Competition in Mobile Financial

Services In Bangladesh
The journey of Mobile Financial Services (MFS) is on its 5th year. Many
players are in the market and doing their best to take the vision forward.

MFS Vision in Bangladesh

• Provide mobile phone based financial service through a broad based

agent network.

• Ensure security and convenience in monitory transactions.

• Promote access to formal financial services at affordable cost especially

for the poor and unbanked population segment.
MFS in Bangladesh (database)

• MFS Method in Bangladesh: Bank-led model.

• Regulator Form: Bangladesh Bank (Central Bank).

• No of Approved Bank for MFS: 28.

• No of Bank started to Provide the Service: 20.

• No of Agents: .54 million (Oct, 2015).

• No of Registered Clients (lac): 30 million (Oct, 2015).

• No. of daily average transaction: 3.57 million (Oct, 2015).

• Average daily transaction (in BDT): 4.34 billion equivalent Us $ 54 million

(Oct, 2015).
MFS Achievements in Bangladesh
 Financial Inclusion: Agent based financial service is a more feasible option than setting
up bank branches in the 68,000 villages of the country to serve the country’s largely
unbanked population.

 Bringing Rural Sales into Banking Channel: Brings idle cash in millions of shops in rural
areas into the banking channel.

 Cost-cutting: Mobile technology lowers the high cost of bank terminals (by almost 90
percent).

 Time Saving: The use of automated delivery channels saves time for customers as well
as bank staff.

 Discouraging Cash Transfer: Electronic payments lower the risks of corruption and
leakages by increasing transparency.
MFS Service Providers in Bangladesh
Together with the regulator, most of MFS are doing their best to make a place in the
market share

Dutch Bangla Bank Mobile Banking United Commercial Bank -

bKash Limited
UCash

IFIC Mobile Banking mCash EXIM Bank

MFS Service Providers in Bangladesh (Cont..)

SureCash Bangla Cash

Hello Cash Hello

 MFS Market Competition-At a Glance…
1. India Visa Processing fee collection
through Ucash
2. Cricket Tournament Ticketing
through Ucash
IFIC Bank Limited had their
press advertisements keeping
bangla menu as their key
strength point for MFS.
FSIBL FirstPay SureCash launched
Dhaka WASA bill payment service. MD of
Dhaka WASA Engineer Taqsem A Khan
and MD of First Security Islami Bank
launched the service.
IFIC Bank Limited has recently signed a mobile
banking agreement with Independent Television
Limited (ITV) at the latter's office in the city for
disbursing the ITV district correspondents
salary through the bank
Jessore Municipality citizens can pay Water
Bill & other Taxes through Mobile Banking
Services of First Security Islami Bank
Limited
Even Some operators are trying to get all out to grab the market share …

Agent locations having no exclusivity..

Why bKash is in a Lead Position in the Industry?

- bKash is a specialized organization to deliver MFS.

- bKash has done an extraordinary work in familiarizing mobile banking in Bangladesh.

It has done so awesome that bKash has become the synonym for mobile money
transaction.

- The distinguishing difference between bKash and other MFS providers is in its focus.
It is a company that does only MFS and is especially focused on the unbanked masses.

- bKash is doing better than its competitors because it is mandated to provide only
financial services through a dedicated workforce and cannot afford to move away from
its MFS focus.
Why bKash is in a Lead Position in the Industry?(Cont..)

- A total 15,000 agents all over the country are trained as financial agents of bKash.

- A shared vision for scale among a diverse investor group.

- An enabling and flexible regulatory environment.

- bKash has already established it’s transparency. ensured Safe and secure
transaction, easily available agent network.
 Better the Competition Better is the Performance

 As we speak, some operators are spending more than bKash in media and have
more variety in services, paving the way for a stronger industry.

 We welcome all such initiatives from all the industry players and believe together
we will be able to achieve the best of financial inclusion.
Thank You