- Cross-border payments facilitated by digital wallet
- Available to 200,000 locations in 120 countries
Leading remittance provider Transfast has announced a partnership with BRAC Bank and bKash, the largest mobile financial platform in Bangladesh. The deal will allow users to make international money transfers using bKash Mobile Wallet.
Bangladeshi expats living across the globe can now send money abroad to bKash users from any of Transfast's 200,000 locations in over 120 countries around the world. Money can be received as cash at any of Bangladesh's brick-and-mortar bKash payout locations, or added to bKash mobile wallet accounts for person-to-person money transfers, mobile airtime top-ups, bill pay, and instore shopping at participating retailers.
Transfast is the first funds transfer company to offer bKash services in Bangladesh.
According to bKash CEO Kamal Quadir, the partnership between Transfast and BRAC Bank will offer faster, more convenient remittances for Bangladeshis around the world.
"This will bring tremendous value to Bangladeshis living at home and abroad," said Quadir.
Transfast CEO Samish Kumar agrees, noting that the rise of mobile technology in countries like Bangladesh means that consumers can benefit from greater access to financial services, even if they live far from major cities or metropolitan areas.
"Partnerships with companies such as BRAC Bank and bKash are crucial to supporting financial inclusion efforts in the South Asia region and worldwide. The choice, flexibility, and convenience of this new bKash service will help to expand financial inclusion to some of the most remote parts of Bangladesh," said Kumar.
The bKash mobile service was initially launched in 2011 as a joint venture between several financial and philanthropic institutions, including BRAC Bank, International Finance Corporation of World Bank Group, the US-based Money in Motion, and the Bill and Melinda Gates Foundation. The platform offers a complete range of services to support mobile financial transactions to Bangladeshis.
