Mobile banking of bkash in Bangladesh

04/10/23

Premier University B.B.A

Semester :6th

Section “A”

22 Batch

Banking & InsuranceAssignment on: Mobile banking of bkash in Bangladesh

Submitted toLecture: Ms.Tasmia Tahlil

Department of FinanceFaculty of Business Administration

Premier University, Chittagong.Group: B

Presentater Name & Id :

Name ID

1.Md. Ariful Islam Saimon Chy 1022114412

2.Md. Shahadat Hossain 1022114372

3.Rasheda Sharmin 1022114388

4.Md.Shazzad Hossain 1022114384

5.Imteaj Ibna Hossain 1021114362

6.Md. Rashed 1022114413

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04/10/23

Mobile Banking also known as M-Banking or SMS Banking is a term used for performing balance check, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone. bkash Limited, a subsidiary of BRAC Bank, provide mobile banking facility. Is a joint venture between BRAC Bank Limited, Bangladesh, and Money in Motion LLC, USA. The ultimate objective of bkash is to ensure access to a broader range of financial services for the people of Bangladesh.

Mobile Banking

What is bkash?B- Kash is the taster means to transfer money from one Place to another via mobile phone and a simple secure and (convenient place to store money. Besides b- kash can be used to make payments, pay bills, purchase items whether physical items

whether physical or electronic. B- kash focuse lowest income people who are unknown to banking service those people may not have higher education and which people live in rural are in Bangladesh .b-kasha

want provided banking services thus area are not coverage banking facilities for participating economical development by all level of people

Year Launched : 2011 Business Model : Consumer

Targeted Device :Basic /Feature Phone Primary Delivery Technology : SMS/USSD

Products & Services : Payments Markets Deployed In : Bangladesh

Estimated Number of Users : 2.2 Million

Company Profile

bkash maintains a huge network to provide its

services. A simple form of the network is shown

below for illustration.

Workings of bkash

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 the people of Bangladesh to safely send and receive money via mobile devices

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 the people of Bangladesh to safely send and receive money via mobile devices

Mission of bkash

ASsk

About bkash :

. Supporting objectives are:

To know the repayment of using b- kash mobile banking .

To know what are the services provided by b- kash & how it serve its customer

To know what are the persons behind using bkash than other monetary service available instead of.

To know what are the areas cover and or served by b- kash.

To know the customer contentment in using B- kash.

To know the framework of Bkash

To find opportunities for bkash.

Supporting objectives are:

To know the repayment of using b- kash mobile banking .

To know what are the services provided by b- kash & how it serve its customer

To know what are the persons behind using bkash than other monetary service available instead of.

To know what are the areas cover and or served by b- kash.

To know the customer contentment in using B- kash.

To know the framework of Bkash

To find opportunities for bkash.

Objectives of the study : Main objective of our study is to identify the role of bkash in

changing the life of people

The bkash served its services within the boundary of

Bangladesh . Almost in every districts are served by b- kash

though its huge network consists of agents retailers etc. There are many bkash centres are available in Bangladesh . A summary is given picture :

Bogra

Scope of the bkash

Mr.Shameran Abed

Director

Professor Dr. Jamilur Reza CAhoudhury Director

Mr. Shib Narayan Kairy Director

Nihad KabirDirector

Mr. Iqbal QuadirDirector

Board of Directors

Mr. Muhammad A.(Rumee)AliChairman

bkashbkash

Services provided by

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FastAffordable

Nationwide

Secure Convenient

Benefits of bkash

Bkash Account – It's a virtual storage of money and can be accessed throughmobile phone.

After registration, one’s mobile number will be his/her bkash Account number.Registration – Opening a bkash Account on one’s mobile phone.bkash Mobile Menu – The menu one sees after dialing *247#

Cash In – Depositing money into one’s bkash Account.

Send Money – Transferring money from one bkash Account to another bkash Account.Cash Out – Withdrawing money from one’s bkash Account. One can Cash Out from any bkash Agent Point or from BRAC Bank ATM. Payment – When one pays from his/her bkash Account to a seller against product or service s/he purchases

Terms and Definitions

My bkash – My bkash is an option on one’s bkash Mobile Menu from which one can check his/her 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 one’s bkash Account.bkash ATM PIN – This is also a secret number to be used when one cashes out from ATM.Security Code – Security Code is a onetime PIN. When one cashes Out from ATM, one needs 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.USSD Channel - Unstructured Supplementary Services Data Channel, a Gateway that routes USSD messages from the signaling network to a service application and back. USSD messages travel over GSM signaling channels and are used to query information and trigger services. Unlike similar services (SMS and MMS), which are store and forward based, USSD establishes a real time session between mobile handset and application handling the service.

