A platinum credit card was launched in Bangladesh yesterday through a partnership between Prime Bank and international payment channel Japan Credit Bureau (JCB) Co for the first time.

JCB Platinum Credit Card bears no annual fee in the first year. The facility prevails in succeeding years if 20 transactions are made annually. Otherwise, the fee is Tk 5,000.

Moreover, the payment option comes along with a supplementary card, for the spouse, parents or children of the primary credit cardholder. It also offers free access to VIP lounges at airports worldwide. Introducing the card through a press conference at InterContinental Dhaka, the bank said some 120 million JCB cards had been issued in over 20 countries.

With the fast economic growth, Bangladeshis have been increasing their travels and this is what prompted JCB to launch the card here, said Yuichiro Kadowaki, executive vice president of JCB.

JCB not only wants to expand its business in the Bangladesh market but also promotes a cashless society and financial inclusion, he said.

The card has features which have strengthened the bank's digital transaction platform, said Rahel Ahmed, the bank's managing director.

The partnership is part of the bank's digital transformation, he said, adding that they were working as a priority partner with Japanese businesses, which were fast growing in numbers in Bangladesh.