Bangladesh moving towards a cashless lifestyle through bKash

Built on customer-centric principles, every feature of the bKash app is purposely designed to address real human needs – not just technological barriers. By embracing radical simplicity, the app eliminates the complexity of traditional interfaces through a personalised, intuitive design – bridging the digital divide as well as addressing literacy that often hinder access to finance. Besides, bKash is shaping a digital transaction ecosystem in the country based on collaboration and co-creation model; this environment allows millions to confidently and easily adopt a cashless lifestyle, demonstrating that financial empowerment is a universal right, not a privilege.

Launched in 2011, bKash, a joint venture of BRAC Bank, US-based Money in Motion LLC, International Finance Corporation of the World Bank Group, Gates Foundation, Ant International, and SoftBank, operates as a Mobile Financial Service (MFS) provider offering broad range of digital financial services under the regulation of the Central Bank.

Enabling Cashless Lifestyle

bKash has evolved from offering basic services like Send Money, Cash In, Cash Out, and Mobile Recharge to a comprehensive platform for essential financial services. Today, bKash’s broad user base can pay utility bills, make merchant payments, donate to charities, receive remittances, and even access savings and loans – all from one app.

• Democratising Digital Payment: With nearly a million merchants accepting QR and NFC payments, bKash app has made cashless transactions part of daily life. From small shops to big brands, its vast merchant network is driving a major behavioural shift towards cashless payments.

• Paying Bills at Ease: The bKash Pay Bill service has revolutionised utility bill payments by eliminating dependency on paper bills and physical queues.  Users can seamlessly pay for necessary services including- electricity, water, gas, internet, TV, etc. without the fear of missing billing date. Besides, the service also simplified the billing management as well as digitised collection process for the service providers, saving their time and cost, thus, enhancing their revenue.

• Connectivity with Banks and NBFIs: To enhance the seamless flow of funds to bKash account, bKash app allows customers to add money to their bKash account 24/7 directly from bank account or card. Besides, bKash facilitates fund transfers from accounts of selected banks as well, offering customers a unique interoperable experience by putting an end to physical branch visits. Many users, especially those out of formal banking coverage, now has got the access to finance right from the bKash app.

• Developing Ecosystem for Digital Transactions: By leveraging disruptive technology, bKash has developed a comprehensive digital transaction ecosystem through collaboration and co-creation with various public and private entities. This way, bKash demonstrates how collaborations can make way to utilise each other’s strength to design customised products, bridge urban-rural divide to reach broader customer base.

• Simplifying Transactions for Businesses: Many businesses now prefer digital payments to simplify transactions for customers as well as bookkeeping. Digital record keeping simplifies business transactions for many by saving valuable time as well as helping avoid the hassle of storing or transporting paper money, counting notes, dealing with change, torn down and fake notes. Besides, bKash merchants can also transfer their money to linked bank accounts from the app, enjoying the convenience of cashless business operation.

Designing Services with Customer Centricity

bKash exemplifies customer centricity by deeply addressing user context – especially the unbanked and underbanked communities as well as people with low financial and digital literacy. The design of bKash app emphasises simplicity and accessibility, prioritising ease of use over complex jargons as every feature is developed through continuous user feedback.

• DPS with Banks and NBFI: Users can open weekly and monthly DPS accounts with four commercial banks and a NBFI directly from the bKash app, starting from Tk 250 to Tk 20,000 for a tenure of 6 months to 4 years. The convenience to open DPS with multiple organisations from a single platform led to opening of over 5.0 million DPS accounts by the customers in only four years, proving that users, even those excluded from formal banking, prefer hassle-free digital services at their fingertip.

• Managing Emergencies with Collateral-free Loan: Meanwhile, more than 10 million collateral-free instant digital loans were disbursed from a commercial bank through the bKash app in just three years. This opportunity has become a powerful tool for those outside or with limited banking access to borrow from formal channel. Eligible customers can access digital loans ranging from Tk 500 to Tk 50,000 through the bKash app, especially during emergencies or shocks. With the loan, customers manage medical expenses, raise business capital, start new ventures, travel, etc.