Terms and Definitions

To open a bkash Account:01. Go to any of your nearby bkash Agent along with - a. Your mobile phone b. A copy of your Photo ID (National ID/Passport/Driving License) c. 2 copies of Passport size photographs02. Fill out the Account Opening Form and put your thumb print and signature properly. Please make sure that you have taken your copy (customer copy) from Agent and preserve it for future reference.After opening an Account, you need to activate your bkash Mobile Menu. Follow the steps below to activate your mobile menu-01. Go to bkash Mobile Menu by dialing *247#02. Choose “Activate Mobile Menu”03. Enter a new PIN for your bkash Account04. Enter the PIN again to confirmDone! You will receive a confirmation message from bkash. Please keep your PIN secret all the times.

How to open an bkash AccountHow to open an bkash Account

Use following steps to pay now:You can make payments from your bkash Account to any “Merchant” who accepts “bkash Payment”. For example, if you want to pay after shopping:•Go to bkash Menu by dialing *247# ? Choose 'Payment' option by pressing '3'•Enter our business wallet number : 01768700284•Enter BDT. amount you have to pay : xxxx•Enter a reference against your payment : xxxx•Enter the counter number : 1•Now enter your PIN to confirm: xxxx•Done! You will get a confirmation SMS

Use following steps to pay now:You can make payments from your bkash Account to any “Merchant” who accepts “bkash Payment”. For example, if you want to pay after shopping:•Go to bkash Menu by dialing *247# ? Choose 'Payment' option by pressing '3'•Enter our business wallet number : 01768700284•Enter BDT. amount you have to pay : xxxx•Enter a reference against your payment : xxxx•Enter the counter number : 1•Now enter your PIN to confirm: xxxx•Done! You will get a confirmation SMS

Other procedure

Check BalanceYou can check your bkash Account balance anytime you want from the "Check Balance" option. To check your current Account balance -01. Go to your bkash Mobile Menu by dialing *247#02. Choose “My bkash”03. Choose “Check Balance”04. Enter your Mobile Menu PINYou will see the current and available balance of your bkash Account.Request StatementTo see a Mini Statement with details of your latest transactions:01. Go to your bkash Mobile Menu by dialing *247#02. Choose “My bkash”03. Choose “Request Statement”04. Enter your Mobile Menu PIN

Check BalanceYou can check your bkash Account balance anytime you want from the "Check Balance" option. To check your current Account balance -01. Go to your bkash Mobile Menu by dialing *247#02. Choose “My bkash”03. Choose “Check Balance”04. Enter your Mobile Menu PINYou will see the current and available balance of your bkash Account.Request StatementTo see a Mini Statement with details of your latest transactions:01. Go to your bkash Mobile Menu by dialing *247#02. Choose “My bkash”03. Choose “Request Statement”04. Enter your Mobile Menu PIN

You will see the Change Mobile Menu PINFor ensuring the security of your bkash Account, it is recommended that you change your bkash Mobile Menu PIN when you feel that it may have been compromised. To change the PIN:01. Go to your bkash Mobile Menu by dialing *247#02. Go to “My bkash”03. Choose “Change Mobile Menu PIN”04. Enter your “Old PIN”05. Enter a new PIN to replace the old one06. Enter the new PIN again to confirmActivate ATMTo avail the bkash ATM Cash Out service, you need to activate this feature from your bkash Mobile Menu. This is a onetime action. To activate the ATM Cash Out service:01. Go to your “bkash Mobile Menu” by dialing *247#02. Go to “My bkash”03. Choose “Activate ATM”04. Enter a new 5 digit PIN. This PIN will be your “bkash ATM Cash Out PIN” and is better to make it different from your “Mobile Menu PIN”05. Enter the PIN again to confirmYou will receive a confirmation message stating that you have successfully activated ATM Cash Out service.Change ATM PINFor ensuring the security of your bkash ATM Cash Out PIN, it is recommended that you change it when you feel that it may have been compromised. To change the PIN:01. Go to your bkash Mobile Menu by dialing *247#02. Go to “My bkash”03. Choose “Change ATM PIN”04. Enter your old PIN05. Enter a new 5 digit PIN to replace the old one06. Enter the new PIN again to confirmYou will see a confirmation on your mobile that you have successfully changed your old PIN.

