Thesis on

“Customer Satisfaction of bKash Limited - A Study on bKash

Limited”

[THIS THESIS IS SUBMITTED FOR THE PARTIAL FULFILLMENT OF

THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA)
FROM CHITTAGONG INDEPENDENT UNIVERSITY]

Supervised by-
Mr. Sayeed Hasan
Lecturer
Chittagong Independent University (CIU)

Prepared by
Raisa Hayder Chowdhury
MBA Student
ID# 19251005
Chittagong Independent University (CIU)

Date of Submission:

28th June

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 Letter of Submission

Date: June 28, 2020

Mr. Sayeed Hasan
Lecturer
Chittagong Independent University (CIU)

Subject: Submission of MBA thesis.

Dear Sir,
I am highly delighted to submit my thesis on bKash Ltd. The title of the thesis is
“Satisfaction of bKash Limited - A Study on bKash Limited”. This thesis
has been prepared to fulfill the requirement of my MBA program.

It has been an interesting and very enlightening experience for me to prepare the
thesis on bKash Ltd. I have tried my level best to reflect my study in this thesis
and make this a successful one.

I would like to express my sincere gratitude to you for your kind guidance &
suggestions in preparing the thesis. It would be my great pleasure if you find my
thesis informative and useful to have an idea of recent state of Bkash Ltd.

Sincerely yours

Raisa Hayder Chowdhury

ID: 19251005
Major: Marketing
Department of Business Administration
Program: MBA
Chittagong Independent University

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 ACKNOWLEDGEMENT

I, Raisa Hayder Chowdhury, would like to express my gratitude to almighty Allah

and then all the people who were directly or indirectly involved in the preparation
of my thesis on “bKash Limited”. I also acknowledge the guidance of the officers
of bKash who gave their valuable time to me to equip with information that helped
me tremendously. I will never forget their kind and friendly behavior. I am most
grateful to my thesis supervisor, Mr. Sayeed Hasan, for guiding me to complete
this report.

Finally the thesis has been a great experience for me. It was like an opportunity to
know the real world outside the classroom. I have learned about the corporate
environment and it helped me to improve my soft skills and knowledge. And the
experience which I gathered would be very beneficial in the path of my career.

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 Table of Content

Chapter 1:
Serial No Particular Page No
1.1 Literature Review 9
1.2 Objective of the report 10
1.3 Methodology 10
1.4 Data Collections 10
1.5 Analysis of Data 11
1.6 Limitation of the report 12

Chapter 2:

2.1 History of bKash 13

2.2 Company Profile 14
2.3 Mission 15
2.4 Vision 15
2.5 Objective of bKash 15
2.6 Benefits of bKash 17
2.7 Company Hierarchy (Commercial Division) 18
2.8 Board of Directors 18
2.9 Partners of bKash 20
2.10 Products and Services 21

Chapter-3

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 3.1 BKASH IN BANGLADESH: 24 MILLION 22
CUSTOMERS USING MOBILE MONEY

3.2 Bangladesh: Facts and Figures 23

3.3 Mobile Network Industry 24
3.4 What other impacts bKash could create 24
3.5 Bangladesh moving towards a ‘less cash’ society 26
3.6 Government Project Related Tasks 26
3.7 NGO Onboarding Plan 27
3.8 Training for Effectively KYC Check 27
3.9 Comparative Analysis of bKash Limited 27
3.10 Market Analysis 28
3.11 Mobile Banking 31
3.12 Analysis on Branding 32
3.13 Visibility 32
3.14 Uniqueness 32
3.15 Target Audience 33
3.16 Achievements 33
3.17 Supply Chain of bKash 33
3.18 Agents of Bkash 34
3.19 bKash App Changed with Self-registration and 35
Lifestyle Services

Chapter- 4

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 4.1 Introduction 37
4.2 Purpose of the Project 37
4.3 Limitations 38
4.4 Consumers Attitudes towards Mobile Financial 38
Service

4.5 Population 39
4.6 Sample 39
4.7 Scale of Measurement 40
4.8 Analysis 40
4.9 Ease of Application 41
4.10 General use related satisfaction 41
4.11 Functionality Of bKash System 43
4.12 How will you rate the functionality of bKash app 44

Chapter-5

5.1 Findings 46

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5.2 Recommendations 47
5.3 Conclusion 48
5.4 References 49
5.5 Consumer Satisfaction Survey on bKash 50

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 Chapter 1
INTRODUCTION OF THE REPORT

1.1 Literature Review

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(Amin, Hamid, Lada, & Anis 2008) examined the factors that determine intention
to use mobile banking among BIM Bank's customers. They found that perceived
usefulness, perceived ease of use, perceived credibility, the amount of information
on mobile banking and normative pressure are significant factors in explaining the
acceptance of mobile banking.
Satisfaction has been broadly defined by Vavra, T.G. (1997) as a satisfactory post-
purchase experience with a product or service given an existing purchase
expectation.
 
Howard and Sheth (1969) define satisfaction as, “The buyer’s cognitive state of
being adequately or inadequately rewarded for the sacrifices he has undergone”
(p.145).
 
