Local Case

MGT - 489
Sec: 07

Submitted To
S.S.M Sadrul Huda (SSH2)
Associate Professor
Dept. of Management

Submitted By
Name ID
Md Amir Khan 1812378030
Sultana Arafa 1520991030
Tanvir Islam 1711040630
Lam-Yea 1821586630
Arifin Sikder 1812607030
A B M Atik Shihab Saad 1821110030
 Introduction
Money transaction is one of the important parts of our daily life. Money transaction by
mobile is a very creative way. This service is called a mobile banking service. Mobile banking
services make transactions easier and more comfortable. Bkash LTD is one of the leading
mobile banking services in Bangladesh. BKash is a mobile money banking system in
Bangladesh that operates as a subsidiary of BRAC Bank, a local bank, and is regulated by the
Bangladesh Central Bank. Kamal Qadir and Iqbal Quadir established Bkash in 2010 under the
joint venture of Brac bank and Money in Motion LLC. One of the World bank group members,
the International Finance Corporation, became an equity member in April 2013. Bill and
Melinda gates foundation and Ant Financial, affiliated with Ali baba group, became investors
in March 2014 and April 2018. The ultimate goal of bKash is to provide Bangladeshis with
access to a greater range of financial services. About more than half of the population of
Bangladesh lives in the rural area. They came to urban areas to earn their livelihood. They face
many difficulties sending money to their families. Bkash is providing the service of sending
money very easily and comfortably. Bkash is a mobile banking system. People can send money
anywhere by just using a mobile. This mobile banking service has reduced the rush in the bank.
Bkash can be used in any mobile. Bkash has recently launched its app. Now they are moving
very faster, and it is very easy sending money through the app. The Bkash app made the process
of opening an account very easy. People can now open an account within 2 minutes by the app.
Currently, bKash has a network of over 200,000 agents throughout Bangladesh's urban and
rural areas, with over 50 million verified accounts. Besides sending money, Bkash also
provides many financial services. Customer can recharge their phones easily by Bkash.
Standing in a long queue in a bank is a traditional way of paying the utility bill. Now we can
pay utility bills easily by using the Bkash app. Bkash has made our life cashless. Our financial
transaction has become secure and hassle-free. We can also purchase online tickets books
hotels through Bkash. During the pandemic situation, Bkash has come up with a creative idea
where 40 universities of Bangladesh can pay their tuition fees through Bkash. In 2017, bKash
was rated as the 23rd firm on Fortune Magazine's annual list of the top 50 corporations to make
improvements based on social problems. In a customer poll conducted by the Bangladesh
Brand Forum, bKash was named the Best Brand of Bangladesh for the second time (2019 and
2020). Bkash has also been named the No. 1 Mobile Financial Services Brand in the MFS
category for the fourth time in a row.
 Offers of bKash During Pandemic

During the COVID-19 Pandemic, the whole world came to a standstill. The big
corporations were at stake, and the small and medium businesses were shutting down. People
were unable to go to physical shops. Rather than seeing this situation as a threat, bKash took
this situation as an opportunity to
grow their business. They bring
out innovative ideas which will
ease up people's life and also
boost their business.

During the Pandemic, bKash

introduced a new game in their
application called 'BIRD GAME' where their customers can play the game in two different
modes. They can play the Practice mode anytime they want, but in the Championship mode,
bKash throws different events. On released an event from 15th to 31st October, where the
customers can play the Championship mode win BDT 200 daily. Every day bKash gave BDT
200 cashback to the top 500 players.

bKash included the facility for paying Titas Gas bill through their application, which will help
to change the traditional way of paying gas bills. Lines with or without meters can both use
this facility.

Nowadays, individuals don't need to go actually to the bus stop and train station for ticket and
hotel book since now bKash has made travel more convenient than before. BKash clients can
purchase air tickets and book rooms at numerous hotels through the bKash application through
the "Go Zayan". Additionally, Bkash collaborated with airlines so that their clients can
purchase domestic and international Air tickets.

Bkash client can pay their insurance installment of the main 28 organizations of the nation all
day, every day with practically no extra expense, and they likewise can take different term
health and life insurance from the bkash application with various charges according to their
likings but starting from Rs. 150 per annum.
 BKash released 'AML360' on October 5, 2020, which stands for "Anti Money
Laundering." It is a technology that monitors real-time transactions of channel partners such as
agents, distributors, merchants, and aggregators in order to avoid money laundering. This
transaction method is more transparent, secure, and risk-free.

Nagad is one of bKash's

competitors. For every 1000 BDT
transaction, Nagad charges 9.99
TK. As a result, bKash was
forced to lower its cash-out fee.
bKash has cut its "cash-out" fee
as of October 1, 2021, in order to
make consumer transactions
cheaper. Customers can now withdraw up to Tk 25,000 per month through a preferred agent
(Priyo Agent) for Tk 14.90 per Tk 1,000. Customers will not be charged any further fees
because this includes all expenditures, including VAT. The lower pay-out fee is available to
any of bKash's 55 million customers.

