bKash and Robi claim first ‘complete’ mobile financial service in Bangladesh

26 Jul 2011

bKash, a BRAC Bank subsidiary, has launched what it describes as Bangladesh’s ‘first complete mobile financial service’, offering customers a range of banking and other financial services via their mobile phones regardless of whether they have a bank account or not. bKash offers a secure method of saving, making payments and carrying out money transfers. Customers are provided with a fully encrypted bKash mobile wallet account, which has been developed on a VISA technology platform to enable secure transactions. Customer accounts can be credited with electronic money either as salary, loan, or as domestic remittance. The cash can then be moved out as electronic money to any of the cash-out agents assigned by bKash. bKash has partnered with mobile operator Robi (Axiata Bangladesh) and with BRAC to expand the scope of its services through Bangladesh. The company has already employed 500 agents and is in the process of adding more agents to its network. ‘This will highly benefit the country as 83% of the population lives on under USD2 a day and access for finance can help in improving the economic situation,’ said Rumee Ali, chairman of BRAC and bKash. Michael Kuehner, managing director and CEO of Robi, added that the partnership between a dedicated mobile financial service and a mobile operator will help in ‘revolutionising’ payment methods.

Bangladesh, Robi Axiata,

Subscribe

Subscribe to CommsUpdate to get the day’s top telecom headlines delivered to your email.

Subscribe to CommsUpdate

Browse

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share