Jamuna Bank sees credit cards shaping the next phase of consumer lifestyles

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Credit cards in Bangladesh are rising sharply, but Jamuna Bank believes responsible onboarding and transparency are key to sustainable growth

One of the most noticeable shifts in our consumer economy right now is the rapid rise of credit card usage. Bangladesh Bank data shows transactions and issuance climbing sharply in 2024–2025, particularly in retail and department stores. Visa's own network figures confirm this with double-digit growth year-on-year — still concentrated in Dhaka, but steadily spreading into other cities.

As card acceptance expands into restaurants, pharmacies, utilities, and even smaller shops, people — especially the urban middle class — are embracing a cash-light lifestyle. Credit cards are also unlocking new opportunities in cross-border online shopping and international travel. In the bigger picture, cards will fuel discretionary spending, digital commerce, and a more traceable financial culture. Whether this shift brings lasting social benefit, however, depends on how effectively banks, fintechs, and regulators manage risks like over-indebtedness and fraud.

Jamuna Bank Visa Platinum card. Photo: TBS

The demand is clear. Bangladesh's middle class is growing rapidly, and so is interest in credit cards. But expansion must be responsible. At Jamuna Bank, we begin with careful onboarding, setting transparent eligibility and income criteria. First-time users are offered lower credit limits, which increase only when repayment history shows stability. We also monitor repayment patterns closely, so early warning signs of stress can be addressed before they escalate. Transparency is central to our approach — fees and charges are explained upfront, and flexible repayment options such as EMIs, grace periods, and minimum payments are always available.

Building trust is equally critical. Security and convenience go hand in hand. On the security front, we have adopted EMV chip technology, OTP authentication for online payments, and real-time fraud monitoring systems. Every transaction is tracked, with unusual activity flagged instantly, while SMS alerts keep customers in control. At the same time, payments remain simple with innovations such as contactless transactions and mobile app integration. All systems comply with international standards like PCI DSS as well as Bangladesh Bank's rules. This way, customers experience both safety and peace of mind.

When it comes to rewards, our focus is on relevance, not just volume. Cashback and points are common across the market, but we design our programs to match real lifestyles. That means exclusive partnerships with leading brands in retail, dining, healthcare, and travel. Our co-branded products offer privileges customers truly value. Rewards are flexible too — points can be redeemed as cashback, shopping vouchers, or even applied to installment payments. Renewal fees are waived for active users, and EMI programs make large purchases manageable. With tiered benefits — from Classic to Signature cards — privileges such as lounge access, concierge services, and enhanced insurance coverage grow with our customers, ensuring they feel genuine value in their progression.

Of course, adoption is shaped by more than customer demand. Policy plays a decisive role. A few changes could accelerate growth significantly. Allowing more flexible interest rate caps would enable banks to responsibly serve a wider customer base. A comprehensive credit bureau system covering banks, NBFIs, and fintechs would improve visibility on total borrower exposure, reducing risks of over-indebtedness. Balanced fee guidelines would maintain transparency without discouraging innovation. On the merchant side, lowering MDRs — perhaps supported by tax incentives — would bring SMEs and businesses beyond Dhaka into the card network. Support for digital innovations like tokenization, contactless payments, and wallet interoperability would further streamline the ecosystem. Finally, joint financial literacy campaigns by banks and regulators could go a long way in building public trust.

Globally, we see "buy now, pay later" (BNPL) and digital wallets reshaping the payment landscape. In Bangladesh, they will both complement and compete with credit cards. Wallets are an excellent entry point, familiarising millions with digital payments. Over time, many of these users will seek the higher limits, global acceptance, and lifestyle benefits that only credit cards provide. BNPL, by popularising installment payments, indirectly strengthens the credit card proposition, since EMI facilities have long been a core feature of cards.

Yes, wallets may take over smaller day-to-day transactions, and BNPL fintechs may attract younger or first-time borrowers. But for larger purchases, travel, and international use, credit cards will remain the most trusted and versatile tool. Their future lies not in resisting new models, but in integrating with them — building a payments ecosystem where every option reinforces the other.

At Jamuna Bank, our vision is clear: credit cards should not just be a means of payment, but a tool for empowerment, security, and opportunity. As Bangladesh moves toward a more cashless future, our responsibility is to ensure this transformation is inclusive, sustainable, and above all, built on trust.

Visa Platinum Card:

• Rewards: Earn 2 reward points per BDT 100 spent; 3 points per USD 1; triple or quintuple points at selected merchants
• Discounts: Up to 50% at partner outlets including shops, restaurants, hospitals, and travel agencies
• Lounge Access: Complimentary access to Balaka Lounge (up to 4 times/year)
• Priority Pass: Access to over 600 VIP airport lounges worldwide (application required)
• EMI Facility: 0% EMI facility from selected Marchant and  EasyPay option with 3–36 month installments; 11.99% interest on unused balance