• Receiving International Remittances Anytime: Bangladeshi expatriates from over 140 countries now can send remittances instantly to their loved ones’ bKash accounts. Their hard-earned remittances provide crucial financial security to their families as well as strengthens foreign exchange reserve. The recipients of remittance can use the fund for diverse digital transactions right from the bKash app.

• Donating for Humanitarian Causes: In a bid to make charity more accessible and efficient, bKash has revolutionised the way people contribute to social causes by streamlining donations to a wide range of charitable and voluntary organisations. Currently, bKash users can donate to about 40 organisations directly from the app, ensuring convenience, transparency, and security.

• Integration of Microfinance: Over 32 million clients of 64 MFIs- majority of them are rural women- can now repay loans and savings deposit through the bKash app. The service eliminates the need for commute to MFI branches, allowing people to utilise the time for other productive areas.

Simplicity for Behavioural Change

bKash’s success lies in its ability to make complex financial processes simple for people of all ages as well as their financial literacy level. The robustness of the app, number of products and services, security features, etc. provide reliability and confidence to the customers in using bKash app.

• Personalised App Interface: Recently, user interface of bKash app has been made more efficient based on customers’ usage patterns and preferences. The addition of the ‘My bKash’ section, which works intuitively for each customer, now provides a quick snapshot of their financial transactions that assists better financial management. Even the transaction history has been presented in a much simpler way in this redesigned layout from which anyone can analyse their transaction pattern.

• Instant Proof of Transactions: Digital receipts offer a convenient way to prove transactions like paying utility bills, sending money, or shopping online. Instead of collecting physical receipts or taking screenshots, users can now share or store digitally generated receipts through messaging platforms as proof of transactions.

• Routine Transactions with Auto Pay: To avoid forgetfulness, any customer now can set auto pay in bKash app for send money, mobile recharge, electricity bill payment etc. to simplify routine transactions.

• Accessing Statements Right in the App: Without visiting a service point, any customer now can simply request an account statement right from the bKash app, which is generated almost immediately, helping customers accessing different types of banking and government services. Besides, users can also access statement for remittance and pay bill services.

• Safe-guarding Account: Now customers don’t need to worry if they forget bKash PIN or simply want to change old one. The ‘virtual assistant’ in bKash menu section can assist users to reset PIN of their own, removing the hassle to go to a customer care.

• Security & Trust: Every transaction is encrypted and verified, ensuring peace of mind for users who are new to digital finance. These features reflect bKash’s commitment to empowering users with convenience, choice, and trust, thus, driving the country’s cashless journey.

Addressing Literacy Gaps

Financial and digital literacy remains a challenge, especially in rural areas and impoverished urban settlements. bKash tackles this by designing intuitive interfaces and automating processes that were once daunting.

• Bridging Urban-rural divide: Keeping financial inclusion in its DNA, bKash has been ensuring access to finance for all, especially unbanked and underbanked populations in rural and hard-to-reach areas where traditional banking is either absent or limited. Due to bKash’s country-wide reach, users from anyplace can access complex banking services without even setting foot in a bank branch. This way bKash bridges the gap between urban and rural populations in accessing finance at their convenience.

• Visual Guidance & Local Language Support: The app uses clear icons, step-by-step guidance, and Bangla language options to make navigation easy for first-time users as well the ones with low digital and financial literacy. By simplifying financial interactions, bKash ensures that technology serves everyone, regardless of literacy level or location.

Beyond a Wallet: A Catalyst for Inclusion

Over the years, the bKash app has evolved far beyond a simple mobile wallet, emerging as a transformative platform for personal finance management for millions across the country. By integrating wide range of essential financial services into a single, intuitive interface, the robust bKash app grants millions of users full control over their money. This holistic approach enables customers to make informed financial decisions, track expenses, and plan for the future with confidence. Moreover, it has driven a significant behavioural shift, fostering trust in digital transactions and accelerating the adoption of cashless practices. As a result, bKash has been playing a pivotal role in strengthening Bangladesh’s digital payment ecosystem and shaping a more financially inclusive society. This way bKash app becomes a reliable and trusted lifestyle companion for millions by guiding them to unlock full financial freedom.

Media Contact

bKash Limited

Shamsuddin Haider Dalim

EVP, HoD, Corporate Communications, Communications, bKash

Email: corp.communications@bkash.com

Website: https://www.bkash.com/

SOURCE: bKash