BKash looks ahead to growth with app launch - Share market analysis of dhaka stock exchange, Bangladesh

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16 May, 2018 10:06 AM Source: New Age

BKash, a subsidiary company of BRAC Bank, is expecting business growth through its service bKash app that has recently been launched in the country to ease money transfer and payment.
Bkash chief executive officer Kamal Quadir at an interactive discussion with reporters in Dhaka on Tuesday said, ‘The app was published on Apple Store and Google Play Store on April 25. Since then, around 14 lakh customers out of its three crore accountholders downloaded the app to get its services.’
The company arranged the event to discuss the app’s features, its use and facilities so that its customers can easily execute them to get utmost services in Bangladesh through smart phones, he said.
Furthermore, bKash has launched QR code system in 30,000 shops and has 1.8 lakh agents for providing payment services through the app that is expected to expand further, he said.
When asked about the impact of strategic deal with Alibaba on the bKash business, Kamal said that Alibaba was a giant company with vast business experience and technological skills that would obviously support their business strategy.
Alipay, a concern of China’s e-commerce and tech giant Alibaba Group, bought 20 per cent stakes in bKash on April 26.
Bkash chief marketing officer Mir Nowbut Ali said, ‘Except collecting remittance, all other services that the customers use through bKash USSD channel are available in the bKash app. Collecting remittance will be available in future.’
BKash accountholders can send money, buy airtime, conduct cash out, make payment and request money through the bKash app, he said.
He said that the company would cut service charges when its business expanded.
He also said that the app was highly secured and no one would be able to log in to a bKash account without bKash PIN number.
For the financial security, the customer will be atomically logged out of the app after specific period of inactivity.
The company is also working to start e-commerce to facilitate the payment in online shopping and paying the bills of government services, said Nowbut. 

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