Google’s digital payment service ‘Google Pay’ is finally going to be officially launched in Bangladesh. According to sources, the service is going to begin within the next one month in the digital transaction system of the country.
In the early stages, customers of City Bank will be able to associate their visa and mastercard (Bangladeshi currency) with Google Wallet and make payment by phone at any NFC (Near Field Communication)-Said Terminal. However, other banks of the country will also be involved in this service step by step.
City Bank and Google have taken the responsibility of implementing the project together. When launched, users can easily make ‘Tap and Pay’ payment at the Contactless Point of Sale (POS) terminal, which will make their shopping faster, safe and modern.
Digital wallet services usually conduct touching financial information and transactions, but according to sources, Google Wallet will not store user information. Therefore, Bangladesh Bank does not need direct approval to start the app.
Users will only add to their bank card app, and all transactions will be completed through their respective banks. However, banks who are preparing to connect with digital wallet should be informed to the central bank before starting the service.
Google Wallet usually does not charge users’ shopping, online payment or ‘peer-to-peer’ transfer like transfer, if they use their own bank account or debit card. However, the cardholder bank can impose fees based on their own policies, card types and nature of the transaction.
However, sources said that if Google processed this local transaction through the international server for some reason, the fee may be.