According to Westbrook and Reilly (1983), customer satisfaction is “an emotional
response to the experiences provided by, associated with particular products or
services purchased, retail outlets, or even molar patterns of behavior such as
shopping and buyer behavior, as well as the overall market place” (p.256).`
 
Oliver (1981) put forward a definition as, “the summary psychological state
resulting when the emotion surrounding disconfirmed expectations is coupled with
the consumers’ prior feelings about the consumption experience” (p.27). The
definition offered by Hunt (1977) is “an evaluation rendered that the
(consumption) experience was at least as good as it was supposed to be” (p.459).
Customer/consumer satisfaction is “an evaluation that the chosen alternative is
consistent with prior beliefs with respect to that alternative” – Definition by Engel
and Blackwell (1982) (p.501).
Binks et al., (1989) have pointed out that operators are not trying to differentiate
their products/services while targeting small business sector. They can’t afford to
do so in future as the markets are becoming more and more heterogeneous. The
authors have strongly recommended that mass marketing must pave way to nice
and customized marketing. They have revealed that Indian customers have lot of
resentment regarding more time taken by operators in rendering services at
counters. The studies have strongly recommended establishing standard timings for
various telecommunication services which, must be abided by the operators.
 

1.2 Objectives of the Study

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The main objective of the study is to identify the customer’s perception regarding
services of   bKash. To achieve the main objective the following specific
objectives have been covered: 
 
1. To know about bKash Limited profile.
2. To know about overall contribution and comparative analysis of bKash
3. To analyze the customers perception level of bKash Limited
 
 
1.3 Methodology of the Study
 
This report is a diligent enquiry and careful search for new knowledge through
systematic, scientific and analytical approach in any branch of knowledge. It is a
systematic effort to gain knowledge, truth or broad principles in a verifiable and
objective way. The present chapter is aimed at explaining the research
methodology adopted for carrying out the report work.
 
  
1.4 Data Collection

Primary Sources of data:

a. Interview: interviewing some officials and concerned experts.
b. Discussion: discussion and informal conversation with the clients and the related
company officials.
 
 
Secondary sources of data:
 
 Annual report of bKash Limited.
 Different publications regarding marketing functions.
 Information about the organization from the company profile.
 Website of bKash Limited
 Internet
 
 

1.5Analysis of Data
 

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The collected data were then properly analyzed to derive the findings of the study.
This report has been developed based on such findings.

1.6 Limitations

Our study has several limitations which creates scope for future researches. First of
all, we consider five factors to evaluate customer satisfaction level of bKash m-
banking. However, additional factors and facilitating conditions could improve the
ability to predict customer satisfaction level of bKash m-banking more accurately.
Furthermore, the structural relationship among constructs and interaction were not
considered while we examine the impact of different factors on behavioral
intention.
Another limitation of this study is the relatively small sample size (40). The sample
size is not going to represent the total population. For this reason, caution must be
applied as these findings may not be generalized to the broader customer
satisfaction level of bKash m-banking m-banking on this study alone. In addition,
the findings and implications were derived from a specific user group in four five
areas only. Therefore, future research is needed to generalize our findings and
discussion by including other groups. Lastly, satisfaction level of individuals
changes over time as they gain experience. Our study measures satisfaction level as
a single point in time, so it would be interesting to examine long term effects of an
individual’s satisfaction level on bKash m-banking. This longitudinal study would
provide better understanding of the causality and the interrelationships between
variables.

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 CHAPTER -2
OBJECTIVE 1-
TO KNOW ABOUT THE COMPANY
PROFILE

2.1 History of bKash

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bKash Limited is a subsidiary of BRAC Bank. It is a joint venture
organization between Money in Motion, LLC, USA and Brac Bank
Limited Bangladesh (bKash, 2013). Its mission is to provide affordable,
convenient and reliable financial service towards the customers. Its
technology platform is Fundamo (visa) (Bangladesh Bank, 2013). It also
has the Full Mobile Financial Service permission. bKash’s mobile
network partners are Robi, Grammen Phone, Banglalink and airtel. It is
the only the mobile financial service provider which has one service
menu for all the operators. It has in total 30,000 agents all over the
country. Still now it has the highest numbers of agents in Bangladesh.
bKash Limited is giving the service of cash in, cash out, send money
(P2P) and payment (payment through organization or in shop). It is
offering free registration and also free balance, statement check and
changing PIN offer. Rather than the authorized agents it is also available
in all Robi WICs, BRAC channel and Continental Courier channel. It’s
highest amount of daily transaction limit is 1,25,000 Taka and highest
amount of monthly transaction limit is 2,50,000 Taka. Also its monthly
highest P2P transaction limit is 25,000 taka (Bank, July 2012). Still now,
bKash is the most visible mobile bank in Bangladesh. It is running heavy
advertising from the beginning. It is running its marketing through TV
advertisement, Radio advertisement, billboard, Poster, festoon, leaflet,
shop pointer etc.

2.2 Company Profile

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bKash Limited is a subsidiary from BRAC Bank. It was first originated in 2010 as
Joint venture between BRAC Bank Limited, Bangladesh and Money in Motion
LLC,USA. In April 2013, International Finance Corporation (IFC) became an
equity partner who is a member of the World Bank Group. Bill & Melinda Gates
Foundation became the investor of the company in April 2014. bKash Limited is
following the great objective to ensure the access towards a broader range of
financial services for the general people of Bangladesh. It focused to serve the low-
income general people of the country by providing services that are reliable,
convenient and affordable.
Type of Private
business

Headquarters Shadhinata Tower, 1, Bir Sreshtha Shaheed Jahangir Gate,

Dhaka Cantonment, Dhaka 1206, Bangladesh

Key people Kamal Quadir (CEO)

Services Payment system

Parent Brac Bank, Ant Financial, Bill & Melinda Gates Foundation,

Money in Motion LLC, International Finance Corporation [1]

URL bkash.com

Launched 2011

Current status Online

Figure 1- Company Profile

More than 70 people among each 100 of the population of the country live in rural
areas where access of the formal financial services is difficult. But these are the
people mostly in need of such services, either for receiving funds from family
members in distant locations, or to access financial tools in order to improve their
economic condition. Less than 15% of Bangladeshis are connected to the formal

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banking system whereas over 68% have mobile phones. These phones are not only
devices for talking, but can be and should be used for more useful and
sophisticated processing tasks. bKash was conceived primarily to utilize these
devices and telecom networks to extend financial services in a secure manner to
the remote general masses of Bangladesh. bKash possesses the most high number
of agents country wide which is more than 160,000 in number who are serving
continuously each and every service that bKash offers.

