bKash, the largest mobile financial service provider in the country, has partnered with Visa, the global leader in payments technology, to enable the loading of bKash wallets through Visa cards by ‘Add Money’ service. Soon, millions of bKash customers will be able to load their wallets using Visa debit and credit cards and pay for their daily purchases.
With this partnership, customers can login to their bKash app and link their Visa card credentials to the wallet to add money using Visa cards. With this ‘always on’ service, bKash customers can experience a seamless and secure way of funding bKash wallets. Eastern Bank Ltd (EBL) will provide the technological support for this service and ensure interconnectivity between Visa and bKash for other services as well.
TR Ramachandran, Group Country Manager, India and South Asia of Visa; Ali Reza Iftekhar, Managing Director and CEO of EBL and Kamal Quadir, CEO of bKash; exchanged the agreement at a simple ceremony at bKash head office yesterday. Soumya Basu, Director, Business Development Leader, South Asia, Visa; M. KhorshedAnowar, Head of Retail and SME Banking of EBL and Mizanur Rashid, Chief Commercial Officer of bKash were also present there along with other high officials.
TR Ramachandran, Group Country Manager, India and South Asia, Visa said, “Visa is committed to deepening its partnerships in Bangladesh. We are proud to partner with bKash and provide a seamless experience to millions of Visa customers funding their wallets using Visa cards. As mobile payments are becoming one of the preferred ways to pay, Visa will continue to partner with new age enablers of digital payments and provide the best of its payment services to the country.”
Ali Reza Iftekhar, Managing Director and CEO of EBL said, "This bKash and Visa handshake will go further for the cause of digital Bangladesh and create an ecosystem for card users to have greater reach and touch points for cashless transactions"
Kamal Quadir, CEO of bKash Limited said, “The partnership will cater superior customer experience for both VISA and bKash. The time consuming process of standing in queues for credit card bill payment will no longer be required. It also opens opportunities for VISA and banks to design products and services for common people which now can be channeled through bKash.”
Over the coming months, Visa will also enable bKash customers to pay their Visa credit card bills through the bKash App. A first-of-its-kind service, this will ensure a hassle-free, fast, secure and reliable experience for the growing number of users adopting Mobile Financial Services in Bangladesh.
Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion, International Finance Corporation, Bill and Melinda Gates Foundation and Ant Financial, operates as a payment service provider offering a broad range of digital financial services under the regulation of Bangladesh Bank.