A strategic evaluation of demand for China-compatible cards among Bangladeshi merchants of City Bank PLC

Abstract

The paper examines the payment challenges faced by Bangladeshi businesses during their commercial transactions in China. It examines the feasibility of developing a business card functional in China under the surveillance of City Bank PLC. This study examines their expenditure patterns, bill payment methods, and reliance on informal payment systems. The findings indicate that affluent businessmen choose formal mechanisms such as Letters of Credit. Nonetheless, several small and medium-sized enterprises continue to employ unregulated payment methods due to their ease of use and the limited availability of alternatives. There exists a pronounced dissatisfaction with the existing solutions across all domains, accompanied by a substantial need for a card-based solution that is secure, lawful, and effective. This study indicates a burgeoning gap in the industry, presenting City Bank PLC with a strategic opportunity to contribute to the development of a tailored cross-border card product that addresses businesses needs while facilitating more efficient and transparent international business transactions.