2.3 Mission

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.

2.4 Vision

bKash vision is to assure a standard that makes every banking transaction a

pleasurable experience. It endeavors to provide its customer supreme service
through accuracy, Building profitable and socially responsible financial institution
focused on Business Market with potential growth all forms of exploitation and
discrimination where everyone has the opportunity to release themselves.

2.5 Objective of bKash

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

2.6 Benefits of bKash

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bKash, as a mobile financial service provider promises it’s users five core benefits
which are fast, affordable, secure, convenient and nationwide. These benefits are
described in a brief below-

Fast
bKash promises it’s consumers to be the fastest transaction process. One can send
and receive money within minutes through bKash.
Affordable
The sending and receiving money through bKash is very low of cost comparing
with global standard. It has been a great advantage for the general people of the
country.
Secure
Each and every transaction of bKash is based on a PIN of personal identification
number which is very secure. Moreover, the bKash account will be fully secure
even if one lost his or her mobile. So bKash is promising the best security in
transaction of money.
Convenient
bKash is highly convenient for its users. People can send and receive money
anywhere and anytime. bKash is serving it’s consumers 24 hours a day and 7 days
a week.

Nationwide
bKash has more than 160,000 agents nationwide and more than 300 ATMs. So the
availability of the service is very high nationwide.

2.7 Company Hierarchy (Commercial Division)

The commercial division is divided into two departments, marketing and sales,
both having their specific and different objectives and responsibilities. The
hierarchy of the whole division starts with the Head of the Division. The
commercial division is divided into some departments such as department of
marketing, department of sales etc. Each of the departments has their own
department heads.

The sales department is sub categorized into several channels to keep the process
active properly. Some of these channels are-
 Sales Operation Channel
 Alternate Channel
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 Business Sales
 Strategic Development Channel

Each and every of these channels have their own heads who are responsible for
their specific channels. Each of these channels maintains a hierarchy from general
managers to officers. The complete hierarchy of commercial division is given
below-

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2.8 Board of Directors

Mr. Shameran Abed, part of the senior management of BRAC microfinance

program
in Bangladesh is the Chairman of bKash. Among the other directors of bKash there
are Ryan Gilbert, Andi Dervishi, Nicholas Hughes, Arun Gore, Iqbal Quader,
Nihad
Kabir, Kazi Mahmood Sattar and Selim R.F. Hussain.

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2.9 Partners of bKash

bKash partnered with Bill and Melinda Gates foundation in April 2014. bkash
itself is a subsidiary of BRAC bank and partnered with the BRAC itself. Moreover,
it is also partnered with the telecom services of the country in order to serve the
best.

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2.10Products and Services
bKash is offering the below mentioned products and services to all of its users,

Cash In
One can load cash in their bKash account through any of the bKash agent or
ATMs.
This process is free of charge.
Cash Out
Users are able to withdraw cash from their accounts from the bKash agents as well
as from the ATMs. bKash charges a very low service charge for this.
Send Money
Money can be transacted from one account to another account virtually through
bKash. The cost is conveniently low and enables users to comfortably send money.
Payment
bKash is available in the majority of market to pay through.
Buy Airtime
People who use mobile are in need of regular airtime. bKash enables it’s users to
directly buy airtime from their accounts.
International Remittance
bKash has tied up with western union and mastercard to receive money from the
foreign countries which has enabled the rural people to directly receive money
from the family members who are living in other countries.
Interest on Savings
Users can enjoy up to 4% of interest annually on their savings in the bKash
account

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 Chapter 3

OBJECTIVE-2
TO KNOW ABOUT THE CONTRIBUTION OF
BKASH

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3.1 BKASH IN BANGLADESH: 24 MILLION CUSTOMERS
USING MOBILE MONEY

bKash is one of the leading Mobile Financial Services in the world. The primary
vision of bKash is to being in greater financial inclusion amongst the unbanked in
Bangladesh. bKash now has four shareholders which are as follows;

 BRAC Bank Limited

 Money in Motion
 International Finance Corporation
 Bill and Melinda Gates Foundation

After receiving a license to operate from the regulator-Bangladesh Bank in 2010,

the journey of bKash started in July 2011. Over the last five years of operations,
bKash has achieved commendable success. The total registered customer now
exceeds 24 million with an active ratio (one financial transaction in a month) of
35%. While bKash started off as a send money platform, it is gradually
transforming itself to a service provider going beyond just send money. bKash has
been consistently trying to expand the suite of services to the customer by
introducing airtime to pup, bulk disbursements, straight to wallet foreign
remittance, collection services, merchant payments & many such more customer
centric products.
In 2013, there were a little more than 75 organizations that were using mobile
money for disbursements and there were 600 outlets where bKash was accepted as
a payment medium. The total transaction in Dec 2013 was approximately USD 1
million. Since then there has been significant efforts by bKash to understand the
customers to further penetrate into the merchant payment arena. One of the key
implementation that was made was “small merchant” payments. Small Merchant is
referred to the omnipresent “Mom & Pop” shops across Bangladesh. The retailing
industry is fairly in the nascent stage in Bangladesh where the presence of
organized outlets is very minimal and the average ticket size is small and hence in
order to make a meaningful impact, digitizing payments in these outlets is key.
The resultant impact of the various initiatives by bKash on the payment front can
be best described through numbers. In June 2016 the total number of organizations
that used mobile money exceeded 700 and the number of merchants accepting
bKash payments now exceeds 30000. The total transaction volume in June itself
exceeded USD 7.5 million.

