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🇧🇩 Bangladesh /Economy & Trade

Visa eyes expanded investment in Bangladesh's digital finance and AI sectors

From Daily Star · () English

Translated from English, summarized and contextualized by DistantNews.

At a glance

News Named sources New plan
  • Visa Asia-Pacific President Stephen Karpin met with Prime Minister Tarique Rahman to discuss expanding Visa's investment in Bangladesh.
  • The company expressed interest in digital finance, AI, and payments, aiming to enhance security and speed in the country's banking and digital transaction systems.
  • Discussions also covered using Visa cards for public services and developing a system for freelancers to receive foreign earnings, with an invitation for Visa to establish a tech center in Bangladesh.

Visa, a global financial technology company, is exploring significant investment and business expansion in Bangladesh, focusing on digital financial services, technology, and innovation. The company's Asia-Pacific President, Stephen Karpin, conveyed this interest during a meeting with Prime Minister Tarique Rahman.

Bangladesh had significant potential in digital financial services, technology and innovation.

— Stephen KarpinVisa Asia-Pacific President Stephen Karpin stated the country's potential during a meeting with the Prime Minister.

Karpin highlighted Bangladesh's potential in digital finance and technology, expressing Visa's desire to invest and offer technological support. The goal is to encourage wider adoption of card usage among bank account holders and expand digital transactions nationwide. Visa also plans to leverage artificial intelligence to improve the safety, simplicity, and speed of Bangladesh's banking and digital payment systems.

Visa wanted to invest and provide technological support to encourage bank account holders who do not yet use cards to adopt them, while also expanding digital transactions across the country.

— Stephen KarpinVisa's Asia-Pacific President explained the company's investment goals for digital financial services.

The discussions extended to practical applications, such as using Visa cards for public services like metro rail and toll plazas, aiming to streamline everyday transactions. Visa also showed interest in supporting Bangladesh's digital and creative economies, including developing an effective digital payment system for freelancers to receive international earnings securely and conveniently. The company received an invitation to establish a technology development or global service center in Bangladesh, which could generate local employment opportunities.

Visa is also interested in using AI to make Bangladesh’s banking and digital payment systems safer, easier and faster, he said.

— Stephen KarpinKarpin detailed Visa's interest in applying artificial intelligence to the country's financial infrastructure.
DistantNews Editorial

Originally published by Daily Star in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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