You will see the Change Mobile Menu PINFor ensuring the security of your bkash Account, it is recommended that you change your bkash Mobile Menu PIN when you feel that it may have been compromised. To change the PIN:01. Go to your bkash Mobile Menu by dialing *247#02. Go to “My bkash”03. Choose “Change Mobile Menu PIN”04. Enter your “Old PIN”05. Enter a new PIN to replace the old one06. Enter the new PIN again to confirmActivate ATMTo avail the bkash ATM Cash Out service, you need to activate this feature from your bkash Mobile Menu. This is a onetime action. To activate the ATM Cash Out service:01. Go to your “bkash Mobile Menu” by dialing *247#02. Go to “My bkash”03. Choose “Activate ATM”04. Enter a new 5 digit PIN. This PIN will be your “bkash ATM Cash Out PIN” and is better to make it different from your “Mobile Menu PIN”05. Enter the PIN again to confirmYou will receive a confirmation message stating that you have successfully activated ATM Cash Out service.Change ATM PINFor ensuring the security of your bkash ATM Cash Out PIN, it is recommended that you change it when you feel that it may have been compromised. To change the PIN:01. Go to your bkash Mobile Menu by dialing *247#02. Go to “My bkash”03. Choose “Change ATM PIN”04. Enter your old PIN05. Enter a new 5 digit PIN to replace the old one06. Enter the new PIN again to confirmYou will see a confirmation on your mobile that you have successfully changed your old PIN.

Cash InTo deposit money into your bkash Account:01. Go to any bkash Agent02. Let the Agent know the amount you want to Cash In03. Write down your bkash Account Number and the Cash In amount in the Agent Register04. Pay the amount of money you want to Cash In05. In exchange, the Agent will send balance to your bkash Account. Cash In done!You and the Agent will both get a confirmation message from bkash. Remember to sign the Agent Register before leaving the counter.From Agent cash outIf you have sufficient balance in your bkash Account, you can withdraw cash anytime from any bkash Agent. To Cash Out from your bkash Account:01. Go to any bkash Agent02. Let the Agent know the amount you want to Cash Out03. Write down your bkash Account Number and the amount in the Agent Register04. Dial *247# on your mobile for the bkash Mobile Menu05. Choose “Cash Out”06. Choose “From Agent”07. Enter Agent’s bkash Account Number (ask the Agent)08. Enter the amount09. Enter your bkash Mobile Menu PINDone! You and the Agent will both receive a confirmation message. Count the amount the Agent gives you to make sure it is correct and sign the Agent Register before leaving the counter

Cash InTo deposit money into your bkash Account:01. Go to any bkash Agent02. Let the Agent know the amount you want to Cash In03. Write down your bkash Account Number and the Cash In amount in the Agent Register04. Pay the amount of money you want to Cash In05. In exchange, the Agent will send balance to your bkash Account. Cash In done!You and the Agent will both get a confirmation message from bkash. Remember to sign the Agent Register before leaving the counter.From Agent cash outIf you have sufficient balance in your bkash Account, you can withdraw cash anytime from any bkash Agent. To Cash Out from your bkash Account:01. Go to any bkash Agent02. Let the Agent know the amount you want to Cash Out03. Write down your bkash Account Number and the amount in the Agent Register04. Dial *247# on your mobile for the bkash Mobile Menu05. Choose “Cash Out”06. Choose “From Agent”07. Enter Agent’s bkash Account Number (ask the Agent)08. Enter the amount09. Enter your bkash Mobile Menu PINDone! You and the Agent will both receive a confirmation message. Count the amount the Agent gives you to make sure it is correct and sign the Agent Register before leaving the counter

Send MoneySend Money allows you to transfer money from your bkash Account to another bkash Account. To send money:01. Go to your bkash Mobile Menu by dialing *247#02. Choose “Send Money”03. Enter the bkash Account Number you want to send money to04. Enter the amount you want to send05. Enter a reference about the transaction. (Do not use more than one word, avoid space or special characters)06. Now enter your bkash Mobile Menu PIN to confirm the transactionDone! You and the Receiver both will receive a confirmation message from bkash. Buy Airtime Buy Airtime allows you to recharge Mobile Airtime from your bkash Account. You can buy airtime for your own mobile phone or for someone else's mobile phone.Follow the steps below –1. Go to your bkash Mobile Menu by dialing *247#2. Choose “Buy Airtime”3. Choose your operator4. Choose your connection type5. Enter the 11 digit mobile number you want to buy airtime for6. Enter the amount of airtime you want to buy7. Enter your bkash Mobile Menu PIN to confirm Done! You will receive a confirmation message from bkash.Currently, this service is available for any bkash Account holder to Buy Airtime for Robi Prepaid numbers and all Airtel numbers.

