A tripartite memorandum of understanding (MoU) has been signed by Access to Information (a2i, an innovation lab supported by the government of Bangladesh), Bank Asia and Mastercard to facilitate financial inclusion in Bangladesh so that anyone from Union Digital Centres (UDCs) can access digital payment services. The memorandum is aligned with the government’s vision of creating “Digital Bangladesh” by 2021.
The project aims at country’s population who are still out of banking service. Bank Asia and Mastercard extend their financial service through UDCs. They will create pro-poor digital financial products and make it accessible to the users. They will also make a connection with other financial service providers. Mastercard will provide technical expertise with the objective of building innovative digital payment system throughout the country. It will also assist a2i and Bank Asia to implement Mastercard co-branded payment cards. Bank Asia, on the other hand, will provide e-commerce transaction service from UDCs through agent banking network.
The project will play a robust role in shaping the prospect of the rural economy of Bangladesh.