Press release: TRANSFAST Partners With Bangladesh BRAC Bank and bKash Mobile Wallet for Global Money Transfers

Friday, January 26, 2018

TRANSFAST, a leading provider of remittance solutions, has partnered with BRAC Bank and bKashBangladesh’s largest mobile financial service provider, to enable global money transfers via bKash Mobile Wallet.

Bangladeshi expatriates around the world can now send cross-border remittances to bKash Mobile Wallet users at any of TRANSFAST’S 200,000 payout locations in more than 120 countries. The funds can be either cashed out via bKash agent locations in Bangladesh, or can be utilized to make person to person fund transfers, top-up mobile airtime, pay bills, and shop in-store. TRANSFAST is the first money transfer company to partner with bKash to provide this service in Bangladesh.

Kamal Quadir, Chief Executive Officer, bKash says, “We are excited to launch the new remittance service from TRANSFAST through the assistance of BRAC Bank, allowing people in Bangladesh to receive money into their bKash accounts from their friends and families abroad. This will bring tremendous value to Bangladeshis living at home and abroad.”

“The widespread adoption of mobile phones in emerging markets such as Bangladesh presents a great opportunity to enable mass adoption of financial services and facilitate financial inclusion,” says Samish Kumar, CEO, TRANSFAST. “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.”

Launched in 2011, bKash is a joint venture of BRAC Bank, US-based Money in Motion, International Finance Corporation of World Bank Group and Bill and Melinda Gates Foundation, offering complete mobile financial services to Bangladeshis.

Photo courtesy of Conor Ashleigh.

Source: Press release (link opens in a new window)

digital payments, fintech, mobile finance, remittances