Send MoneySend Money allows you to transfer money from your bkash Account to another bkash Account. To send money:01. Go to your bkash Mobile Menu by dialing *247#02. Choose “Send Money”03. Enter the bkash Account Number you want to send money to04. Enter the amount you want to send05. Enter a reference about the transaction. (Do not use more than one word, avoid space or special characters)06. Now enter your bkash Mobile Menu PIN to confirm the transactionDone! You and the Receiver both will receive a confirmation message from bkash. Buy Airtime Buy Airtime allows you to recharge Mobile Airtime from your bkash Account. You can buy airtime for your own mobile phone or for someone else's mobile phone.Follow the steps below –1. Go to your bkash Mobile Menu by dialing *247#2. Choose “Buy Airtime”3. Choose your operator4. Choose your connection type5. Enter the 11 digit mobile number you want to buy airtime for6. Enter the amount of airtime you want to buy7. Enter your bkash Mobile Menu PIN to confirm Done! You will receive a confirmation message from bkash.Currently, this service is available for any bkash Account holder to Buy Airtime for Robi Prepaid numbers and all Airtel numbers.

International Remittancebkash brings you the easiest and most convenient way of sending and receiving International Remittance.To send International Remittance from abroad to a bkash Account in Bangladesh:• Go to a participating Exchange House branch• Let the Agent know that you want to send money to Bangladesh through bkash• Fill out the bkash related fields correctly on the remittance request form available at the Exchange House• The Exchange House Agent will help you complete rest of the processWhile sending remittance through bkash, please ensure that:• Recipient’s number is a bkash Account number and belongs to one of the operators who is partnered with bkash (currently Robi, Grameenphone, Banglalink or Airtel i.e. 018, 017, 019 or 016).• The destination bkash Account number is entered as the 11 digit Bangladeshi mobile number starting with 018, 017, 019 or 016 e.g. 01XXXXXXXXX. The international dialing and country code should not be included i.e. there is no “+88”.• Recipient’s bkash Account number is correct.• The number has been written clearly & accurately in the correct field.• The BDT Value of sent remittance does not exceed bkash standard transaction limits.Countries and Exchange Houses from which you can send Remittance to Bangladesh:• UAE - Al Rostamani International Exchange (ARIE) - Al Ahalia Money Exchange Bureau - Orient Exchange• UK - BRAC Saajan ExchangeNote: To find your nearest Exchange House branch, please click on the name of the respective participating Exchange House above.To receive International Remittance on your bkash Account:• To receive International Remittance through bkash, you first need to have a bkash Account. To open a bkash Account, go to your nearby bkash Agent along with 2 copies of your Passport size photographs, a copy of your Photo ID (National ID/Passport/Driving License) andyour mobile phone (Robi/Grameenphone/Banglalink/Airtel).• Communicate your bkash Account number to the sender. The sender will use this number for terminating the remittance amount. • When the money reaches your bkash Account, you will receive a confirmation message on your mobile phone.• No charge is applicable to receive International Remittance on your bkash Account. You have to pay bkash standard Cash Out Charge only when you need to withdraw money from bkash Agent or BRAC Bank ATM.

International Remittancebkash brings you the easiest and most convenient way of sending and receiving International Remittance.To send International Remittance from abroad to a bkash Account in Bangladesh:• Go to a participating Exchange House branch• Let the Agent know that you want to send money to Bangladesh through bkash• Fill out the bkash related fields correctly on the remittance request form available at the Exchange House• The Exchange House Agent will help you complete rest of the processWhile sending remittance through bkash, please ensure that:• Recipient’s number is a bkash Account number and belongs to one of the operators who is partnered with bkash (currently Robi, Grameenphone, Banglalink or Airtel i.e. 018, 017, 019 or 016).• The destination bkash Account number is entered as the 11 digit Bangladeshi mobile number starting with 018, 017, 019 or 016 e.g. 01XXXXXXXXX. The international dialing and country code should not be included i.e. there is no “+88”.• Recipient’s bkash Account number is correct.• The number has been written clearly & accurately in the correct field.• The BDT Value of sent remittance does not exceed bkash standard transaction limits.Countries and Exchange Houses from which you can send Remittance to Bangladesh:• UAE - Al Rostamani International Exchange (ARIE) - Al Ahalia Money Exchange Bureau - Orient Exchange• UK - BRAC Saajan ExchangeNote: To find your nearest Exchange House branch, please click on the name of the respective participating Exchange House above.To receive International Remittance on your bkash Account:• To receive International Remittance through bkash, you first need to have a bkash Account. To open a bkash Account, go to your nearby bkash Agent along with 2 copies of your Passport size photographs, a copy of your Photo ID (National ID/Passport/Driving License) andyour mobile phone (Robi/Grameenphone/Banglalink/Airtel).• Communicate your bkash Account number to the sender. The sender will use this number for terminating the remittance amount. • When the money reaches your bkash Account, you will receive a confirmation message on your mobile phone.• No charge is applicable to receive International Remittance on your bkash Account. You have to pay bkash standard Cash Out Charge only when you need to withdraw money from bkash Agent or BRAC Bank ATM.

