More banks set to launch Google Pay within six months

Highlights

• 10 more banks preparing to roll out Google Pay
• Tech-savvy banks among the frontrunners
• Most aiming for late-2025 or early-2026 launches
• 45,000 City Bank users signed up for the service in 2 months

Several more banks in Bangladesh are preparing to introduce Google Pay services to its customers within the next six months, following the lead of City Bank, which introduced the digital wallet in June this year in partnership with Google, Mastercard and Visa.

A senior official of Bangladesh Bank told The Business Standard that about 10 more banks are preparing to launch the service, with technology-driven lenders leading the race. Currently, banks that are prioritising technology are Prime Bank, BRAC Bank, Mutual Trust Bank and Eastern Bank.

"Every bank in the country wants to launch Google Pay. But the challenge is that it requires extensive technological development. Even if a bank has strong digital infrastructure, it takes time to adapt to new technology. 

"Before launch, several tests are also necessary to ensure smooth service and security for customers. That's why only the most technologically advanced banks will be able to introduce it quickly. Most lenders are aiming to launch the service by 2026," said a deputy managing director of one of the banks set to launch Google's digital wallet services.

Nazeem A Choudhury, DMD of Prime Bank, told TBS, "We expect to launch Google Pay by the first quarter of 2026. Although the number of Google Pay users is still low, the number of customers with NFC-enabled mobile handsets is growing. We expect usage to rise significantly in the future."

Md Mahiul Islam, DMD of BRAC Bank, said, "We always place the utmost importance on technological development to improve customer experiences. To that end, we have been working for a long time to join Google Pay. We hope to be able to launch the Google Pay service for our customers by the end of 2025."

Eastern Bank is targeting early 2026 for its rollout, said Ahsan Ullah Chowdhury, SEVP and head of Digital Financial Services at EBL. "To launch tap-and-pay services, we are currently working on tokenisation. We have already tied up with Visa, Mastercard and Google Pay."

Meanwhile, Khalid Hossin, chief digital officer of Mutual Trust Bank, said, "We are taking the necessary steps to launch Google Pay for our customers within the next few months."

With Google Pay, customers can link Mastercard or Visa credit and debit cards to Google Wallet, enabling them to use Google Pay for fast, secure, and contactless payments both in Bangladesh and abroad at any NFC-enabled POS terminal.

City Bank, the first in Bangladesh to launch the service in June, has already seen 45,000 users sign up for Google Pay within just two months.

Arup Haider, DMD of City Bank, said after the launch of Google Pay service, the number of customer account openings in our bank has increased by 35%. 

"Currently, only Visa and Mastercard users can access the service, but we will open it to Amex (American Express) cardholders within a short time. Around 75% of our customers use Amex cards. Once they are added, we believe our Google Pay users will cross 300,000 within a month," he added.