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Whilst, there has been significant progress in the merchant payment arena there
still remains a massive opportunity further expand digital payments which can
come about through innovation and relevant value proposition both for the
merchant and the customer.

3.2 Bangladesh: Facts and Figures

•8th most populous country with 160 million people, growth rate is 1.5%

•One of the most densely populated countries in the world with around 1200
people per square km.

•Over half of population is under 25 years of age

•There is an equal male-female split.

•Approximately 50 million people live in poverty, on less than $2 per day,

•GDP has been growing at an average of 6% each year for the past 10 years.

•It is still a low income economy with a GDP per capita of around $900

•Institutional Literacy rate is around 55% which is increasing

•300 Microfinance institutions with 24 million borrowers, around 6 million are

active

•71% of the population and 85% of the country’s poor living in rural areas,

•agriculture is an important source of employment, comprising nearly 50% of the

workforce and contributing 17% of the country’s GDP.

• One of the world’s leading exporters of textiles and garments, as well as fish,
seafood and jute.

•The country has diversified its economy through a growing industrial sector,
which contributes 29% of GDP

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•According to IESE business school study on venture capital and private equity
country attractiveness index, Bangladesh ranked 80th out of 116 countries.

3.3 Mobile Network Industry

•Low income country but it is the 10th largest market worldwide in terms of
unique mobile subscribers.

•First MNO started operation in 80s whereas the real industry formed around 2000

•In 2014, 2G coverage is 99.17% by population and 89.50% by area.

•115 million mobile accounts, around 65 million unique customers, 6 operators in

operation, the largest one has 41% of the market share

•In 2003 subscriber penetration was only 1%, and in ten years this grew to almost
60%

3.4 What other impacts bKash could create

•Time and cost saving

•Increased consumer right protection

•Increased sense of empowerment

•Customer satisfaction

•Increased individual/business income

•Cross selling opportunities

•Increased employment

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•Increased amount and frequency of local and cross border remittance

•Financial Inclusivity

bKash Limited, a subsidiary of BRAC Bank, started as a joint venture between

BRAC Bank Limited, Bangladesh and Money in Motion LLC, USA. In April
2013, International Finance Corporation (IFC), a member of the World Bank

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Group, became an equity partner and in April 2014, Bill & Melinda Gates
Foundation became the equity investor of the company.

3.5Bangladesh moving towards a ‘less cash’ society

Bangladesh is moving fast towards a cashless regime with its robust Mobile
Financial Service (MFS), a unique payment innovation that helps China a less cash
nation within a few years and made Sweden a fully cashless society. Bangladesh
Bank data that shows that the average daily transactions through mobile financial
services (MFS) has jumped to Tk 1005.51 crore in September last, which is five
times higher than the amount recorded in the same month in 2014.  And the move
has gained momentum in recent time thanks to rapid growth of smart phone users
and fastest growing MFS industry led by bKash, the largest player in Bangladesh
with more than 32 million subscribers mostly who were unbanked poor. Industry
experts say, Bangladesh can leverage the advantages of a cashless society with
MFS innovation like China where without mobile phone nobody thinks to buy
anything from any market, shopping malls or store.  A total of 18 commercial
banks are involved in MFS service in Bangladesh where bKash is playing
revolutionary role in this landscape thanks to its service innovations that meet
customers’ expectations. More banks are now adopting this innovation to survive
in the highly competitive environment while some of them are making
collaboration with bKash and other operators to avoid high investment. 

3.6 Government Project Related Tasks

bKash Limited has signed a contract with the government owned, Agrani Bank
Limited, to build up a partnership for disbursement of stipend for the secondary
school students. The government wants the rural students to continue their study
despite of having financial issues. That is why government gives them stipend so
that they can continue their study properly. bKash Limited took this responsibility
to send the stipend amount to the receiver through bKash. Around 300,000
students of 2,916 secondary schools are receiving the stipends under Secondary
Education Sector Investment Program (SESIP). The tasks related to this project are
described in the following.

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1. Data entry of all the students’ information in to a single spreadsheet, their
parent’s wallet number and other basic information.
2. Revise and correct the data if any error found as well as finding out the missing
data.
3. I was also responsible to check whether the disbursement process was done.
4. I had to go through the complaint letters from different schools and take
necessary steps to solve them.
5. I had to prepare different data sheet with the undisbursed accounts.
6. I had to put the wallet number in student information sheet by seeing it in paper
letter or other excel sheet.
7. I had to check the duplication of data and edit it.

3.7 NGO Onboarding Plan

Depending on it I had to prepare mental mapping as well as activity plan of the

NGO onboarding. I had also prepared a list based on the mental mapping to
finalize what types of works need to do and which department’s involvement is
essential for NGO onboarding plan.

3.8 Training for Effectively KYC Check

There are training about how to do QC (quality check) on KYC (know your
customer) agent form. Needed to fillip so many KYC agent forms. For this purpose
people have to go BRAC CENTRE to work with their employees in order to check
the KYC agent form. Moreover, there is some communicating session in several
times with BRAC employees to receive the agent KYC form or to give the
accepted and rejected KYC form after doing the quality check.

3.9 Comparative Analysis of bKash Limited

3.10 Market Analysis

Mobile Financial Services (MFS) is an approach to offering financial services that
combines banking with mobile wireless networks which enables users to execute
banking transactions. This means the ability to make deposits, withdraw, and to

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send or receive funds from a mobile account. Often these services are enabled by
the use of bank agents that allow mobile account holders to transact at independent
agent locations outside of bank branches. MFS is still new in Bangladesh and this
report aims to capture its early development and learn lessons.

