the cards that introduced cashless money - Dutch-Bangla Bank ...

the cards that
introduced cashless
money

The Cards that introduced
cashless money
Plastic cards or plastic money is gaining popularity day by
day. It is a means of making payments without cash
against services or purchases. Considering the
inconvenience of carrying cash, safety etc., plastic cards
are being used in more and more sectors.
DBBL is the leading financial institution in providing card
services in Bangladesh, primarily because DBBL introduced
cards in Bangladesh. DBBL has already expanded its
portfolio in all arenas of card business. DBBL has adopted
new technology as the basis of card products
development. The first Nexus debit card was issued on
August 14, 2004. Now Nexus is the most popular card in
Bangladesh. With our expansion we have also adopted
more secure and reliable technology to protect customers’
and the bank’s interests and prevent unauthorized and
fraudulent transactions.
In Bangladesh, DBBL was the first bank to issue EMV Debit
& Credit cards and acquire EMV cards in the POS terminals
and ATMs. EMV is the most advanced technology for
secure payment which was developed jointly by Europay,
MasterCard & Visa and was later adopted by other
payments card brands. EMV protects cardholders by
preventing copying of card data and ensures a liability shift
benefit which protects cardholders in non-EMV terminals.
As mentioned earlier, we are not only the first bank but
also one of the handful banks in the sub-continent to
implement EMV for the issuing of both Master/Visa debit
and credit cards and for acquisition of all ATMs (NCR,
Wincor & Diebold) and POS terminals (Ingenico &
Hypercom). DBBL has also launched the first ever ecommerce
acquiring gateway in Bangladesh named “DBBL
Nexus Gateway” on June 3, 2010. In this region, DBBL is
the first bank to achieve card portfolio with all EMV
compliant products.
Issuing Debit Cards
DBBL’s card issuing portfolio is enriched with both debit
and credit cards of various card brands. However, DBBL is
the pioneer in issuing debit cards in Bangladesh. The first
debit card of the country, the Nexus classic debit card was
issued on August 14, 2004. Since then DBBL has been the
market leader with the largest debit card base. DBBL issues
both EMV compliant multi-application enabled smart card
and traditional magnetic stripe PIN-protected debit cards.
The EMV debit card consisted of Dynamic Data
Authentication (DDA) chip and Multos operating system. It
ensures additional software level security for chips.
Nexus Card
DBBL has its own proprietary magnetic stripe, PIN
protected card which is classified in three general
categories:
• Nexus Classic
• Nexus OD Silver
• Nexus OD Gold
When any customer opens an account with any of the
DBBL branches a Nexus Classic card is issued against that
account free of charge for the first year. A customer may
close their card within one year without any charges. No
renewal fee is charged if the customer does not activate
their card. This card can be used in any DBBL POS
terminals or ATMs. All transactions of this card are secured
with PIN. This card can also be used in DBBL Nexus
Payment Gateway for e-commerce shopping.
Nexus Over Draft (OD) cards are issued against loan facility
provided by bank on customer’s deposit accounts. They
allow a credit limit along with the standard debit card
features. Depending on the loan amount, a customer may
be issued with a Silver or Gold OD card.
International Debit Cards
DBBL issues international debit cards – either MasterCard
or Visa. As per Bangladesh Bank’s circular, an international
card can be issued against customer foreign currency
account like Resident Foreign Currency Deposit (RFCD)

account, Foreign Currency (FC) account or Exporter
Retention Quota (EQR) account.
MasterCard Debit
DBBL issues EMV chip enabled debit cards of MasterCard
known as “MasterCard Debit” cards. This card can be
issued for both local and international use. This card
consists of both EMV chip and Magnetic stripe for wider
acceptance.
If the terminal supports it, chip transaction will take place
using secured chip technology but if terminal is incapable
of accepting chip transactions, transaction will be
performed using magnetic stripe technology. If any
disputes take place with magnetic stripe based transaction
the customer will be protected by liability shift benefit.
This card does not require PIN for transactions in POS
terminals. This card can be issued for any MasterCard
accepting POS terminal or ATM and can be used for ecommerce
transactions as well.
Visa Electron Debit
DBBL issues magnetic stripe based Visa Electron debit
cards. This card requires PIN for transactions in Visa
branded POS terminals which support PIN entry and Visa
banded ATMs. Though this card is non-EMV, all
transactions of this card is PIN based which enhance the
security of use of the card.
Issuing Credit Cards
DBBL has been issuing Visa EMV credit cards since
November 2008 and MasterCard EMV credit cards since
April, 2010. Although DBBL’s entrance in credit card
services was delayed, it made a difference in the market
by issuing the most secure EMV credit cards from the first
day. The EMV credit cards consist of Dynamic Data
Authentication (DDA) chip and Multos operating system. It
ensures additional software level security for chips.
Due to security, other card-issuing banks in Bangladesh
usually block customers’ international transactions and
requires the customer to make prior phone calls to the
card-issuing bank to open international transactions in
their card. When a customer returns to Bangladesh,
he/she has to call the bank to block their cards’
international transactions. Sometimes card-issuing banks
replace the customer’s card when the customer visits high
risk countries such as Malaysia, Thailand etc. But with
DBBL’s EMV enabled chips cards there is no such hassle as
international transactions are always open and the
customer is fully secured. In addition to providing security
DBBL also charges the lowest interest rate in the market
on purchase transaction and has a maximum of 50 days
interest free (grace) period. There is also no cash
withdrawal fee in the DBBL ATM network.
MasterCard Credit Card
DBBL issues EMV enabled MasterCard credit cards to its
customers. All cards have DDA chip with Multos
application, which protect them from any alternation of
card data and ensures secure transactions worldwide on
any MasterCard accepted POS terminals and ATMs. This
card has both chip and magnetic stripe so acceptability is
not restricted to any type of terminals. DBBL issues both
standard and gold cards with local and international

