City Bank, MTB too suspend card transactions with Evaly, some other merchants

City Bank, the market leader in credit cards, and Mutual Trust Bank have also suspended its card transactions with four and 10 e-commerce merchants respectively.

“Transactions at selected e-commerce merchants are temporarily suspended with immediate effect using any City Bank card,” the bank said in a text message sent to its customers on Thursday night.

City Bank did not mention names of the merchants in the message. But MTB in a message to its cardholders mentions 10 merchants, including Evaly Alesha Mart.

Earlier, three banks suspended card transactions with Evaly and some others amid rising allegations against the online shopping malls.

The other stores are: Alesha Mart, Dhamaka, E-orange, Sirajganj Shop, Aladiner Prodip, Qcoom, Boom, Adyen Mart and Needs.

BRAC Bank did it first on Wednesday while Dhaka Bank and Bank Asia on Thursday.

Bangladesh Bank has recently carried out an investigation against Evaly. According to the report, Evaly did not deliver more than 50 percent of the orders they took and customers are complaining about it.

However, the industry insiders said that the decisions were made over allegations that these online shopping platforms are engaged in fraudulence with their customers.

There are reports that Evaly has been running business offering its customers unusual cash back like 100 percent or 150 percent on advance payment for a product.

E-commerce business experts argue that no sustainable firm can give 100 percent or more cashback against purchase of a product.