Mastercard is actively working towards creating a “less cash” economy in Bangladesh, as stated by Syed Mohammad Kamal, the country manager, during the award ceremony of their latest campaign, “Stunning Sydney 2024,” held in Dhaka. The campaign, which ran from May 21 to June 30, coincided with the festive Eid-ul-Adha period, promoting digital payments through incentives on expenditures made using Mastercard credit, debit, and prepaid cards.
Kamal emphasized the corporation’s commitment to enhancing digital payment systems in the country. He mentioned that currently, only 10% of payments in Bangladesh are cashless, with a target set to increase this to 50% to transition towards a predominantly cashless society. The ultimate goal is to achieve 90% digital payments to realize this vision fully.
During her speech, Mastercard Director Zakia Sultana Laboni hinted that the “Stunning Sydney” campaign was just the beginning, with plans to introduce more enticing offers for Mastercard holders. Sohail Alim, another Director at Mastercard, echoed this sentiment, expressing hope that partner banks would continue to introduce attractive offers to encourage more customers to switch to digital payments.
The campaign saw significant participation, with Mahjubin Shahnaz, a cardholder from Dhaka Bank PLC, winning a luxurious four-day trip to Sydney. In addition, 50 other winners received various prizes ranging from travel packages to electronics and lifestyle vouchers, contributed by leading merchants across Bangladesh.
To qualify for the campaign, cardholders needed to complete at least four transactions domestically or internationally, each worth a minimum of Tk 1,000, to accumulate points. Winners were then selected based on the points accrued.
Partner banks participating in the campaign included major names such as AB Bank PLC, Al-Arafah Islami Bank PLC, and BRAC Bank PLC, among others. These institutions played a crucial role in promoting the campaign and encouraging digital payments.
By pushing for a digital payment infrastructure, Mastercard aims to foster an inclusive digital economy in Bangladesh that is safe, simple, smart, and accessible to all, aligning with its global mission to connect and empower communities.
