B2B payment solution between Travelzoo Bangladesh Ltd and EBL

An agreement was signed between Travelzoo Bangladesh Ltd and EBL. Eastern Bank Limited (EBL) will be providing virtual credit card services to the agents of Travel zoo Bangladesh Ltd, an online travel agency.

As per the agreement, any agent of Travelzoo Bangladesh ltd will get up to Tk10 (Ten lakh) credit facilities under EBL Diners Club (DCI) credit card rules, free of any security. Apart from this, there is an opportunity to get TK 25 (Twenty Five lakh) credit but with security. (Subject to applicant’s financial strength analysis as per EBL credit policy)

“Small & Medium size business will be benefited the most by this union, whereas the new entrepreneurs will be able to establish their business using this as a great opportunity.”

Definitions:

  1. B2B Payment Solution/portal: EBL is currently using DCI B2B payment solution Module for this service. Business to business solution or portal through virtual credit card that offer corporate clients the ease of sending and received payments electronically.
  2. Application: application form to apply for B2B payment solution provided by EBL
  3. RCN: RCN means Real card number, i.e. after approval of the application, EBL will issue RCN with a maximum unsecured credit limit of BDT 10.00 Lakh & maximum TK 25 Lakh.
  4. VCN: VCN means Virtual Card Number i.e., corporate client generate virtual card number each time they need to pay to Travelzoo Bangladesh Ltd.
  5. PIN: Personal Identification Number.
  6. POS: POS means Point of Sales
  7. E-com: payment gateway means a mode of payment using online E-Commerce payment Gateway namely EBL SkyPay.
  8. Power Card: Power card means cards related software of EBL.
  9. Service: B2B payment solution service.
  10. Payment: EBL payment within minimum 15 days or maximum 45 days as mentioned in the statement from EBL.
 

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