DHAKA, June 24 (V7N)– Bangladesh today took a major step towards becoming a truly cashless, digital economy with the official launch of Google Pay, operating through 'Google Wallet'. This highly anticipated global digital payment service is poised to revolutionize how transactions are conducted across the country, marking a significant milestone in Bangladesh's digital transformation journey.

The launch is the result of a groundbreaking collaboration between Google, City Bank PLC, and global payment giants Mastercard and Visa. City Bank is the pioneering financial institution in Bangladesh to offer Google's cutting-edge digital wallet services to its customers.

The momentous inauguration ceremony took place today at The Westin, Dhaka, and was graced by the esteemed presence of Bangladesh Bank Governor, Dr. Ahsan H. Mansur. Governor Mansur warmly welcomed Google Pay's arrival, expressing optimism that such advancements will bolster Bangladesh's appeal to both local and foreign investors, signaling a vibrant economic landscape.

Key figures present at the launch included Mashrur Arefin, Managing Director and CEO of City Bank; Shammi Quddus, Group Product Manager at Google Payments, Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh, and Sabbir Ahmed, Country Manager of Visa Bangladesh, along with other senior officials from all collaborating entities.

With this new service, City Bank customers can now seamlessly link their Mastercard or Visa credit and debit cards to their Google Wallet. This integration empowers them to conduct fast, secure, and truly contactless payments by simply tapping their Android smartphones at any NFC (Near Field Communication)-enabled Point-of-Sale (POS) terminal, whether within Bangladesh or abroad. For smaller transactions, PIN-free functionality further streamlines the checkout process.

Google Pay is built on a foundation of advanced encryption and tokenization technologies, ensuring robust protection of user data and making every digital transaction secure and reliable. The convenience it offers is unparalleled: users are no longer burdened with carrying multiple physical cards, as their smartphones transform into versatile digital wallets, capable of handling everything from everyday shopping to international air travel.

Speakers at the event unanimously declared the introduction of Google Pay as a pivotal moment in Bangladesh's digital transformation, setting a new benchmark for convenience, security, and efficiency in the nation's financial ecosystem.

The launch of Google Pay is expected to accelerate the adoption of digital payments in Bangladesh, a country where mobile financial services (MFS) like bKash, Rocket, and Nagad already have a strong foothold. While NFC-enabled POS terminals are becoming more common in urban areas, expanding this infrastructure across the country, particularly in rural regions, will be crucial for widespread adoption. Challenges such as financial literacy, digital infrastructure gaps, and deep-rooted preferences for cash transactions also remain, but Google Pay's entry is seen as a significant push towards a more digitally-inclusive future for Bangladesh.

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