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A new mobile banking service starts journey in BD market

Published : Wednesday, 22 March, 2017 at 12:00 AM Count : 505
Business Correspondent

A new mobile banking service has added to the country's fast growing mobile banking industry with brand name Tap'N Pay of Meghna Bank to facilitate payment services to multiple classes of customers with payment service through multiple channels.
Finance Minister AMA Muhith unveiled this new entity in the city last night with his firm promise to continue support to the mobile banking sector, which he termed as revolution in the country's financial markets. "The government will continue its support to the growth of this potential sector", he said.
Tap'N Pay is a joint initiative of Meghna Bank, a third generation private commercial bank and Mibility I TapPay Bangladesh, a Japan-Malaysia-Bangladesh joint venture.   
It is a pre paid account service where mobile numbers will act as account numbers and customers can transact money with an NFC card through a Point of Sales machines.
"A financial revolution is in progress everywhere in Bangladesh. The revolution is mobile banking - which has brought revolutionary changes in Bangladesh and attracted millions of rural people within a span of time. No other services could make such success", he said.
The minister said Bangladesh Bank has so far given license to 28 banks to open MFS, but only 19 banks are active in operations. Mobile banking has been proved as the most effective tool to bring unbanked people to the mainstream economic activities. Without these people, we can't achieve our SDG target.
The function was addressed, among others, by Dato Hussain A Rahman, CEO and Neiko Tanida, Director of Mobility One SDN BHD, Malaysia, HN Ashequr Rahman, MP, Chairman and Mohammad Nurul Amin, Managing Director of Meghna Bank, Dr Md Zahir Uddin, Chairman and Dr Md Shahin Hossain, Managing Director of Mobility I Tap Pay Bangladesh Ltd.
Dato Hussain A Rahman, CEO of Mobility One SDN BHD, Malasia said Digital Bangladesh is a charismatic slogan of Bangladesh government which has tremendously encouraged us to get involve with Bangladesh to launch the world's latest technology based mobile financial services.
HN Ashequr Rahman, MP, Chairman of Meghna Bank said the banking landscape is set to undergo massive technology changes as we are in the midst of this change. The number of diverse stakeholders and solution providers has created many opportunities. Our Tap N Pay will create the benchmark in the history of Bangladesh.
Mohammad Nurul Amin, Managing Director of Meghna Bank during his thank giving speech urged the government to form a separate regulatory body for mobile banking operators as the growing industry is becoming a crowded field and going to unleash opportunities from the bottom of the pyramid.

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