bKash: Pioneering financial inclusion in Bangladesh

in partnership with

Huawei

Logo of Huawei

Shaping Smarter, Greener Finance Together

View more
Open Finance
13/11/2023Article

Bangladesh's journey toward economic progress and poverty reduction has been impressive. Still, in a nation of 169 million, a staggering 85 million people lack access to basic financial services.

Enter bKash, a user-friendly mobile payment service that's changing the game. With over 50 million registered users and a presence in one of the world's most densely populated countries, bKash is bringing hope to the unbanked.

22Nov2023
23Nov2023
22/11/2023Conference

Reinvent Forum Bangkok

In a nation where more than 70% reside in rural areas without mainstream banking services, bKash offers a lifeline. It bridges the gap, making deposits, withdrawals, transfers, and payments accessible through feature phones.

Take Raju, for example, working in Dhaka to support his countryside-dwelling family. Sending money back home used to be an ordeal, but now, he securely transfers funds to his wife's bKash account, which she can instantly access from a nearby agent.

Then there's Shudeb Kumar Ghosh, a dairy business owner who faced transaction headaches. Now, he receives payments swiftly on his phone, keeping his business flowing smoothly.

bKash has become a formidable ally in financial inclusion, collaborating with banks and international remittance firms. These partnerships open doors for receipts, payments, and more through bKash distributors.

Bright pink and easily recognizable, bKash's presence stands out against Bangladesh's lush landscapes. Advertising billboards share customer success stories, making bKash a household name.

The service often runs promotions with merchants and offers real-time cash back through Huawei's Mobile Money platform. This user-centric approach is the key to bKash's vision: transforming from a money transfer tool into a lifestyle product.

Working alongside Huawei, bKash aims to develop an app that caters to various customer needs, further expanding its reach and offering financial services that connect with banks.

As bKash continues to strive for a brighter, financially inclusive Bangladesh, it's well on its way to achieving that vision.

Related news & insights

SME Banking
03/12/2024Video

Transforming payments: Banco Santander's fintech ecosystem in action

Álvaro Bujalance Rodríguez, Digital Business & Transformation Lead at Banco Santander, introduces the Spanish bank's payment ecosystem, which integrates fintech...

SME Banking
03/12/2024News

Crédit Agricole's Worklife introduces integrated card for employee benefits

Worklife, a subsidiary of Crédit Agricole, has introduced an innovative solution that consolidates all employee benefits in France onto a...

Digital Reinvention
03/12/2024News

ZA Bank pioneers retail crypto trading in Asia

Through the ZA Bank app, customers can now trade Bitcoin and Ethereum seamlessly using HKD or USD, consolidating traditional banking...

Digital Reinvention
02/12/2024Video

Key insights from the Qorus-Infosys Finacle Innovation in Retail Banking report 2024

Jim Marous, Owner and Publisher of the Digital Banking Report and Co-Publisher of The Financial Brand, shares key insights from...

SME Banking
02/12/2024News

Maybank launches HERpower to boost women-led SMEs in Southeast Asia

Targeting over 43 million women-centric SMEs in Malaysia, Singapore, Indonesia, the Philippines, and Cambodia, this initiative provides tailored solutions to...

SME Banking
02/12/2024News

Garanti BBVA champions SME transformation in Türkiye

This initiative prepares SMEs to adapt to global trends in green and digital transformation, equipping them for long-term success in...

ESG
01/12/2024News

Atom Bank commits to climate positivity with woodland purchase

Atom Bank, the UK’s first app-only bank, has taken a bold step toward sustainability by purchasing 25 acres of newly...

SME Banking
29/11/2024Video

Empowering SMEs: Insights on payment ecosystems and opportunities for banks

Christian Löw, Partner, Financial Services - Payments at EY, share his views on SME payment acceptance ecosystem.