From September 2021, bKash users can use their bKash accounts to access IDLC Finance's
digital savings service from anywhere in the country. They can begin IDLC's monthly savings
schemes in as little as two minutes, with a variety of terms and amounts to choose from.
According to a press release, 90,000 clients have benefited from savings schemes totaling Tk14
crore since the service's debut. This savings service has already garnered appeal among clients,
with customers being able to
start savings accounts,
contribute monthly
installments, and even receive
the complete amount upon
maturity using the bKash app.
Customers can withdraw their
funds through the bKash app at
any time after three months of joining the scheme if they like. On the maturity of savings
programs, they can also pay out the entire amount, including interest, without incurring any
fees. Saving money after paying monthly bills is a time-honored technique for securing one's
future. Through technology, IDLC and bKash have made this technique more convenient and
simple. The ability to save a tiny bit of money without any bother will assist everyone in saving
money. This will benefit the economy while also raising people's living standards." Users can
take advantage of IDLC Finance's savings schemes in monthly installments of Tk500, Tk1,000,
Tk2,000, and Tk3,000 for a minimum of two years and a maximum of four years. The savings
program is available to 58.5 million bKash customers via the bKash app. This easy digital
savings solution provided by the bKash app has sparked enthusiasm among the youths in
particular.

bKash launched a new project in which it paid a 1% cash incentive to 50 million consumers
who received remittances from overseas through banking channels. In addition to the 1% cash
incentive,the government
also provided a 2%
bonus. This bonus offer
was available to every
client who got BDT
10,000 or more than
BDT 10,000. Customers
might receive this
incentive twice every month and four times throughout the campaign. This deal was valid until
January 31, 2021.

bKash is one of the most convenient ways to pay for online purchases. As a result, bKash has
become an integral part of our everyday lives because it can be used to pay practically any form
of charge in Bangladesh. Customers are their number one priority, and creative ideas are the
key to their market success.

May 30, 2021

Customers who pay with bKash can get great deals on health care services from Square
Hospital, Asgar Ali Hospital, and Popular Diagnostic Center. Square Hospital's routine health
check-up package is available for BDT 1750 instead of BDT 2240 for bKash users. Instead of
BDT 8490, they can get the premium health check-up package for BDT 6750. During the
campaign period, any consumer can take advantage of the offers as many times as they wish.
Customers can also get savings at Asgar Ali Hospital when they pay for COVID-19 home
sample collection and a basic health check-up package. COVID-19 home sample collection for
a minimum of two members of the same family is available for BDT 3800 per person. In
addition, a basic health check-up package for eight tests can be purchased for only BDT 5200.

April 18, 2021

In light of the current COVID scenario, bKash is offering a 1% cash bonus on top of the
government's 2% remittance incentive to provide expats with additional convenience when
transferring money to their loved ones through various banking channels.Currently, expats can
send money to 52 million bKash accounts in the nation through 10 commercial banks and more
than 50 money transfer companies (MTO). Expatriates from 93 countries around the world
send remittances through online or wallet transfer services. Expatriates sent remittances
totaling 138 million USD in 2020 as a result of these facilities.

July 19, 2021

From July 16 to August 2, 2020, bKash is offering up to 20% cashback on bKash payments in
the run-up to Eid-ul-Azha. During the campaign, customers can get up to Taka 300 in cash. All
of these deals are available via the bKash app, the USSD code *247#, and the payment gateway
(PGW). Cashback is offered on apparel, footwear, accessories, restaurants, electronics, e-
commerce, food delivery, and superstores paid online or offline as part of this promotion.

bKash can let consumers buy tickets safely with contactless payment during the Covid-19
Pandemic. Users of the bKash app may simply purchase bus, train, launch, and plane tickets.
For bus, rail, launch, and plane tickets, users are eligible for a 10% instant cashback with a
maximum limit of Taka 100. Cashback for bus, launch and air tickets will be disbursed
immediately, while cashback for train tickets will be provided to the user's bKash account the
next working day. Customers can take advantage of the train ticket rebate offer once per day
and twice every campaign.

June 29, 2021

Customers can now get up to a 50% discount on bKash payments for health check-ups and
medical consultations while staying at home during the Pandemic at three healthcare service
providers. Customers can also earn up to 50% off a health check-up at 'Amar Lab,' 20% off at
'Dhaka Doctor,' and 5% instant payback on payments of BDT 300-1500 at 'Pulse Healthcare
Services' by using bKash, according to a press release.
 Conclusion

bKash is almost using the pandemic situation as their golden opportunity. They are growing
their business by simplifying their customer's life with new ideas and innovative decisions.
Which helped them to not only cope with this pandemic situation but also grow.

1. What would be your suggested changes that the bKash application needs to include in
their online purchasing? (like Amazon and Flipkart)

2. Give some valid and logical opinions so that bKash can deduct their transactional rates
like Nagad.

3. Do you think bKash should improve its customer service system?

4. Do you think that bKash's transaction history section needs to be updated? If yes, then
what should they include?