Access to formal financial services can help households to better plan and manage
their lives. MFS offers the opportunity to build another channel beyond the bank
branch and ATM network to enable millions to have easier access to the formal
banking system. Bangladesh Bank aims to build a commercially viable,
competitive and safe MFS market. Bangladesh has a big market for mobile telecom
business and the industry is expanding quickly. This MFS services is given by the
mobile operators. The estimated total population of Bangladesh was 152,518,015
on 16th July and the total numbers of active mobile phone subscribers are
92,120,000 at the end of May 2012, i.e. around 60.40% of total population use
mobile phones. So MFS have the opportunity to reach around 60.40% of total
population in Bangladesh. (Bank, July 2012)

The MFS market is at an early stage of development as the newest providers are
seeking to stabilize their technology, build out agent networks and acquire new
customers. This involves a complex, sequenced set of activities that includes: (1)
finding and training agents, (2) marketing to bring attention to the service, (3)
acquiring customers using know‐your‐customer (KYC) and account opening
processes while at the same time helping new customers to begin to transact. The
deployments that are most active today are seeking to expand their customer bases
during 2012. (Bank, July 2012) For example, BRAC Bank/bKash and DBBL aim
are aiming for multi‐fold growth during 2012 which could push their combined
customer accounts to between 2 and 3 million within a year’s time, possibly more.
It is hoped that other providers entering the market might also grow and provide
more alternatives and competition. It is still early and much more will be learned
about MFS in Bangladesh over the coming year.

bKash provides six type of services. They are:

 Cash- In
 Cash-Out
 Send Money
 Payment

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Cash- In

This is a process of deposit money to bKash account. This service is provide in the
agent point. The total process is given bellow:

1. Go to any bKash Agent

2. Let the agent know the amount want to Cash In
3. Write down the bKash Account Number and the Cash In amount in the
Agent Register
4. Pay the amount of money want to Cash in
5. In exchange, the agent will send balance to bKash Account.

Cash-Out

If bkash users have sufficient balance in their bKash Account, users can withdraw
cash anytime. There is two way of withdraw money from bkash account, one
option is from agents and another is from BRAC Bank ATM Booth.

Send Money

Send Money allows you to transfer money from one bKash Account to another
bKash Account. To send money the process is given bellow:

 Go to any bKash Mobile Menu by dialing *247#

 Choose “Send Money”
 Enter the bKash Account Number who want to send money to
 Enter the amount who wants to send
 Enter a reference about the transaction.
 Now enter the bKash Mobile Menu PIN to confirm the transaction

Payment

Anyone can make payments from bKash Account to any “Merchant” who accepts
“bKash Payment”. For example, if anyonewant to pay after shopping the process
will be:

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  Go to your bKash Mobile Menu by dialing *247#
 Choose “Payment”
 Enter the Merchant bKash Account Number for pay
 Enter the amount want to pay
 Enter the Counter Number* (the salesperson at the counter will tell you the
number
 Now enter bKash Mobile Menu PIN to confirm (bKash, 2013)

3.11 Mobile Banking

The massive improvement of technologies around the world brings an opportunity
to improve the technological platform of banking sector. The goal of the extending
service of banks with improve technology is to satisfy the desire of customers. One
of the extending services with modern technological advancement is Mobile
Banking. In this process of banking customer are allowed to access into the
banking system in anytime from anywhere.

The requirements for this process are to have a mobile device and mobile network
connection. The core benefit of this mobile banking is to reach to the people who
do not have the access in internet banking or in normal banking procedure. It is
mostly helpful for the people of remote areas (GSMA Mobile and Development
Intelligence, 2012). According to Raseda Sultana, millions of people across the
developing nations are relying on informal economic activities for their living and
most of these people are from the bottom stage of the pyramid. These mass
populations do not have the access into the basic financial services or the regular
banking system. This mobile banking brings the opportunity for these people to get
the banking facility. Now the reason why “mobile banking” is getting greater
emphasize because more there are than 4 billion mobile subscribers who represent
61% population of world. So it is the best way to reach among the biggest portion
of world population. Also, mobile banking needs less processing than general
banking process. It helps the banks to reduce cost, requires less storage facility.
Mobile Banking is also better process among all the other e-banking process. In
internet banking there has the higher risk then mobile banking due to hacking
system. Also to use internet banking people needs extra skills to use computer. On
the other hand, to use Mobile Bank, customers’ needs to have the basic idea about
how to operate mobile in daily life. So to use this mobile banking a great level of
awareness is not needed to create. It is said that mobile banking is one of the best

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thing ever happened in the personal finance management. Through this process
customers will keep them attached with the banking system all the time. This
mobile banking is still in growing business. In some countries mobile banking is
become very much popular while in some countries it is just in the beginning stage.
Though it is in an emerging stage but already mobile banking has created a good
level of impact in world economy.

3.12 Analysis on Branding

In mobile financing industry companies are not those much aware about the
branding because the entire mobile financing service provider is under any BANK.
Beside this it seems that bkash and DBBL mobile banking are far aware about
branding then others. This two service provider shown uniqueness,Emotional
Connections and Consistency in there branding. In bellow we are analysis about
their branding in terms of some core branding characteristic.

3.13 Visibility
This is one of the core requirements for any branding, without proper visibility
level the branding is not profitable. If we talk about bkash branding it is more
visible then other brand. Such as bkash have 73 billboards all over the country and
those are in well visible label. Beside this DBBL have 500 boards in every sub-
District in Bangladesh, but those are not in good visibility level.

