Mastercard, Islami Bank launch digital payment ecosystem at Rajshahi University

Global digital payment solution provider Mastercard, in collaboration with Islami Bank Bangladesh PLC, has launched the country's first fully cashless university campus at Rajshahi University under Bangladesh Bank's "Cashless Bangladesh" initiative.

The transformation will allow students, faculty, and visitors to conduct quick, secure, and convenient digital transactions across campus facilities, significantly reducing reliance on cash and accelerating the adoption of smart financial services.

Prof Mohammad Main Uddin, pro-vice-chancellor (administration) of Rajshahi University, inaugurated the digital payment ecosystem as the chief guest, according to a press release.

As part of the initiative, Rajshahi University is being equipped with digital payment tools such as Point-of-Sale (POS) machines and Bangla QR, ensuring that all campus transactions from cafeterias and bookstores to administrative offices can be completed digitally.

In addition, an exclusive debit card for students was launched at the ceremony, offering them a convenient and secure means of managing their daily financial needs.

Mohammad Jamal Uddin Mazumder, additional managing director of Islami Bank Bangladesh PLC, said: "This reflects our ongoing commitment to driving digital transformation, fostering financial inclusion, and empowering students and faculty with seamless, secure payment solutions that enhance their daily lives."

"The launch of a dedicated student debit card will further strengthen this ecosystem."

Syed Mohammad Kamal, country manager for Bangladesh at Mastercard, added: "By introducing modern digital payment solutions and a dedicated student debit card, we are not only supporting the vision of a truly 'Cashless Bangladesh' but also demonstrating how innovation can empower young communities and accelerate the nation's journey towards a robust digital economy."

Rathin Kumar Paul, director of Bangladesh Bank's Rajshahi Office; Md Sharafat Ullah Khan and Rafeza Akhter Kanta, directors of the Payment Systems Department at the central bank; along with senior officials from Islami Bank Bangladesh PLC and Mastercard, were also present.