• Trust Bank partners with TerraPay to streamline cross-border payments for Bangladeshi students.
  • Solution offers faster tuition fee payments and living expense management for students abroad.

What happened: Trust Bank partners with TerraPay to simplify cross-border payments for Bangladeshi students studying abroad

Trust Bank has partnered with TerraPay to launch an international payment solution tailored for Bangladeshi students studying abroad. The collaboration aims to simplify tuition fee payments and living expense management, offering a secure and efficient alternative to traditional payment methods.

The solution leverages TerraPay’s global payment infrastructure to provide real-time transaction tracking, competitive exchange rates, and enhanced transparency. It enables students and their families to send funds to educational institutions and student bank accounts in key destinations. This initiative aligns with Bangladesh Bank’s regulatory framework, which supports student-related payments, and marks one of the first approved partnerships between a local bank and a licensed Payment Service Provider (PSP).The partnership reflects Trust Bank’s commitment to customer-centric services and TerraPay’s expertise in cross-border payments, following its recent collaboration with Dubai Duty Free to optimise digital wallet payments.

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Why it’s important

The partnership between Trust Bank and TerraPay addresses the growing need for efficient cross-border payment solutions for Bangladeshi students studying abroad. With over 700,000 Bangladeshi students pursuing education overseas, the demand for streamlined tuition fee payments and living expense management is significant. Traditional payment methods often involve delays, high fees, and lack of transparency, creating challenges for students and their families. In addition, the solution leverages TerraPay’s global payment infrastructure to provide real-time transaction tracking, competitive exchange rates, and enhanced transparency. The collaboration not only benefits students but also strengthens Trust Bank’s position as a customer-focused institution, while showcasing TerraPay’s capability to deliver innovative payment solutions.