3.14 Uniqueness
One of the most important sites of any product or service branding is its
uniqueness. If we see the branding of bkash and DBBL, both the company tries to
be unique in their branding. Beside this if we compare this two then bkash
branding is more unique then DBBL. bKash have boat branding, Car Sticker
branding, Drama Branding, on the other site DBBL try to Branding in a traditional
way newspaper advertisement and TVC. In bellow I show some picture of unique
branding of bkash.

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3.15 Target Audience
In this industry the main target audiences are rural and low income people in our
country. MFS try to provide banking service to the people who are usually not
interesting in banking. So that the company are branding there product to the target
market.If we see the all TVC of bkash and DBBL the made a scenario of rural
people. Beside this bkash is more advance then DBBL they are targeting urban
people also by providing payment service.

3.16 Achievements
bKash Limited, one of the world’s largest Mobile Financial Service companies
received ‘Asia’s Best Employer Brand Awards 2017’ by The World HRD
Congress in their 8th annual edition.
 
Mohammed Ferdous Yusuf, Chief Human Resources Officer, bKash Limited
received the awards on behalf of the company at Le Meridien in Singapore
recently, said a press release.
 
The World HRD Congress features 1784 HR Leaders in strategic capacity from
133+ countries.
 
The Asia’s Best Employer Brand Awards recognizes top organizations which are
exemplary in HR practices and effectively attracts, develops and retains talent.

3.17 Supply Chain of bKash

All kind of procurement and distribution of bKash has been took place through
Supply chain and Procurement department which works under Finance division.
bKash follows centralized

In general, Total Supply chain process performs in following order:

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3.18 Agents of bkash

Many of the people in our country use this Mobile Financial Service and Bkash
have around 24 million customer. At present half of the total Banks in Bangladesh
are involving with this MFS services. Among those mfs service providers majority
two players are actively doing their operation in the market – Dutch-Bangla Bank
Limited (DBBL) Rocket and bKash of BRAC Bank. Both these two bank have
around 100% coverage in terms of area of Bangladesh.
Bkash has its agent everywhere of the country and its customer do not need to
move far for making a transaction. To provide a smooth service to huge amount of
customer of bkash is increasing its agent and their facility. Customer are able to
receive the money transferring service from through mobile phone from the agent.

Agents get few amount of profit in every transaction of bkash. Registering for or
opening a new account for bKash and cashing-in services of a account are totally
free of charge. Considering the size of the potential customer base, bKash adopted
a highly scalable electronic payment

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3.19 bKash App Changed with Self-registration and Lifestyle
Services

bKash app has been revamped with more personalized and interactive services to
help users take precise decisions while doing financial transactions. From today
(12 September), the new version of bKash app is available to update or download
from Google Play Store and Apple App Store. The redesigned app is feature-
packed with existing main services, self-registration, best bKash offer, suggestions,
offers suited for the user, QR code scanning and many more.
This new version of the app is an important step to transform bKash into a platform
that contributes in making every financial decision smartly for the customer. One
more time, bKash unveils the continuous commitment of empowering the
customer. Through this update, the most loved Bangladeshi app has got a much
better user interface with convenient services and location based offers. This app
will keep changing its placement of icons and offers according to the usage pattern,
lifestyle and location of the users. bKash app will give any new user the
opportunity to explore the app as a guest even without having any bKash account.
If anyone is interested, s/he can instantly open an account within a few minutes
using the self-registration option in the app.

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 CHAPTER 4

OBJECTIVE 3-

CONSUMER
SATISFACTION SURVEY

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4.1 Introduction

In this competitive market place every business competes with each other for
acquiring consumers. Businesses who have achieved success in these competitive
environments are the ones that make consumer satisfaction a vital part of their
business strategy. Consumer satisfaction is a significant term because it provides
proper measurement of satisfaction so that business owners and marketers can use
to manage and flourish their businesses. Still some businesses are not considering
consumer satisfaction as an important element and that is why they are lagging
behind in terms of success rate. So it is necessary to determine the consumer
satisfaction level of every company as consumers are the key to achieve success.
bKash Limited is a private limited company which is created especially to provide
mobile financial services in Bangladesh. Its mission is to provide affordable,
suitable, convenient and consistent financial service towards the consumers. The
utmost objective of bKash is to assure a wide range of financial services for the
people of Bangladesh.
Furthermore, it is very tough for the people who live in rural areas to access the
formal financial services. That is why it has an extraordinary focus to serve the low
earning groups of the country. bKash have brought some products and services to
make the life more easier of general people. Very successfully bKash has
established and raised their identity. It is a very happy news that bKash is now
serving 3 core consumers through 2 lac agents and covering 64 districts
successfully. People can now easily send money, bill payment, do shopping
through bKash. bKash believes that consumes/clients are their greatest strength.
Therefore they are committed to provide quality services for their consumers.
Although the bKash is growing fast but at the same time market is becoming more
competitive. As a result bKash is trying to determine how to retain the satisfaction
level of the consumers as well increasing the customer base.

4.2Purpose of the Project

The main purpose of the project is to measure the consumer satisfaction level of
bKash as a mobile financial service provider (MFS). In order to gain this broad
objective I have sorted out the following specific objectives
1. Finding out the consumer satisfaction levels basing on the individual products
and services of bKash.
2. Measuring the loyalty level of bKash users.
3. Determining the user friendliness of bKash.
4. Understanding the mental map of bKash users.