Transaction LimitsTransaction Type Maximum Number of

TransactionsAmount Per Transaction Maximum Amount

Per Day Per Month Minimum (Tk) Maximum (Tk) Per Day (Tk) Per Month (Tk)

Cash In 5 20 50 25,000 25,000 150,000

Send Money 20 70 10 10,000 10,000 25,000

Buy Airtime 50 1500 10 1,000 10,000 100,000

Payment No Limit No Limit 1 No Limit No Limit No Limit

Cash Out from Agent

3 10 50 25,000 25,000 150,000

Cash Out from ATM

3 10 2,000 20,000 25,000 150,000

International Remittance

5 20 50 150,000 150,000 150,000

Tariff & Limits

Applicable Transaction Limits for sending/receiving International Remittance through bkash:

Make payments at the following outlets using bkash.

Robi

Grameenphone

Banglalink

Airtel

BRAC

Bill & Melinda Gates Foundation Fundamo, a Visa company

Partners of bkash:

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Research on bkash Users

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Gender Frequency Percentage (%)

Male 90 60

Female 60 40

Age of the respondents No. of Respondents Percentage [%]

Below 25 years 30 20 25-30 years 50 33 30-35 years 40 27 35-40 years 15 10 40-50 years 9 6 Above 50 years 6 4 Total 150 100

According to Gender

A study on 150 people shows the following result

According to age


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Living area No. of Respondents

No. of Respondents

Remote village 25 16.6Advanced village 27 18Modern village 55 36.6Urban 43 28.7Total 150 100

Educational qualification No. of Respondents Percentage [%]

Up to primary 23 15

Above primary to secondary

42 28

Above secondary to higher secondary

31 21

Higher secondary to graduation

44 29

Post graduation and above 11 7

Total 150 100

According to area

According to Education

Occupational Status No. of Respondents Percentage [%]

Garments workers 60 40

Students 37 24.6 Government service holder 17 11.33

Private service holder 22 14.67

Business person 14 9.33 Total 150 100

According to Occupational status

Agreeable level of opinion No. of Respondents Percentage [%]

Strongly Agree 18 12

Agree 42 28

Neither Agree or Nor Disagree

33 22

Disagree 40 26.7

Strongly Disagree 17 11.3

Total 150 100

According to personal opinion


Based on previous three years transaction we can show the growth benefits reasons for showing interest by

more people for using bkash to faster receive

or store money

Findings

Years

SMS Banking bKashServices are provided through SMS Services are provided through USSD menu

Very few services (mainly information) are provided

Wide range of services

No Transaction can be made Transaction can be made Bank account is required Bank account is not required No agent involvement Agent involvement is present

Services includes: Services includes: Cash In

Instant Account Balance & Mini Cash Out

Statement Send Money Fixed Deposit Maturity Alarm

Payment High Value Transaction Alert

International Remittance Account status change alert

Check Balance Welcome alert (for account opening)

Request Statement Payment (loan) failure alert Change Mobile Menu PIN

Cheque clearing failure alert Activate ATM

bkash Vs. SMS Banking

Challenges:What are the internal and external challenges currently faced?One of the core challenges stems from the perception of technology maintained by low income users. For example, many users mistakenly think that they require advanced skill to use the technology. A similar issue arises in that users often think that advanced English is required to use bkash (although, in fact, very little English is required to use the service). bkash’s education program seeks to overcome these issues, “our menu is so easy to use that, once a user becomes familiar with the steps, she or he can opt for the required service by simply choosing a numerical input and not have to respond with any text reply”. (the same point was mentioned earlier: seems repeating) With a longstanding perception that “advanced and modern things” are not for them, low income users are led to believe that they are dependent on others for receiving a service. “Breaking this vicious cycle is one of the toughest parts of taking bkash to a level where physical cash would be obsolete.”

