Eastern Bank PLC. (EBL), headquartered in Dhaka, the capital of Bangladesh, plans to issue the world’s first biometric metal IDEX Pay card.
The mentioned lender is a provider of corporate and retail banking services. This bank also provides a solution to meet the financial needs of small and medium-sized businesses.
The world’s first biometric card made of metal will be created based on IDEX Pay technology certified by IDEX Biometrics Mastercard. It is known that the clients of the bank, based in the capital of Bangladesh, will receive the first specimens of the new instrument for making payment financial operations by the beginning of 2024. There is no more detailed information about the date of the start of consumer use of a biometric metal card yet.
EBL adheres to a priority system within its activities, which as one of the main principles determines providing for innovation. This means that the bank is committed to developing and giving its clients advanced solutions in the sphere of financial services.
EBL is making a significant contribution to a government project called Smart Bangladesh. This government initiative is a kind of driving force for inclusive and multifaceted digital economic development. Currently, the economic system of Bangladesh, a country of 170 million people, is showing dynamic growth. Experts expect that next year the GDP of this state will increase by 6%. Bangladesh has good prospects due to factors such as a large demographic base, a steady flow of money, and stable macroeconomic conditions.
The premium segment of EBL will be the first beneficiary of the launch of a new metal biometric card, which guarantees a high level of security and an uninterrupted process of making payment transactions. This solution is the right choice for those consumers of financial services who are interested in access to exclusive offers that correspond to the current technical realities, characterized by dynamism and rapid development.
The bank expects that the launch of a new biometric card made of metal will increase the size of its customer base. Ali Reza Iftekhar, Managing Director and CEO of EBL, says that the debut of the mentioned world’s first payment instrument confirms a financial institution’s leadership and innovative positioning.
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Serhii Mikhailov
Serhii’s track record of study and work spans six years at the Faculty of Philology and eight years in the media, during which he has developed a deep understanding of various aspects of the industry and honed his writing skills; his areas of expertise include fintech, payments, cryptocurrency, and financial services, and he is constantly keeping a close eye on the latest developments and innovations in these fields, as he believes that they will have a significant impact on the future direction of the economy as a whole.
