SAM

Published:
2019-11-18 11:29:04 BdST

BASIS for spl uninterrupted cards in digital marketing


FT ONLINE

The Bangladesh Association of Software and Information Services (BASIS) on Sunday sought central bank's intervention to open the facility of international credit and pre-paid cards.

At a meeting, the association leaders informed the Bangladesh Bank (BB) that some banks have stopped the facility of international credit and pre-paid cards which are hindering the development of the digital marketing sector of the country.

As a result, individuals and companies are incurring business losses and at the same time, this situation can force all small entrepreneurs to conduct financial transactions through illegal processes like "hundi" and resort to various malpractices, they added.

A delegation of the BASIS raised the issue during a meeting with Bangladesh Bank's (BB) Deputy Governor Ahmed Jamal.

In addition to the domestic and foreign companies, telecoms, technology companies and consumers of various e-commerce models in Bangladesh every year, numerous individuals and companies are expanding their brands, products and services to digital media channels such as Facebook, Google, Instagram, Twitter, YouTube and spending more than Tk 20 billion for advertising.

Industry insiders said there are about 1000 agencies, big and small, involved in this growing digital industry.

Besides, there are numerous freelancers, production houses, content creators and many others involved in the industry. The industry employs approximately 50,000 to 80,000 people who are constantly creating numerous digital content and business services and delivering various digital media services (advertising distribution, purchasing, advertising technology platform, native content platform, etc.).

All of these cards have a travel quota of up to $ 12000 a year. Many local and foreign companies, tech companies, small agencies, e-commerce and e-commerce models use the facility to pay for advertising on Google and Facebook.

BASIS's President Syed Almas Kabir, Vice President (Admin) Shoeb Ahmed Masud and Digital Commerce Standing Committee's Chairman Syed Kamal were present at the meeting.

"Recently, several banks have closed this facility. That means international credit and prepaid cards do not have the opportunity to pay the price in the digital marketing sector from the dollars endorsed in the travel quota", the BASIS mentioned.

Earlier, Bangladesh Bank, by a circular issued in 2016, promoted the international credit and pre-paid card to enhance the convenience of Bangladeshi citizens to buy goods at home from the international market.

This move continued to play an effective role in expanding the digital industry of the country.

In the context of the meeting, the delegation suggested to use special uninterrupted cards containing network providers such as MasterCard or Visa Card in digital marketing.

It can be provided through public or private banks and can only be used to send payments to authorised media channels.

Later, BB's Deputy Governor Ahmed Jamal told the delegation that a meeting would be held next week with all banks on this issue.

"The proposals submitted by the BASIS will be highlighted at the meeting to resolve the situation," he added.

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