Empowering every swipe: Southeast Bank’s take on the future of spending

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• In Bangladesh's growing digital economy, Southeast Bank is making credit cards indispensable. Our approach combines flexibility, safety, and lifestyle benefits to transform how people spend

In Bangladesh, the role of credit cards is evolving rapidly—from being a convenience to becoming a driver of lifestyle change and financial empowerment.

Over the past few years, I have witnessed a clear shift toward experience-driven consumption. Dining, travel, e-commerce, and digital subscriptions are no longer occasional luxuries—they are becoming part of everyday lifestyles. Features such as easy installment plans and Buy-Now-Pay-Later options give people the confidence to make bigger purchases without financial strain, while personalised rewards and co-branded offers guide how and where consumers choose to spend.

The rapid rise of tap-to-pay transactions, online payments, and QR/wallet integrations is another sign of change. For many, credit cards and other digital payment methods are fast becoming trusted alternatives to cash, thanks to their safety, reliability, and ease of use. Platforms like Google Pay, which harness NFC technology, are empowering a digital-first generation, meeting the needs of consumers who want transactions to be quick, seamless, and on the go. In the years ahead, I believe credit cards will increasingly act as lifestyle enablers—driving digital commerce, aspiration, and financial inclusion. Yet, financial literacy and responsible use will remain critical to ensuring this growth is sustainable.

Bangladesh's growing middle class presents immense opportunities, but with this comes the responsibility to expand without encouraging over-indebtedness. We approach this challenge by balancing growth with strong safeguards. This means carefully assessing creditworthiness and designing products tailored to the needs of the middle class—low-limit starter cards, spending threshold alerts, installment conversions, due-date reminders, and autopay facilities to encourage timely repayment. Equally important is educating customers. Through SMS alerts, emails, and social media campaigns, we explain interest rates, late fees, and repayment discipline. By combining thoughtful product design with education, and offering realistic credit limits and flexible repayment options, we aim to foster sustainable growth—empowering people without exposing them to undue financial risk.

As transactions go increasingly digital, customer trust is paramount. Security is not just a feature—it is the foundation of our approach. We employ multiple layers of protection: real-time monitoring, dedicated fraud response teams, sophisticated behavioural analytics, two-factor authentication, and advanced encryption. But technology alone is not enough. We actively engage customers in awareness campaigns about scams and fraud, so they are partners in safeguarding their own transactions. This approach ensures security without friction—making transactions both safe and effortless.

In today's competitive landscape, cashback and reward programmes have become table stakes. Our focus is on going beyond points and making rewards relevant to real lifestyles. That means exclusive merchant partnerships, EMI facilities, co-branded offers, and digital-first services. We also offer unique lifestyle benefits—complimentary airport lounge access worldwide, airport pick-and-drop services, and complimentary buffet meals at renowned hotels and restaurants. To keep engagement high, we run Spend & Win campaigns and yearlong Friday Cashback offers, turning everyday spending into rewarding experiences. This combination of convenience and aspirational benefits is what builds lasting loyalty.

Looking at the broader picture, regulatory and policy improvements can further accelerate credit card adoption in Bangladesh. Simplified regulations, broader merchant acceptance, and smoother digital onboarding will all help. At the same time, fair interest rates and strong consumer protection will build trust and enable responsible growth. A risk-based pricing model, within a regulated framework, could allow banks to serve a wider audience without compromising credit quality. A government-regulated credit card insurance policy—covering outstanding dues in the event of death or disability—would further strengthen customer confidence while reducing risk for institutions. Such measures could significantly expand the reach of credit cards, making formal credit accessible to a broader segment of the population.

The rise of Buy Now, Pay Later models and digital wallets is another important trend. These solutions are growing fast, but I see them as complementary rather than competitive to credit cards. Credit cards provide broader acceptance and build long-term credit history, while BNPL and wallets offer flexibility and instant convenience. Together, they expand choice, deepen financial inclusion, and accelerate Bangladesh's shift to a truly digital economy.

For me, the future of credit cards lies in their ability to do more than facilitate transactions—they will be lifestyle enablers, financial tools, and gateways to a more connected, empowered way of living.