The Eastern Bank, located in Dhaka, Bangladesh, has unveiled the world’s first biometric metal card, set to transform the banking experience for its EBL customers starting in early 2024.
This innovative card, featuring IDEX Biometrics’ Mastercard certified technology, IDEX Pay, is a part of the bank’s support for the Smart Bangladesh initiative, which aims to promote inclusive and comprehensive digital economic growth. With Bangladesh’s population of 170 million and a projected GDP growth of 6% in 2024, the country has been experiencing significant economic progress, supported by a strong demographic dividend, resilient remittance inflows, and stable macroeconomic conditions.
The biometric technology in the Eastern Bank card works by using IDEX Biometrics’ Mastercard certified technology, IDEX Pay. This technology allows the card to authenticate the user’s identity using their unique biometric information, such as fingerprints, to authorize transactions. By integrating biometric authentication into the card, it provides a high level of security and a seamless payment experience for the bank’s customers. This innovative approach is expected to set a new standard for secure contactless payments, ultimately contributing to financial empowerment for all users.
The biometric metal card is designed as an exclusive offering for EBL’s premium customers, emphasizing top-notch security and a seamless payment experience. As a contactless card tailored for the dynamic and tech-savvy, it embodies innovative technology, with the potential to boost card usage among the bank’s premium clientele.
CEO Ali Reza Iftekhar expressed his enthusiasm for the new offering, highlighting the bank’s compliance with regulatory requirements in Bangladesh and its position as a pioneer in introducing this cutting-edge technology. The IDEX Biometrics solution is expected to deliver a superior payment experience, and the bank believes that biometric payment cards will set a new standard, enabling secure contactless payments and ultimately fostering financial empowerment for all.