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4.3Limitations

Confidentiality code
bKash officials maintain a high level of confidentiality about their data and
information. For this reason secondary data sources was quiet limited.
Access to information
Interns are not allowed to access the bKash main server. That is why I have faced
some limitations of consumer based information.
Unavailability of online information
Due to high sensitivity bKash does not allow much insight on the internet. Thus it
was quite difficult to access secondary data and research reports on bKash.
However, all the respondents of the survey are educated and use internet regularly.
They can be students, officers, teacher housewives and entrepreneurs. I could not
collect data from deep rural people because of time limitation. So the findings of
the analysis are based one highly educated people.

4.4Consumers Attitudes towards Mobile Financial Service:

From this study we can find some factors which in influencing the customer
attitude about the acceptance of mobile financial service in Bangladesh. Expected
value of customer regarding the internet and mobile banking which they are getting
from this service. Customer service relevant to mobile financial service and
infrastructural facility, these are two more factors which we can identify from this
topic. By adjusting of these two factors bkash can ensure more beneficial service
for its customer Marketers are intended to set some regulations and rules for the
expansion of mobile financial service in Bangladesh. Customer faces some
difficulties to operate their transactions through mfs and for this regards they are
will to make some regulation for more benefits of customer.

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Some of financial institutions offers its customer innovative services to its
customer for more benefit and comfortable use of this service. In Our country it
has not seen before. From startup bkash is still trying to give much offer and better
service for its users and competing against Rocket of DBBL which starts earlier
than bkash. Now, in this market we can see much other company which is also
providing this same service. But they are still enough far to give remarkable
service and catch up the market leader. From the beginning bkash focusing on
development and more improvement of their service. They always try to keep
update with their technology, establish a strong agent networks and acquire new
customers (Islam, 2014).
At present time people who using mfs service bkash expressed a positive feedback
regards mobile financial services as it makes their life easy, comfortable,
convenience, trust, security, risk reduction, availability of agents points etc of the
MFS.Now mfs user prefer bkash, most that bksah has captured a unique position in
the mind of customers because of its user friendliness service and heavy mass
communication to every place of Bangladesh.

4.5 Population
The population of this report is all the remaining consumers of bKash Limited
inside
Bangladesh as bKash main aims is to serve all the people of Bangladesh.

4.6 Sample

Sample is the subset of a population depending on it the main research has been
Organized. I have used Convenience Sampling Method for this research. The
sample size is 80. Among them 44 were male and 36 were female. In terms of
percentage,55% were male and 45% were female.

Female 45

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Male 55
 Percentage

Figure 2: Percentage of Male and Female Sample

0 10 20 30 40 50 60

4.7 Scale of Measurement

For conducting the survey I have used Nominal scale and 5 points of Likert scale
as these two scales are easily constructed and popular for general people.

4.8 Analysis
Total 15 questions were asked basing on 5 areas. These were ease of application,
Customer service prowess, access to the market, transaction policy and availability
of the service points. Rest of the three questions was general questions. The results
of the analysis of each area have been given below.

4.9 Ease of Application

The first area was easing of application on which I have tried to determine the
satisfaction level of consumers how they feel when they used the application of
bKash. The questions that I have prepared for this area were-

-How do you feel about bKash application in terms of general use?

-How will you rate the functionality of bKash application?
- How will you rate the user friendliness of bKash application?

4.10 General use related satisfaction

Figure 3: How do you feel about bKash app in terms of general use

How do yo feel about bKash app interms of

general use
90 80
80
70
60 54
50
40
Numbe
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20 15
10
10 1 0
0
 Difficul l
t

From this chart we can say that out of 80, 15 people think it is very easy to use the
bKash application. 54 people think it is easy to use bKash application, 10 people
are moderate about this matter. Only 1 person thinks that it is difficult to use bKash
application in their day to day life. Lastly, no one thinks that it is very difficult to
use bKash application.

1.25% 0%

12.50%
18.75%

Very Easy Easy

Moderate
Difficult
VeryDifficult

67.50%

Figure 4: How do you feels about bKash app in terms of general

From this figure we can understand that 18.75 percentage people consider that it is
a very easy application. 67.50 percentages believe that bKash application is easy to
use.12.50 percentage people are moderate and only 1.25 percentages consider that
it is difficult to use bKash application. So we can say that most of the people of the
sample size are satisfied in order to use the application of bKash.

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4.11Functionality of bKash System

How will you rate the functionality of bKash

application
90
80
80
70
60
50
42
40 Series1

30 25
20
11
10
2 0
0
Very FastFastModerateSlowvery SlowTotal

Figure 5: How will you rate the functionality of bKash app

After asking this question 11 people believes that bKash application works very
fast, 42 people considers that the application works fast, 25 people are moderate
and only 2 people thinks that it works slow.

Figure 6: How will you rate the functionality of bKash app

2.5% 0%

13.75%

Very Fast
31.25%
Fast
Moderate
Slow
52.5%
very Slow

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This figure says that 13.75% people consider that the bKash application works
very fast, 52.5% people accepts this fact that it works fast, 31.25% people’s
opinion are moderate and 2.5% people believed that the application of bKash is
slow. No one said that it is very slow. Overall we can say that the consumer
satisfaction level about the functionality of bKash application is good.

4.12 Facing problem while paying through bKash

Have yo ever faced or heard of any problem

while paying through bKash anywhere
60

50 48

40
32
30
Serie…
20

10

0
Yes No

Figure 7: Have you ever faced or heard any

problem while paying through bKash
anywhere

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 CHAPTER-5

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5.1 Findings

The main purpose of this survey is to measure the consumer satisfaction level of
bKash as a mobile financial service. This survey helped to know the satisfaction
rate and also the dissatisfaction rate of consumers. However, it is not possible for
any organization to satisfy their consumers always for each and every sector. But
still the main goal for all organization is to keep satisfies all of their consumers.