acceptability. Customers have the option to select as per
their requirements.
Visa Credit Card
DBBL was the first bank to introduce EMV enabled Visa
credit cards in Bangladesh. All cards have DDA chip with
Multos application which protects them from any
alternation of card data and ensures secure transaction
worldwide on any Visa accepted POS terminals and ATMs.
This card has both chip and magnetic stripe so
acceptability is not restricted to any type of terminals. This
card is capable of working in off-line environments with
off-line PIN. In that case the card will validate customer
PIN entered in POS terminals and is also capable of
approving low value transactions. This feature reduces
transaction processing time and possibility to avoid any
declines due to network issues. This provides greater
customer satisfaction and capability of authorization host
system. DBBL issues both silver and gold cards with local
and international acceptability.
Credit Card features:
Both the Visa and MasterCard credit cards issued by DBBL
have the following features:
• Secure chip based card
• EMV compatible DDA card (very expensive chip it
protect against counterfeit fraud)
• Multos Operating System (Most secure and
expensive OS for chip card)
• No cash withdrawal fee at DBBL ATM
• 100% cash withdrawal facility
• Daily maximum of 5 transactions and Tk.50,000/-
in ATM
• Lowest interest rate in the market on purchase
(1.9%/m)
• Maximum 50 days interest free period on
purchase
• Grace period on every purchase transaction
• Balance transfer facility
• Account transfer facility to deposit account up to
90% of credit limit
• SMS notification on every transaction and after
bill generation
• Annual Fee waiver on 10 purchase transactions
Virtual Card
Students pursuing higher education and/or scholarships
abroad are often required to pay the fees and charges
online using a credit card. Students are also required to
take various

examinations such as IELTS, TOFEL, GMAT, GRE – all of
which require them to register online for paying fees and
charges with a credit card. Most students and their
guardians however are not eligible to have a credit card
from a bank and thus do not have one. To help them, DBBL
introduced Virtual Card for the first time in Bangladesh in
2011. This is not a plastic card – it is a piece of paper inside
a closed envelope which carries valid card number, expiry
date and CVV/CVC which can be used for some specific
internet merchants related to educational/certifications
authorities. The virtual card is distributed from DBBL
branches and the value is fixed as per the requirement of
the students. The DBBL Virtual Card has become very
popular amongst students.
E-Commerce/Internet Payment Gateway (Nexus
Gateway)
DBBL is the first bank in Bangladesh to introduce epayment
gateway. This gives a person the liberty to
purchase online, pay utility bills etc. Most importantly, the
person does not need to be a DBBL account holder.
Currently, there are 30 merchants or MSP (Merchant
Service Provider) registered with DBBL Nexus Payment
Gateway and this volume is increasing day by day.
Currently, we accept MasterCard, Visa and DBBL Nexus
cards in our payment gateway. Nexus card customers can
use their regular PIN for e-commerce transactions. To
secure e-commerce transactions we are implementing
Verified by Visa (vbv) and MasterCard Secure Code.
The following services are available through the emerchants:
• Online purchases of goods and commodities
• Utility bill payments
• Hotel Bookings
• Purchase of bus/train/cinema/airline tickets
Due to the absence of an internet payment gateway in
Bangladesh, the e-commerce was not launched and as
such merchants are not yet ready and the customers are
not used to making e-commerce transaction over the net.
However, after launching the internet payment gateway
by DBBL, merchants are becoming ready by launching
websites for selling their goods and services and
customers are eager to make e-commerce transactions.
After launching the internet payment gateway by DBBL on
3rd June, 2010 in the name of “Nexus gateway”, the
performance of e-commerce transactions by the
cardholders in the Nexus Payment Gateway has been
steady. The cardholders have been taking some time to
adopt the first e-commerce payment gateway in
Bangladesh. The progress and popularity of this service has
been increasingly prevalent day by day.
Future Plans
Instant card
To better serve its customers, DBBL will introduce instant
card issuance from the branches soon. Every account
holder will receive a card and PIN instantly from the
branch when they open a new account. The card is active
and usable from the first day. Customers are no longer
required to wait a day for this card, collecting PIN from the
branch and requesting for activation.
Acquiring China Union Pay cards
Every year travelers and workers visit Bangladesh for
different purposes from Thailand, Malaysia, China, Korea,
Japan, and Singapore who often have a China Union Pay

card. DBBL plans to acquire China Union Pay card at DBBL
ATM and POS terminals in 2012.
Acquiring Diners’ cards
Discover and Diners’ club are US based payment card
companies. DBBL has planned to acquire these cards in the
DBBL ATM network in the year of 2012.
Card Loyalty
DBBL is working on offering the cardholders a point-based
loyalty program. Customers can gain points for their card
transactions and attractive rewards.
Installment payment
Installment payment facility has been planned to launch
for credit card holders in 2012. With this a customer can
buy a high value product with their credit card and pay
back in equal monthly installments.