Women entrepreneurs get social media prepaid card

In a landmark move aimed at encouraging women to start Facebook-centric businesses, Bangladesh’s first-ever social media prepaid card has been launched.

MasterCard, Mutual Trust Bank and e-Courier have jointly launched the launched the prepaid card at an event in Dhaka on Wednesday, reports UNB.

The card is designed specifically for women entrepreneurs, so that they can benefit from Facebook-centric businesses.

The card has a dual currency facility for the entrepreneurs to use their Facebook page without any third-party payment assistance.

The e-courier will transfer funds directly to the client's prepaid card, so women entrepreneurs do not have to go to the e-courier to collect cash in person.

This card includes special discounts on e-commerce portals, jewelry shops, groceries and clothing stores, specially designed for cardholders.

Cardholders will have dual currency transaction facility at more than 5,000 outlets in Bangladesh, Bogo (buy-one-get-one) at hotel locations, dining and lifestyle offers and easy subscription on streaming platforms (Netflix, Amazon Prime, etc.), MTB Green Pin services, SMS banking, POS services, ATM and QR-code transaction facilities.

Biplob Ghosh Rahul, Chief Executive Officer (CEO) of e-Courier, said, “E-Courier is pleased to launch for the first time a co-branded prepaid card for women entrepreneurs in a joint venture with MasterCard and Mutual Trust Bank.

E-Courier is the first private logistics and courier brand in Bangladesh, which has been supporting women entrepreneurs and their endeavours through sophisticated and specialized logistics solutions for the past eight years.

Syed Mohammad Kamal, country manager, MasterCard Bangladesh, said, “The pandemic has had a significant impact on consumer spending growth on e-commerce channels like Facebook.”

The women entrepreneurs are contributing to the F-Commerce sector in Bangladesh that is why this card was introduced, he said.

Syed Mahbubur Rahman, MD & CEO, Mutual Trust Bank (MTB), said, “MTB has always played a leading role in implementing innovative payment solutions.

“Introducing co-branded prepaid cards jointly will ensure various financial benefits. This will further facilitate the expansion of trade and commerce in Bangladesh's growing F-commerce sector,” he added.