Dhaka, Bangladesh (BBN) – Meghna Bank Limited is going to introduce chip-based card for mobile financial services for the first time in Bangladesh on Monday, the bank’s top executive said.
“We’re set to launch new mobile financial services in Bangladesh today (Monday) evening aiming to bring more unbanked people into the banking network,” Mohammed Nurul Amin, Managing Director and Chief Executive Officer (CEO) of the fourth-generation bank, told BBN in Dhaka.
The senior banker also said: “We’ll initially offer person-to-person (P2P) payments among our clients across the country.”
Such mobile financial services-MEGHNA BANK TAP n PAY-will be more secure and cheaper, according to the bank officials.
Mobility iTapPay (Bangladesh) Limited, a joint venture of MOBILITYONE of Malaysia, is providing technical support to run the latest mobile financial services in Bangladesh.
The goal of this project is to launch different mobile financial services, including disbursement of inward remittance, person to business (P2B) payments, business to person (B2P) payments and person to government (P2G) payments and government to person (G2P) payments, which will be offered subject to approval from the Bangladesh Bank (BB) and all other relevant regulatory bodies.
These services will allow use of mobile phone technology to send and receive monetary value electronically through their own mobile handsets or NFC (Near Field Communications) Tag or Tap Card or through authorised outlets across the country, they added.
Currently, Meghna Bank is running its business with 37 branches across the country.