ZERO by Prime Bank is redefining the credit card culture

Highlight

• 65% growth in credit card issuance in Bangladesh from April 2024 to April 2025 reflects a cultural shift in payment habits

For an increasingly urban and aspirational population, these cards are opening access to products, services, and experiences that were previously out of reach. Over the past year, domestic credit card usage has followed an unmistakable upward trajectory. 

According to Bangladesh Bank data, the number of credit cards in circulation grew by 65% between April 2024 and April 2025 — rising from 1.5 million to 2.5 million. This growth reflects not just a financial shift but a cultural one. Whether it is travel and dining, e-commerce, subscription services, mobile balance top-ups, or mobile financial services transfers, credit cards are embedding themselves deeply into daily life. We believe this trend will go further, encouraging structured financial planning and fostering better credit discipline, especially among young, tech-savvy consumers.

At Prime Bank, our commitment is to expand access to credit cards while ensuring responsible growth. Our focus is on prioritising the salaried segment and implementing robust credit assessments and tailored income assessment policies. These measures help accelerate financial inclusion among the rising middle class. But access is only part of the equation — education is just as important. 

Many people hesitate to use credit cards because of hidden charges or unexpected fees. That is why we introduced Bangladesh's first-ever Visa Signature Credit Card with zero fees. ZERO by Prime Bank is not just another financial product — it is a lifestyle statement. Designed for the aspirations of a new generation, it offers freedom and comfort without unnecessary costs, creating a modern solution for a smart life.

Security has always been at the heart of our approach. In today's era of digital payments and e-commerce, trust hinges on safeguarding transactions. We employ multiple layers of protection, from two-factor authentication to real-time alerts, supported by a robust transaction monitoring system that detects and flags suspicious activity instantly. Cardholders can control spending through single, daily, and monthly limits — a safeguard that also helps manage risk. But trust is not built solely on security technology; it is strengthened by transparency, proactive communication, and responsive service. We take this responsibility seriously, educating customers through SMS and email on the do's and don'ts of digital transactions and ensuring a safe, seamless experience.

In a market crowded with cashback and rewards programmes, differentiation is key. That is why we designed ZERO by Prime Bank to remove all the traditional fees that frustrate cardholders — no issuing fee, no annual fee, no EMI processing fee, no MFS transfer fee, no SMS alert fee, and no over-limit fee. This approach has resonated strongly with customers, who value both the simplicity and transparency of the product. ZERO is not just a card; it is a step toward rebuilding trust and redefining what a credit card can mean.

The growth of credit cards in Bangladesh has benefited from strong policy support. Recent steps by Bangladesh Bank, including the relaxation of mandatory proof of tax return submission for credit card applications, have simplified the process and encouraged adoption. Moving forward, further measures could accelerate growth — enabling digital signatures for onboarding, expanding access to reliable credit scoring, offering incentives for merchants to accept card payments, and relaxing documentation requirements for students. These steps would expand inclusion, especially for young adults, and reinforce the shift toward a cashless economy.

We recognise that the financial landscape is evolving, with "buy now, pay later" models and digital wallets becoming increasingly popular, particularly among first-time borrowers and younger consumers. Rather than seeing them as competitors, we view these innovations as complementary. We are exploring ways to integrate BNPL into our offerings, enabling customers to split payments seamlessly through our platforms. The future of credit in Bangladesh will not be defined by a single solution — it will be shaped by a diverse ecosystem of choices that empower consumers while fostering trust and security.