mostahidal Hoq, Managing Director of Daraz Bangladesh, expressed his excitement about this groundbreaking venture, stating, "Daraz has always placed customers at the forefront of everything we do. This Co-brand Card is a testament to our commitment to enhancing the online shopping experience, offering unmatched convenience and rewards."

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Ali Reza Iftekhar, Managing Director, and CEO of Eastern Bank PLC. shared his thoughts on the partnership, saying, “With the exponential growth of e-commerce and the growing inclination towards online payments, our partnership holds tremendous potential. Together, we embark on a journey filled with exciting possibilities and a shared vision of redefining the future of commerce in Bangladesh”

Soumya Basu, Country Manager, Bangladesh, Nepal and Bhutan, Visa said, “We are delighted to partner with EBL and Daraz to power this new co-branded Visa card for their customers. Available as a physical card and a digital credential, this enables cardholders and shoppers to purchase their favorite products anytime, anywhere and pay for them digitally. We believe this card gives consumers a superior online and offline shopping experience, combining the convenience and safety of the Visa network, with great benefits on loyalty points, discounts at Daraz and other popular retail stores and a lot more.”

In addition to Ali Reza Iftekhar, MD and CEO of Eastern Bank PLC.; Syed Mostahidal Hoq, MD of Daraz Bangladesh, Soumya Basu, Country Manager of Visa Bangladesh, Nepal, and Bhutan, Rishi Chhabra,  and Vice President of Visa-Head of Merchant Sales and Acquiring India and South Asia;  M. Khorshed Anowar, DMD, and Head of Retail and SME Banking of Eastern Bank PLC.;  Khondoker Tasfin Alam, Chief Operating Officer, A H M Hasinul Quddus Rusho, Chief Corporate Affairs Officer of Daraz Bangladesh were present among others on the occasion.

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The co-brand card is a pioneering initiative in Bangladesh, offering unique benefits for online shopping that are unmatched by any other bank card in the country.  Interested customers now can apply for this special co-brand card by visiting their nearest EBL branch or can apply online by visiting EBL and Daraz websites.

-N

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