Saturday, February 9, 2013

bKash - Nationwide Payment Solution in Bangladesh

bKash Limited (a subsidiary of BRAC Bank) is a Nationwide money transaction service in Bangladesh. It’s a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA. By providing financial services that are convenient, affordable and reliable, bKash aims to widen the net of financial inclusion. bKash wants to provide a solution for mobile financial services, built on a highly scalable mobile money platform, allowing people of Bangladesh to safely send and receive money via mobile devices.

Near about one-third of the population of Bangladesh lives in rural areas where access to formal financial services is difficult. They are the people who are in most need of such services, either for receiving funds from loved ones in distant locations, or to access financial tools to improve their economic condition.

Less than 15% of Bangladeshis are connected to the formal banking system whereas over 50% has mobile phones. These phones are not merely devices for talking, but can be used for more useful and sophisticated processing tasks.

bKash was conceived primarily to utilize these mobile devices and the omnipresent telecom networks to extend financial services in a secure manner to the under-served remote population of Bangladesh.

Money sending and receiving through Nationwide:

  • bKash is the easiest way to send or receive money instantly on your mobile anywhere in Bangladesh.
  • The extensive distribution network with more than 40,000 agents covering each district and Thana along with around 300 BRAC Bank ATMs provides you with the nationwide reach and capacity that you need to avail bKash services at a close proximity.
  • The service is supported by mobile networks of all the leading MNO’s which enables you access your bKash Account even from the remotest areas of Bangladesh.

Faster – send or receive Money in a minute:

  • bKash is dedicated to widening the net of financial inclusion among the people of Bangladesh by facilitating money transfer through mobile phones. bKash provides mobile financial services allowing customers to send, receive, and pay money from their mobile phones.
  • Send and receive money, or make payments the fastest way there is! bKash enables you to send money to anyone, using an advanced technology available on your own mobile phone. The recipient will receive money instantly, no matter where the receiver is.
  • Payments through bKash also makes your life easier as you do not have to go back home or anywhere else for bringing cash when you need to buy something if you are out of cash. Even if you don't have the required amount in your bKash Account, someone else can easily send you the amount in times of need.

Affordable cost:

  • Send and receive money with minimal effort and cost. bKash provides the highest benefit to its customers at an affordable cost, enabling everyone to access the formal financial system of the economy.
  • In addition to eliminating initial monetary costs involved in entering the banking system, bKash greatly minimizes opportunity costs such as time and effort required to access such services. The service charges are minimal and there are no hidden costs involved.
  • Open a bKash Account on your own mobile and experience how bKash saves unexpected and incidental costs for you.

Secure way of money handling:

  • Money in your bKash Account won't be lost even if you lose your mobile phone. Every transaction is protected by your very own PIN and what's more, state-of-the-art technology provided by VISA ensures your money is always safe and secure in our system.
  • Your PIN is your personal identification number that you create when you register for bKash.  Each transaction you make, you need to authorize it by entering your PIN. To ensure 100% safety of your own account, do not share your PIN with anyone.
  • bKash places a high priority on protecting your information  to assure that your transactions and data are secure with bKash. Our security and compliance practices are regularly audited to ensure that they meet the highest standards.

Convenient way:

  • bKash users enjoy increased convenience of accessing their finances from their own mobile phones at anytime, anywhere. bKash gives you the flexibility to perform transactions 24 hours a day, 7 days a week, regardless time and place. No queues no waiting, anytime anywhere; the most convenient way of transferring money.
Be on a bus, or a train, or on a launch, or wherever you want to be; as long as you have a bKash Account on your mobile phone, you can access your account and send or receive money in seconds. The interface of bKash is also very easy. Using a very simple instruction based USSD channel by dialing *247#, anyone can transfer money by tapping a few buttons on his or her mobile phone.

Follow the simple steps:

  • bKash Account: It's a virtual storage of money and can be accessed through mobile phone. After registration, your mobile number will be your bKash Account number.
  • Registration: Opening a bKash Account on your mobile phone.  
  • bKash Mobile Menu: The menu you see after dialing *247#
  • Cash In: Depositing money into your bKash Account.
  • Send Money: Transferring money from one bKash Account to another bKash Account.
  • Cash Out: Withdrawing money from your bKash Account. You can Cash Out from any bKash Agent Point or from BRAC Bank ATM.
  • Payment: When you pay from your bKash Account to a seller against product or service you purchase.
  • My bKash: My bKash is an option on your bKash Mobile Menu from which you can check your account balance, see mini statement, activate ATM Cash Out service and change your PINs.
  • bKash Mobile Menu PIN: This is a secret number like a password to secure your bKash Account.
  • bKash ATM PIN: This is also a secret number to be used when you cash out from ATM.
  • Security Code: Security Code is a onetime PIN. When you Cash Out from ATM, you need to generate a Security Code which can be used only once and remains valid for one hour.
  • Transaction ID: A system generated unique reference number against each transaction that is preserved as identification.

This service is really helpful for the peoples of Bangladesh. I personally use this service often. That’s all for today, thank you very much to read this post. Please visit web portal bKash for further details.


Read other related posts:
Online Payment Gateway in Bangladesh - Paypoint BD 
Make Payment using Shurjomukhi PayPoint
E-Commerce Payment Gateway opened by Bangladesh Bank

About PayPal Transaction in Bangladesh
Online Payment Solutions in Bangladesh

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