5.2 Recommendations

bKash Limited should work on customer service representative’s skills and

also on their problem solving skills. Because they are the one from whom
consumers take information and help. Sufficient training and guidance is
necessary how to solve the consumer’s problem effectively and efficiently.
As consumers want immediate solution for their problems, CSR should be
also very fast otherwise consumer’s dissatisfaction level can be very high in
future. Thus, it can decrease the loyalty level of consumers for bKash
Limited.

60% respondents said that they have faced or heard problems while paying
through bKash. bKash Limited should do an extensive survey in order to
know what types of problems consumers are facing while payment and find
out the ways to solve them.

Sometimes the existing users of bKash Limited face some difficulties while
requesting for a new pin after they had forgotten the old one or somehow
blocked it. This problem occurs as bKash Limited only allows 1 hour portal
to reset the pin. It is very short time because anyone can busy with another
work and for that reason they could not check the message. So, the
organization should extend the time to reset the pin.

A number of times some fraudulent individuals try to trick people through

bKash and harm them financially. Moreover, these types of people often
steal the money of other by unfair means. bKash Limited should upgrade
their security policy or introduce a completely new security system that will

45 | P a g e
 be hard for the law breakers to con the users as well as much easy for the
general people.

5.3 Conclusion

bKash Limited is one of the leading mobile financing services of Bangladesh who
were the pioneer in this sector. They have been serving their wide range of users
great quality products and services since 2010. At present they are now serving
more than three (3) crore of its regular users through a number of two (2) lac
agents as service points. The ultimate objective of bKash is to ensure access to a
broader range of financial services for the people of Bangladesh. Moreover, it has a
special focus to serve the low income population of the country in order to acquire
broader financial inclusion by providing services that are affordable, reliable and
convenient.

Within my three months long period in bKash I had a wonderful experience and
got to know a lot about the company as well as the corporate sector of Bangladesh.
I have also experience the great company culture of bKash Limited and have
acquired much insight about the organization. I have also gained much knowledge
on the work process as well as the organizational policies of the bKash Limited.

After completing the consumer satisfaction survey on bKash Limited it is much

clear through the findings of the specific survey that the consumers of the bKash
are much satisfied on the products and services of the company as a mobile
financial service provider. On the other hand, through the survey I have also
learned that though the consumers are satisfied but bKash Limited need to upgrade
and improve on some specific areas such as skills of the customer service
representatives, security of the transaction, pin setting issues etc. It is very
necessary in this competitive industry for bKash Limited to retain their topmost
position as a mobile financial service provider in the country.

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5.4 References

BKash in Bangladesh: 24 million customers using mobile money. (2016, August 31). Retrieved
from https://globalpaymentsummit.com/bkash-bangladesh-24-million-customers-using-mobile-
money/

BKash App Changed with Self-registration and Lifestyle Services. (n.d.). Retrieved from
https://www.bkash.com/news/bkash-app-changed-self-registration-and-lifestyle-services

Bristi, N. (n.d.). Customer attitude towards bKash: Bangladesh's first complete mobile financial
service provider. Retrieved from
https://www.academia.edu/12107305/Customer_attitude_towards_bKash_Bangladesh_s_first_co
mplete_mobile_financial_service_provider

Comparative Analysis of bKash Limited. (2016, March 10). Retrieved from

https://www.assignmentpoint.com/business/management/comparative-analysis-of-bkash-
limited.html

Groom Q (2014) The distribution of the vascular plants on the North Frisian Island, Amrum.
Biodiversity Data Journal 2: E1108. https://doi.org/10.3897/BDJ.2.e1108. (n.d.).
doi:10.3897/bdj.2.e1108.figure2f

Http://ljournal.ru/wp-content/uploads/2016/08/d-2016-154.pdf. (2016). doi:10.18411/d-2016-154

Independent, T. (n.d.). Bangladesh moving towards a 'less cash' society. Retrieved from
http://www.theindependentbd.com/printversion/details/190063

Sun, T. D. (2017, August 16). BKash gets Employer Brand Awards. Retrieved from
https://www.daily-sun.com/printversion/details/248116/bKash-getsEmployerBrand-Awards

Analysis of Bkash Agent Service and Agent Satisfaction. Retrieved from

http://dspace.uiu.ac.bd/bitstream/handle/52243/1522/bkash%20Project%20Report-pdf.pdf?
sequence=1&isAllowed=y

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5.5 Consumer Satisfaction Survey on bKash

Dear bKash User,

The main purpose of this survey is to know about the consumer satisfaction level
on bKash Limited as a mobile financial service provider in order to provide the
best quality products and services. We appreciate you for giving us your precious
time in filling up this survey.

1. When did you first open your bKash account?

 Less than (6) months ago
 Within six (6) months – one (1) year ago
 Within one (1) – two (2) years ago
 Within two (2) – three (3) years ago
 More than three (3) years ago

2. Which of the following words will you use to describe bKash?

 Fast
 Affordable
 Secure
 Convenient
 Nationwide
 All of the above
 None of the above

3. How do you feel about bKash system in terms of general use?

Very Easy Easy Moderate Difficult Very

Difficult

4. How will you rate the functionality of the bKash system?

Very Fast Fast Moderate Slow Very Slow

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5. How will you rate the user friendliness of the bKash system?

Excellent Good Average Bad Worst

6. What do you think about the service charge of bKash?

Very High High Average Low Very Low

7. How will you rate the service charge basing on affordability of general people?

Very High High Average Low Very Low

8. How will you rate the security of the transaction process of bKash?

Excellent Good Average Bad Worst

9. How do you feel about their problem solving skills?

Excellent Good Average Bad Worst

10. Are you going to recommend bKash to your friends and family?
 Yes
 No

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