WorldRemit, a UK based Fintech in the digital money transfer sector, announced on Tuesday it has formed a partnership with BRAC Bank and bKash for banking and mobile money transfers to Bangladesh. WorldRemit reported that the partnership will considerably expand its footprint in Bangladesh and supports its plan to serve 10 million customers connected to emerging markets by 2020.
“International transfers to bKash mobile money wallets via WorldRemit are instant. Recipients can then transfer funds from their bKash wallets to other bKash wallets, top-up mobile airtime, and pay for bills and groceries at shops and businesses that accept bKash payments. Customers can also withdraw money as cash at bKash agent locations or store their funds in their bKash accounts.”
Using the WorldRemit app or website, the Bangladeshi diaspora living in more than 50 countries may now send money quickly and securely to:
- 1.5 million BRAC Bank accounts
- 186 BRAC Bank branches and 30 BRAC SME locations for cash collection
- Up to 30 million bKash mobile money wallets
While sharing details about the partnership, Tamer El-Emary, Chief Commercial Officer at WorldRemit, stated:
“We are delighted to be partnering with BRAC, a leading bank and household name in Bangladesh, and bKash, the largest mobile financial services provider in the country. Our partnership will support financial inclusion by enabling the unbanked Bangladeshi population to receive remittances straight into their mobile money accounts. Considerably expanding WorldRemit’s footprint in Bangladesh, the partnership will also connect us to over one million BRAC bank accounts and hundreds of cash pickup locations across the country.”
Kamal Quadir, CEO at bKash, also commented:
“In partnership with BRAC Bank, we are excited to launch international money transfers via WorldRemit. The partnership brings tremendous value to Bangladeshis at home and abroad, allowing people in Bangladesh to receive remittances into their bKash accounts 24/7, instantly.”
Selim R. F. Hussain, Managing Director and CEO at BRAC Bank Limited, added:
“Our groundbreaking new partnership with WorldRemit allows our customers to receive remittances digitally directly into their BRAC Bank accounts, as cash over the counter at BRAC branches and agent points, and into their bKash mobile wallets. It is a great example of how international partnerships can make a difference to the lives of the Bangladeshi people. This is just the beginning of our partnership and we look forward to introducing more services to increase convenience for our customers.”