Looking back, looking forward:What key lessons have been learnt, and what are the organisation’s future objectives?One important lesson is the difficulty experienced by low income users in activating features on their phones. However, as phones reaching financially constrained audiences become cheaper, internet-enabled, and have more intuitive features, bkash is optimistic that this area of difficulty will improve. “This would increase the ease of accessing services on mobile phones and hence increase mobile literacy.” bkash have also learned that human contact, one-to-one or one-to-many education and training sessions, are essential components in their educational efforts. “When our sales teams and agents interact with individuals and explain the service, users learn very quickly.” Looking forward, bkash aims to keep contributing to the nation’s socio-economic development. Fundamentally, this is facilitated by moving increasing numbers of people operating outside the formal banking facility into an expanding financial system. bkash also makes further use of this system: “All the little amounts can potentially add up to provide larger pools of capital to address larger problems. The organization is putting all the little idle bits of capital to use to move the country’s economy forward. Problem Statement Mobile banking is a totally new concept in Bangladesh. Although there are some banks that provide m-banking service but services are different than bkash limited. bkash has some agents in different location of the country but other bank’s has not agents. They only have ATM boot from where customer can withdraw money.

Competitors

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The main competitors of bkash limited are

They are also providing some facilities of mobilebanking for their customers. They are providing

different types of new offers to improve their business.

Name of CompetitorsDutch Bangla bank ltd

Mobi cash

Islami bank ltd M-cash

UCBL U-cash

Now a day’s bkash limited has gotten a big popularity in Bangladesh. It is the easiest way to sending and receiving money from any corner of the country to another corner of the country. People can use it easily, so there are a few problem people are facing for using bkash limited. Problem No 1: No recovery system of Money: People may make mistake to send their money by using their mobile phone, but there is no recovery system to recover money from wrong number in bkash limited. Causes of problems: As bkash limited is a mobile based banking system, so there are so many causes for occurring this problem. a. Someone may input wrong amount of money for sending. b. Customer may press wrong button of his mobile phone. c. Customer may input wrong number for sending his/her money.

Problem No 2: Higher service charge The service charge of bkash limited is higher than normal banking system. This problem is decreasing intention of using bkash service to the customers. Causes of higher service charge: Sender has to pay a charge for sending money; receiver has to pay some charges also for collecting money to bkash. On the other hand, receiver has to pay 5 tk commissions to the agents also. After adding all charges the service charge gets higher

Problems and Solutions of bkash limited

Problem No 4: Not Available agent There are so many Mobile recharging shops in different location in Bangladesh. But everybody is not agents of bkash limited. So, the number of agent of bkash limited is very few in the rural area or village area of different district in Bangladesh.Causes of the Problem: Some retailers don’t want to take the risk of money for their clients. If the retailer makes the mistake for sending money, he has to repay the money to the client because of no recovery systems in bkash limited. On the other hand, agents get a small amount of commission from bkash limited.

Problem No 5: Less External Security The external security of bkash limited is very lower than normal banking. In a normal bank, customer makes their transactions after entering an ATM booth or into the bank office. So, bkash service is more risky than other normal bank. Causes for the problem: Most of the shops of agent’s of bkash limited are in open places where people gather everyday. For example, the shops are situated in a market which is the risky zone for money. Thief may attack the customers after withdrawing money from bkash as the customers withdraw money in the public place and less external security.


Problem No. 5: Provided Poor service Causes of the problem Customer service center or touché point is not everywhere.Hot line service process is lengthy and costly.Request statement is not show all time. Air buy service is not available. Solution of the problemMore customer touché points can improve customer service.Technological improvement can meet the committed services more efficiently.

Problem No. 6:Agency’s Insufficient fund.Challenges of the problem Though bkash service is provided through agents so all the time they may not have available fund.Solution of the problem

Appointing supervisor around the country to monitor fund availability can reduce this One of the core challenges stems from the perception of technology maintained by low income user problem.

A similar issue arises in that users often think that advanced English is required to use bkashWith a longstanding perception that “advanced and modern things” are not for them, low income users are led to believe that they are dependent on others for receiving a service.OpportunitiesIt reaches almost every district in Bangladesh.People have a good image about bkash.
