Western Union money transfers now accessible through bKash agent points30 March 2023
Business Desk :
bKash customers in Bangladesh can now redirect their cash-intended Western Union money transfers into their bKash wallets conveniently, with the assistance of over 330,000 bKash agent points.
To facilitate this service, Western Union, a global leader in cross-border, cross-currency money movement and payments, NCC Bank, one of the leading banks in the country, and bKash, the country's leading mobile financial services provider, have jointly launched the 'Agent Assisted Model (PIN base Remittance)' service, said a press release.
With this service, Western Union international money transfer receivers in Bangladesh with a valid national ID, active bKash account and Money Transfer Control Number (MTCN), can route their money transfers into their bKash wallets with the assistance of any bKash agent point available in their locality. NCC Bank also acts as a settlement partner for this service.
bKash's network of 330,000 agents, popularly known as 'human ATM's', across the country ensures uninterrupted services for customers. This expanded collaboration with Western Union's will offer more convenience to remittance receivers in the country and encourage money transfers through formal channels.
On the occasion of this new service launching, bKash is offering customers with BDT 100 instant cashback on receiving BDT 10,000 Western Union money transfers, into their bKash account. Customers can avail the cashback offer once a month until April 30, 2023.
Gaurav Yadava, Country Director - India & South Asia of Western Union said, "Meeting the needs of customers in a fast-changing world, is key. This strategic alliance enables the two companies deeply invested in innovation, to continuously advance their respective platforms to be at the cutting edge of money flows. Together we are also advancing innovative financial inclusion, offering another way for our customers to receive money directly from their loved ones, giving them peace of mind."
Kamal Quadir, Chief Executive Officer of bKash said, "Bangladesh is one of the largest remittance receiving country in the world. bKash has been at the forefront of easing the process of receiving hard earned remittance sent by expatriates. This partnership with Western Union will ensure efficiency in the process of sending remittance through formal channels, as well as ensuring more convenience for both the senders and receivers".
Mohammad Mamdudur Rashid, Managing Director & CEO of NCC Bank said, "Being one of the recognized leading remittance banks in Bangladesh, NCC Bank's prime focus is to ensure convenient payment to the beneficiaries and settlement of remittance through digital channels. This service will offer customers a seamless cross border money transfer experience through formal channels. This collaborative approach will be the milestone for changing payment model and contribute to the economic development of Bangladesh. It will help drive financial inclusion by connecting the world to Bangladesh in innovative ways. NCC Bank wishes all the success for this unique initiative."