bKash Launches Add Money Service with MastercardMarch 12, 2019 | Dhaka | By Barkha Patel
Wallet loading is now easier than ever on the bKash app, with Mastercard and Southeast Bank
bKash, the largest Mobile Financial Service (MFS) provider in Bangladesh, has launched a new service on its app which will enable all bKash app users to add money from their Mastercard branded debit, credit or prepaid card to their bKash wallets. This service is now a reality with Southeast Bank’s Mastercard Payment Gateway Services (MPGS). Additionally, the service will allow customers to add money to their respective bank accounts and enable them to send money to other bKash accounts. The same bKash cash-in limits will be applicable for this service. This service was announced at a grand launch ceremony in a renowned hotel in Dhaka on March 11, 2019.
For ensuring a safer, faster and more secure transaction experience for customers, bKash has connected its app to Southeast Bank’s Mastercard Payment Gateway Services. bKash will provide uninterruptable service to bKash customers for adding money to their wallets from any Mastercard branded cards instantly from anywhere, anytime. This service will make bKash wallet loading remarkably easier and convenient for Mastercard cardholders and bKash customers.
Present at the ceremony were Mashiur Rahman, Economic Affairs Adviser to the Prime Minister of Bangladesh as the chief guest, Kamal Quadir, CEO, bKash, M. Kamal Hossain, Managing Director, Southeast Bank Limited (SEBL), Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard, and other officials from bKash, Mastercard and SEBL.
In his speech, Kamal Quadir, CEO of bKash, said, “The world economy is evolving every single day, hence connectivity and mutual understanding is now a must to create new horizons for business and client servicing. bKash is a trendsetter, we have been able to establish ourselves as one of the leading MFS providers in Bangladesh. We are glad that now Mastercard branded cardholders can easily load their bKash wallets via the bKash app instantly. Our collaboration with Mastercard will make transactions smoother for both Mastercard cardholders and bKash users in various capacities.”
Kamal Hossain, Managing Director of Southeast Bank Limited, said "To ensure a safe and streamlined wallet loading service, bKash will be using SEBL Mastercard Payment Gateway Services which offers a fast and secure transaction processing facility, and is available round the clock with real-time transaction processing capabilities. Now, bKash customers can add money to their bKash wallets anytime and enjoy the convenience of SEBL’s payment gateway. We are proud to be at the forefront of Bangladesh’s journey towards a digital era.”
Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard, also commented, “Mastercard has been working towards establishing a cashless society in Bangladesh and is delighted to expand its bouquet of services with this new collaboration. Mastercard’s partnership with bKash and Southeast Bank Limited exemplifies the significance of collaboration between Mastercard and the MFS sectors to offer superior consumer experience through interoperable payments solutions. This endeavor will give a huge boost to card acceptance and digital transactions across the nation.”
Launched in 2011, bKash is a joint venture of BRAC Bank, a SME focused commercial bank in Bangladesh, Money in Motion LLC, a USA based company, International Finance Corporation (IFC), the private sector investment arm of World Bank Group and Bill & Melinda Gates Foundation. The ultimate objective of bKash is to ensure access to a broader range of financial services for the people of Bangladesh. It has a special focus to serve the low income masses of the country to achieve broader financial inclusion by providing services that are convenient, affordable and reliable.
About Southeast Bank Limited
Southeast Bank Limited, a second generation private Bank, emerged in 1995 amid liberalization of global economies. Currently, its Authorized Capital is BDT 15,000.00 million and its paid-up-capital and reserve reached BDT 34,056.28 million as of December 31, 2016. Southeast Bank is one of the very few banks in Bangladesh which has both types of the Banking services like “Traditional Banking” and “Islamic Banking”. Currently it is serving its customers through 131 branches including 5 Islamic Banking Branches, 2 Ladies Branches, 135 ATMs and 2 Off-Shore Units across the country. To expand the reach of modern banking facility at the rural area, recently it has also introduced Mobile Banking Services titled “Tele Cash”.
About Mastercard (NYSE: MA)
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.