EBL launches prepaid cards for students, teachers, youth

Eastern Bank Limited (EBL) in collaboration with SS Business Corporation recently unveiled the exclusive Visa co-branded prepaid International Student Identity Card (ISIC), International Teacher Identity Card (ITIC) and International Youth Travel Card (IYTC) at a ceremony in Dhaka.

The co-branded prepaid cards come with EMV-secured chip technology and offer a number of exclusive benefits for the customers, including dual currency and great discounts at thousands of partnered lifestyle, shopping and dining merchants, among others, reads a press release.

This card will not only be used as payment card but also a student and teacher identity cards.

The cards will be usable for both domestic and international transactions.

The card comes with up to 65% discounts on study-related websites, gadgets, hotels and motels, movie theaters, car repairs, restaurants, gyms, coffee shops, and so on.

Eastern Bank Deputy Managing Director and Head of Retail and SME Banking M Khorshed Anowar, Nahid Farzana, head of cards at EBL, Visa Bangladesh Country Director Soumya Basu and SS Business Corporation Group Managing Director Sumon Talukder were present at the launching ceremony.

The ISIC card is now issued to students in over 130 countries or territories.

Ali Reza Iftekhar, managing director and CEO of EBL, said, "We all know that an important prerequisite for establishing Digital Bangladesh is the maximum inclusion of our youth across digital financial platforms and the EBL ISIC Visa Prepaid Card, which is not just a payment card but rather a carefully designed financial tool with a number of value added services, can be an excellent first step towards financial inclusion for the young demographic of our country."

Soumya Basu, country manager of Bangladesh, Bhutan and Nepal at Visa, said, "Digital payments are expected to boost the country's GDP by 1.7% or an additional $6.2 billion  and this adoption often happens at scale with a 'nex-gen' or next generation of consumers like students."

“All bona fide students over the age of 12 can buy an ISIC card at an affordable price. Through one single card, ISIC students gain preferential and discounted access to products, services and experiences relevant to all aspects of student life, from software licences and access to cinemas, bookstores, public transport, cafés and eateries,” according to a media statement.

“The ISIC Association aims to play a supporting role in improving intercultural understanding, increasing educational opportunities and facilitating student life across the world. The ISIC card has been endorsed by the United Nations Educational, Scientific and Cultural Organization (UNESCO) since 1968.”