Uber and bKash on Monday announced a partnership which will allow Uber riders to pay for their trips using bKash, the largest mobile financial service provider in Bangladesh.
The long-awaited partnership aims to enhance rider experience and safety by making the payment process contactless, convenient and secure as riders resume travel after a lengthy lockdown, said a press release.
The partnership will give millions of Bangladeshi riders the convenience of seamlessly taking Uber rides, without the inconvenience of carrying cash or worrying about exact change.
bKash’s digital payment option will take care of all transactions without any manual intervention once the bKash wallet is added as a payment method on the Uber app. This method will help users avoid transaction lag in case of poor network, gateway timeouts, or insufficient balance.
Serving approximately 45 million local users, bKash has been used daily to transfer money, pay for utilities and for other services. With the new partnership, bKash users will have instant access to Uber, and safe and reliable rides at the touch of a button.
The partnership with bKash is a first of its kind for Uber in Bangladesh and is a big step on its journey to increase digitized payments on its platform. It also demonstrates Uber’s commitment to strengthen the digital financial ecosystem and help accelerate ‘Digital Bangladesh’ - the government’s vision of a smart, connected nation.
Nandini Maheshwari, Director, Business Development, Uber, APAC, said, “We applaud the impact fintech leaders like bKash are having in Bangladesh and are pleased to partner with them to expand payment options for our riders. During an ongoing global pandemic and especially as cities start moving again, we understand the importance of safer, cashless transactions to help maintain physical distancing. With this partnership we hope to promote more digital transactions, reduce cash dependency on the platform and improve the country’s digital financial infrastructure.”
Mizanur Rashid, Chief Commercial Officer, bKash, said, “Facilitated through our partnership with Alipay, the automatic payment options provided to Uber rides by bKash will bring more relief to customers during this pandemic. The experience of this new digital payment facility will further drive the adoption of uninterrupted ride-sharing services. The payment service for world leading ride-sharing company Uber will enhance the existing network of diversified digital payment solutions and services bKash provides to local consumers.”
As the first ride-sharing company to commence operations in Bangladesh in 2016, this partnership shows Uber’s unwavering commitment to serving riders, drivers and cities in the country. With operations across Dhaka, Chattogram, Sylhet and Cox's Bazar, Bangladesh remains an important market for Uber.
To make payment through bKash, a person needs to select the "Wallet" or "Payment" option in the touch menu, tap "Add Payment Method", tap "bKash" and finally add your account information. The client will receive a notification for successfully linking bKash to Uber.
If bKash is not included in anyone’s payment method options, it is essential to reinstall the app on one’s device. However, after adding bKash, subsequent Uber trips will be automatically paid from the bKash account once the trip is completed.
The opportunity of instant money transfer service from banks’ app and internet banking to bKash account has been increased with seven new banks.
The facility of transferring money to bKash from 18 top commercial banks in the country now enables 45 million bKash users to enjoy easier and more convenient transactions.
This service has brought great relief during Covid-19 situation as customers can Add Money to the bKash account of their own or loved ones as per their need from any place 24/7, said a press release on Saturday.
Community Bank Bangladesh, Modhumoti Bank, NRB Bank, Southeast Bank, First Security Islami Bank, Social Islami Bank and Union Bank - these seven new banks have recently been added to the Add Money service of bKash.
Prior to these, BRAC Bank, Bank Asia, City Bank, Dhaka Bank, Eastern Bank, Jamuna Bank, Midland Bank, Mutual Trust Bank, South Bengal Agriculture and Commerce Bank, NRB Commercial Bank and Standard Chartered Bank were already included in the Add Money service of bKash.
However, there is also the facility to bring money to bKash account from all Visa and MasterCard, issued by banks in Bangladesh.
Besides Cash Out from agent points, services like Send Money, Mobile Recharge, paying utility bills, payment of offline or online product purchases, donation to any organization, paying school/college tuition fees, payment of various online registration fees and many other facilities have made the customers’ financial transactions secure, easy and hassle-free.
Furthermore, customers are now more empowered as they can use their money at any time. bKash has truly become customer's 'digital wallet'.
Moreover, customers can now pay their Visa and Amex credit card bills from home through bKash. Since time is an important factor in paying credit card bills, customers feel more comfortable to use credit card bill payment service of bKash.
Thus, they are avoiding to go to the banks and maintaining social distance during Covid-19.
Customers can safely add money to their bKash account without any hassle in a few simple steps.
They need to tap on ‘Add Money’ after selecting ‘Bank to bKash’ or ‘Card to bKash’ option from the main menu of bKash app's home screen. In case of Bank to bKash service, if the customer clicks on the logo of the designated bank, he/she is redirected to the log-in page of that bank.
Customer's cash-in limit is applicable on the Add Money service. That means, a customer can bring a maximum amount of Tk 30,000 in 5 times in a day and a maximum amount of Tk 2 lakh in 25 times in a month by combining cash-in and Add Money.
Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion,
International Finance Corporation, Bill and Melinda Gates Foundation and Ant Group, operates as a payment service provider offering broad range of digital financial services under the regulation of Bangladesh Bank.
Prime Bank has earned net profit of Tk 61.88 crore on solo basis, which was Tk 99.27 crore in the corresponding period of last year.
The bank has also reported operating profit of Tk 248.16 crore in the first six months of the running year on solo basis, which was Tk 332.47 crore in the same period of last year.
Prime Bank has announced its half yearly financial results of 2020 on August 3 virtually.
The private commercial bank, listed with both Dhaka and Chattogram Stock Exchanges, organized its Earnings Disclosure event which was broadcast live on the bank’s Facebook Page, according to a press release issued today (Friday).
The bank’s Managing Director and CEO Rahel Ahmed and senior management officials presented the half yearly financial results of 2020 and answered questions from the local and foreign investment analysts, capital market experts, financial institution partners and journalists.
The press release said that Bank's operating profit and net profit after tax in H1 2020 witnessed a drop by 25 percent and 38 percent respectively compared to same period of 2019 mainly due to impact of COVID-19 pandemic, a host of COVID-19 regulatory waivers on EMI, interest and fees and interest rate capping.
The bank reported earning per share (EPS) of Tk 0.55 for the half year ended on June 30, 2020 on solo basis which was Tk 0.88 in the corresponding period of 2019.
Its net asset value (NAV) per share on solo basis was Tk 24.21 as on June 30, 2020 which was Tk 22.75 in the same period a year ago.
Commenting on the occasion, Managing Director and CEO Rahel Ahmed, said: “During this critical time, we are more focused on keeping our employees and customers safe, and customers served with essential financial services with safety and convenience to what matters most in their lives. We were one of first responders to chalk out fightback initiative as early as January 2020 when COVID-19 started unfolding and quickly adapted our operations to continue delivering critical services to meet the evolving needs of our customers living to the bank’s long history of standing by the customers in challenging times.”
The bank’s DMD and CFO Mohammad Habibur Rahman Chowdhury; DMD and CRO Md. Touhidul Alam Khan; DMD and CBO Faisal Rahman; Head of Consumer Banking ANM Mahfuz; Head of MSME Banking Syed M. Omar Tayub; Head of TB, SFD and ID Shams Abdullah Muhaimin; Head of Treasury SK. Matiur Rahman, Chief Operating Officer Abdul Halim; Head of ICC Mohammad Jashim Uddin and Head of Brand and Communications Nazmul Karim Chowdhury joined the virtual event.
David Hagerbro has been appointed as the head of Ericsson Malaysia, Sri Lanka and Bangladesh units, and global customer unit of Axiata.
Earlier David was the Head of Strategy, Technology, and Government and Industry Relations for Southeast Asia, Oceania, and India.
Nunzio Mirtillo, Head of Ericsson Southeast Asia, Oceania, and India, said “The markets of Malaysia, Sri Lanka, and Bangladesh are key markets for us at Ericsson. David has strong track record of leading and developing Ericsson’s business across this region. I am confident he will deliver on Ericsson’s commitments in these markets.”
David Hagerbro has over 20 years of experience in leadership and technology roles and he joined Ericsson in 2008, said a press release.
Commenting on his appointment, David said, “I look forward to working closely with our customers in the markets, bringing them the latest solutions and technology to support their business success.”
Ericsson’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams.
Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world.
Mohammad Hanif Chowdhury has been re-elected as the chairman of the Board of Directors of Republic Insurance Company Limited in its 125th Meeting of Board of Directors.
Besides, SM Shafiul Hoque was elected as Vice Chairman, said a press release.
Chowdhury, a renowned businessman, started his business career in 1980 in the garments sector and later explored his business in Textile sector.
Presently, he is the Group Chairman of Unitex Group and Chairman of Unitex Spinning Ltd (Unit-1 & Unit-2), Unitex Composite Mills Ltd, HS Composite Textile Ltd, Unitex LPG Ltd and Unitex Synthetic Ltd. He is also the founder of Al-Madrasatul Islamia Jamiatul Ulom Bhingrol.
SM Shafiul Hoque is a Sponsor Director of Republic Insurance Company Limited since its establishment. Shafiul is also the Chairman of Bangladesh Garments Manufacturers and Exporters Association BGMEA airport cell Chattagram.
He has served as the Vice President of Chattagram Chamber of Commerce and Industries (CCCI) for the term 2009-2010.
He is the Vice Chairman for Projonmo Chattagram regional board and active member of BSCIC Shilpo Malik Samity Kalurghat in Chattagram.