Visa, the global leader in digital payments, has introduced the country's first Medical Debit Card in partnership with BRAC Bank PLC. This card will offer unparalleled simplicity of use and access to funds for international medical expenses.
The launch ceremony occurred on Monday, at BRAC Bank PLC Head Office, Tejgaon. It was attended by Md Mahiul Islam, Deputy Managing Director, Head of Retail Banking, BRAC Bank PLC; Sabbir Ahmed, Country Manager, Bangladesh, Nepal, and Bhutan, Visa; and other officials from both organizations.
The individuals resident in Bangladesh get two distinct annual cross-border spending quotas: US$12,000 for general international spending and an additional US$10,000 for medical purposes. However, accessing and managing medical quota is usually challenging for users. To address this gap, Visa and BRAC Bank PLC have launched the Medical Debit Card and enable citizens to seamlessly utilize medical quotas in a dual-currency debit card.
On this occasion, Sabbir Ahmed, Country Manager, Bangladesh, Nepal, and Bhutan, Visa, commented, "With this Medical Debit Card, those planning to travel or medical reasons can access their quota through an easy-to-use debit card. With the convenience of debit cards and the trust of two trusted brands, this solution underscores our dedication to empowering consumers with innovative payment solutions to simplify their medical tourism journeys.
Md. Mahiul Islam, Deputy Managing Director and Head of Retail Banking of BRAC Bank, said: "This first-of-its-kind Medical Debit Card reflects our commitment to enhancing the banking experience for our customers, especially at time of emergency healthcare needs.
"This card is designed to provide them with a seamless and convenient way to manage their overseas medical expenses without exhausting their annual travel quota. This initiative comes as uplifting values of the bank touching lives through need-based banking solutions."
People will be able to directly access funds from their bank accounts for treatments, boarding, and lodging without facing any additional roadblocks and challenges. The cardholders will also get discounts and offers on overseas medical treatment.
