United Commercial Bank PLC (UCB) recently signed an agreement with the global digital payment service provider Visa.

Mohammad Shafiqur Rahman, head of retail business division at UCB, and Sabbir Ahmed, country manager for Nepal, Bhutan and Bangladesh at Visa, signed the agreement in Dhaka, according to a press release.

Mohammad Mamdudur Rashid, managing director and CEO of the bank, attended the programme and stated, "This agreement marks a historic moment for UCB. We are committed to leveraging this partnership to play a pivotal role in the digital transformation of the country's financial sector."

Ahmed said, "This agreement will elevate UCB's payment services to new heights and contribute significantly to the development of Bangladesh's digital economy."

"We are proud of this partnership with UCB and remain committed to driving further innovative initiatives in the future," he added.

This partnership will unlock new possibilities for UCB's innovative growth and strengthen its position in the digital payment ecosystem.

As part of the agreement, Visa will provide financial incentives across seven key categories if UCB meets the specified conditions.

If UCB successfully increases the volume of domestic and international transactions, the incentive amount could further grow.

This agreement will help establish UCB as a leading digital payment provider in Bangladesh and ensure more advanced and secure payment solutions for its customers.

Nabil Mustafizur Rahman and Abul Alam Ferdous, additional managing directors of the bank, and Md Abdullah Al Mamoon, deputy managing director, along with other senior officials, were also present.