bKash (Bengali: ?????) is a mobile financial service in Bangladesh operating under the authority of Bangladesh Bank as a subsidiary of BRAC Bank Limited. This mobile money system started as a joint venture between BRAC Bank Limited, Bangladesh and Money in Motion LLC, United States of America. bKash users can deposit money into their mobile accounts and then access a range of services, in particular transferring and receiving money domestically, making payments and buying airtime top-up. In April 2013, International Finance Corporation (IFC), a member of the World Bank Group, became an equity partner and in March 2014, Bill & Melinda Gates Foundation became an investor in the company.
Fortune magazine ranked bKash among the top 50 companies in the list of "Change the World" in 2017. According to them, 22% of Bangladeshi adults use bKash with around 4.5 million daily transactions.
Video BKash
History
bKash was launched in July 2011 in Bangladesh, with basic services: cash in, cash out, send money, airtime top-up and bills payment keeping in mind that more than 70% of the population of Bangladesh lives in rural areas where access to formal banking services is difficult.
Maps BKash
Coverage
bKash can be accessed via several telephone networks in Bangladesh. bKash's agent network covers both urban and rural areas in much of Bangladesh. As of 2018, bKash was the largest provider of mobile financial services (MFS) in Bangladesh.
In June 2017 there were some 17 providers of mobile financial services (MFS), but the two largest, bKash and Rocket, had a combined market share of over 99%. In this month total MFS transactions were in excess of Tk 1,000 crore ($3.68 billion USD).
bKash has requested official permission to provide loan and insurance services.
References
External links
- Official website
Source of article : Wikipedia
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