Prime Bank PLC has entered into an agreement with Service Hub Limited (PayStation) to expand access to flexible payment solutions for its customers, according to a media release issued by the bank.
The signing ceremony took place at Prime Aspire, located on Gulshan Avenue in Dhaka. The partnership is designed to enhance customer convenience by integrating instalment-based and digital payment services into the bank’s existing offerings.
Under the terms of the agreement, customers of Prime Bank PLC will be able to avail themselves of Equated Monthly Instalment (EMI) facilities through Service Hub Limited, operating under the PayStation platform. This arrangement allows cardholders and account users to convert eligible purchases into manageable monthly payments, thereby improving affordability and financial planning.
In addition to EMI facilities, Prime Bank account holders will gain the ability to make payments via internet banking across a network of more than 1,000 PayStation-affiliated merchants nationwide. This expanded merchant access is intended to streamline transactions and broaden the usability of digital banking services for everyday payments.
The agreement was formally signed by Joarder Tanvir Faisal, Executive Vice President and Head of Consumer Assets and Cards at Prime Bank PLC, and Mohammed Faruk Hossain, Managing Director of Service Hub Limited. Their participation reflects the operational leadership overseeing consumer banking services and payment infrastructure development within their respective organisations.
Also present at the ceremony was A. Z. M. Fouz Ullah Chowdhury, Senior Vice President and Head of Digital Channels at Prime Bank PLC, along with other senior officials from both institutions. Their presence underscores the collaborative approach being taken to implement and manage the partnership.
Key Features of the Agreement
| Item | Details |
|---|---|
| Partner organisations | Prime Bank PLC; Service Hub Limited (PayStation) |
| Core service | EMI (Equated Monthly Instalment) facilities |
| Digital payments | Internet banking access |
| Merchant network | More than 1,000 PayStation merchants |
| Signatories | Joarder Tanvir Faisal; Mohammed Faruk Hossain |
| Venue | Prime Aspire, Gulshan Avenue, Dhaka |
The initiative reflects a broader trend within Bangladesh’s banking and financial services sector towards digitisation and customer-focused payment solutions. By enabling instalment-based payments alongside a wide merchant network, the collaboration is expected to facilitate more flexible financial transactions for consumers while supporting the continued expansion of electronic payment ecosystems in the country.