Genex Infosys Ltd and City Bank PLC signed an agreement to enhance card payment systems for EFDMS devices nationwide, integrating City Bank’s payment gateway into Genex’s EFD machines. The partnership aims to revolutionize card transactions, providing a seamless experience. Genex will deploy City Bank’s card payment gateway across the bank’s network, facilitating transactions and VAT invoice generation. The agreement supports building a cashless society and expanding VAT collection, aligning with government advancement efforts. A shared revenue model on card transactions processed through EFD devices benefits both parties. City Bank’s Additional Managing Director expressed enthusiasm, highlighting the collaboration’s role in expanding digital payment solutions. The partnership, concluded with a ceremonial signing, is expected to drive innovations and improve electronic transaction efficiency across Bangladesh.
Source for more details:
