Market Digest

BRAC Bank cancels online transactions for 10 e-shops

Staff Correspondent

24 June, 2021 12:00 AM printer

BRAC Bank has canceled the online transactions with 10 e-commerce platforms amid growing allegations of holding money without providing product or services.

The e-commerce platforms include Evaly, Alesha Mart, Dhamaka Shopping, E-ornage, Siranjgaonj Shop, Aladiner Prodip, Qcoom, Boom Boom, Adyen Mart and Needs..

“It is a strategic decision,” Ekram Kabir, executive vice-president at BRAC Bank, told the Daily Sun on Wednesday.

In a notice posted in its website, the bank cancelled with immediate effect all credit, debit and pre-paid card transactions for the e-commerce merchants.

BRAC Bank authorities came up with the decision as hundreds of customers of some e-commerce platforms had raised allegations about not getting products on time after paying in advance through the cards, said the bank.

The bank has sent a cautionary message through emails and SMS texts to its customers in this regard.