The new service providers 'Tap' and 'Way' and the old service providers 'Cash' have been charging less than others since the beginning of their operations. The biggest service provider 'Bikash' has reduced the cost of withdrawing money from a specific agent. And 'Rocket' has reduced the cost of withdrawing money from all agents.
At present, a total of 13 companies are providing mobile financial services (MFS) in the country. In November last year, the number of registered customers of these companies was 10 crore 96 lakh. However, there were 4 crore active subscribers. In that month, customers made a total transaction of Tk 6,958 crore. In other words, customers transact an average of Tk 2,275 crore daily.
Everyone is cutting costs. For this we have also reduced the cost of rocket service. As a result, we are not making any profit from the service, but we have to count the losses due to various expenses. If all MFS agents and distributors could reduce their costs, everyone would be profitable.Abul Kashem said. Shirin, Managing Director (MD), Dutch-Bangla Bank
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The way was opened to approve cash
MFS service was started in the country by the rocket of Dutch-Bangla Bank. Rocket customers have to pay 18 rupees 50 paise to withdraw money from the agent from the beginning. However, at the beginning of this month, Rocket fixed a new fee of Tk 18.60 for withdrawing money from all agents. Besides, they are taking 9 rupees per thousand to withdraw money from the booth of Dutch-Bangla Bank. And those whose salary is through rocket, 9 rupees per thousand is being taken from them. However, they are able to withdraw money from ATMs at no cost. Rocket has 2 crore 75 lakh subscribers now. The daily turnover is around Tk 502 crore.
Rocket is a service of Dutch-Bangla Bank. The bank's managing director (MD) Abul Kashem. Shirin said, 'Everyone is reducing costs. For this we have also reduced the cost of rocket service. As a result, we are not making any profit from the service, but we have to count the losses due to various expenses. If the cost of agents and distributors could be reduced by combining all MFS, everyone would be profitable. He also mentioned that it is possible to reduce the cost to Tk 10 for the customers.
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40,000 bKash subscribers are saving on mobile phones
Bikash, the largest MFS company in the country, has been bringing in Rs 18.50 paise from the beginning to withdraw Rs 1,000. On the occasion of the 10th anniversary of the journey, in October last year, bKash fixed the fee at Rs. Apart from this, bKash is also charging the same cost for withdrawing Rs 1,000 from ATMs of eight banks including Jamuna.
Development officials say customers withdraw 90 percent of their money from a specific agent next to their home or workplace. And their maximum withdrawal amount is 20 thousand rupees on average. For this the customers have been given this facility. BKash now has 5 crore 75 lakh subscribers, with an average daily turnover of around Rs 1,500 crore.
This facility has been given to the customers on the occasion of 10 years of development. This will have some effect on development revenue but it will be adjusted from other services. New services are constantly being added to the development. Development is becoming the medium of all transactions in human lifeShamsuddin Haider, Head of Communications, Development
Shamsuddin Haider, Head of Communication, bKash, said, “Customers have been given this facility on the occasion of 10 years of bKash. This will have some effect on development revenue but it will be adjusted from other services. New services are constantly being added to the development. Development is becoming the medium of all transactions in human life.
Rocket and development officials say that although the cost has been reduced, the commission of agents and distributors has not been reduced. Due to the reduction in tariffs, the income and expenditure of rocket and development agents and distributors have become equal. The service is going at a loss to pay salaries, campaigns, rent. However, although the cost of this service decreases and the cost increases, it is being adjusted from other services. Everyone would be better off reducing the cost of agents and distributors.
Meanwhile, since the commencement of the cash service of the postal department, it has been costing 14 taka 94 paisa per thousand to withdraw money from all the agents. However, if you take it through apps, the cost is 11 rupees 49 paise.
Meanwhile, the newly arrived tap is taking 14 rupees 60 paise to withdraw money through apps from the beginning. And UCB is charging Tk 14 for the service agent and Tk 6 for withdrawing money from UCB ATM. One Bank's service is charging Tk 18 per thousand at OK Wallet Agent and Tk 5 at its own ATM.
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