BASIC Bank launches contactless credit card

State-owned BASIC Bank Limited launched a dual currency contactless credit card on Sunday, said a press release.

BASIC Bank is the first among all the state-owned banks to launch this type of card.

Professor Dr Md Abul Hashem, chairman of the Board of Directors of the Bank inaugurated the card service in a virtual opening ceremony.

Managing Director of the bank, Md Rafiqul Alam, presided over the function where directors of the board Md Shaheb Ali Mridha, Md Razib Parvez and Md Rafiqul Islam participated in the program. The senior executives and officials concerned, including the head of Card Division also attended the function.

The Chairman of the bank, Professor Dr Abul Hashem, said, "BASIC Bank has progressed another step in meeting customer demand in terms of technology-oriented banking services. With Visa, a card service of international branding, customers can make their transactions easily both at home and abroad."

Md Rafiqul Alam, managing director of the bank, said, "BASIC Bank is the pioneer among all the state-owned banks to launch Visa brand contactless credit card service. The special advantage of this card in the present era of [the novel] corona[virus] pandemic is that transactions are possible without the touch of others."

"Our cardholders will be able to enjoy speedy and easier transactions without entering their cards at the POS terminal," he added.

The press release stated, the service will make the transaction processes faster, easier and more convenient for cardholders than ever before.

In addition, customers would get discounts at various outlets while shopping and paying their food bills. There would be a real-time SMS facility and e-alert service for transactions to take place.

Further, as the card uses an EMV chip, maximum security for transactions would be facilitated. Also, up to 50% of the credit limit can be withdrawn in cash and money can be transferred to other accounts.