Visa opens office in Dhaka
Visa, the American multinational financial services corporation, recently opened an office in Dhaka as part of its "strategic expansion in South Asia".
It is aimed at "transforming the digital payments landscape in Bangladesh and fostering economic growth and financial inclusion worldwide", according to a press release.
For all latest news, follow The Daily Star's Google News channel. It was "in line with our growing business needs", said Soumya Basu, Visa country manager in Bangladesh, Nepal and Bhutan.
It "underscores our dedication to invest in local high-quality talent"…"and drive digitisation", he said.
"We are proud to have been a part of the digital payments ecosystem in Bangladesh for more than 35 years through our innovative products and solutions," he added.
Visa provides a broad range of services, which include authorisation, clearing, and settlement services for financial institutions and merchants, according to investopedia.com.
The company does not issue credit or debit cards, rather its clients are the ones that issue the cards. It makes its profits by selling services as a middleman between financial institutions and merchants.
Visa so dominates the market that it has only a handful of big rivals, including Mastercard Inc and American Express Co, as well as digital payments companies like PayPal Holdings Inc.
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