MTB partners with Mastercard

Mutual Trust Bank (MTB) in collaboration with Mastercard announced the launch of the Mastercard World and Mastercard Titanium contactless credit cards at a press briefing in Dhaka on Sunday.

Both the credit cards represent the first Mastercard branded contactless credit cards to be launched in Bangladesh, targeting the affluent customers to provide more efficient and faster transactions, said a statement.

The launch reinforces Mastercard's commitment to helping drive the push beyond cash based payments in Bangladesh, to enable safer, faster and simpler payments.

The cards allow the holders to simply tap it in front of a card reader or POS terminal to complete the transaction, thereby eliminating the need for swiping or inserting the card into the terminal.

The service makes the payments process for customers faster, easier and more convenient than ever before.

According to Bangladesh Bank's guidelines, the maximum amount allowed for a contactless credit card transaction is fixed at Tk 3,000. The cardholders will be required to either dip or swipe their card and enter their PIN details for amounts that exceed Tk 3,000.

To commemorate this milestone, MTB and Mastercard will be offering exclusive dining, lifestyle and accommodation at select partner-outlets throughout the country for all Mastercard branded contactless cardholders.

The cardholders will now receive double reward points each time they spend Tk 50 or US$ 1.0 on their cards until March 2019. The Mastercard World cardholders will receive four points instead of two points and Mastercard Titanium will receive two points instead of one point.

Additional benefits for both contactless cards include free access to MTB Air Lounge at Hazrat Shahjalal International Airport (HSIA) in Dhaka, and Shah Amanat International Airport in Chattogram, for one adult and two children, complimentary meet-and-greet service at HSIA for up to three companions, and complimentary MTB Protection Plan Insurance Coverage.

Anis A. Khan, Managing Director & CEO of Mutual Trust Bank Limited (MTB) said: "MTB is thrilled to be able to provide our valued clients with the transactional efficiency of contactless Mastercard World and Titanium Credit Cards. Our clients will be able to enjoy faster and more convenient transactions without the need of inserting their cards into the POS or terminal. We strongly believe that this new venture, jointly pioneered by MTB and Mastercard in the country, will bring remarkable convenience for the cardholders in case of transactions."

Syed Mohammad Kamal, Country Manager, Mastercard Bangladesh, said: "This is an exciting moment for us at Mastercard as we launch our first contactless credit cards for consumers in Bangladesh in collaboration with Mutual Trust Bank. This is also aligned with Mastercard's broader vision of helping Bangladesh move beyond cash based transactions, allowing the population to experience faster transactions, greater convenience, and improved safety that consumers in other countries already enjoy."