bKash has recently enabled lakhs of Visa cardholders to pay credit card bills through the bKash app. Users of locally issued Visa credit cards can now pay their monthly bills seamlessly from any bKash account. This new service is aimed at removing the hassle of waiting in queues and chances of missing the payment deadlines for customers. It will also enable them to pay credit card bills at their own convenience and pay any bank’s Visa credit card 24/7 from anywhere.
Eastern Bank Ltd (EBL) will provide the technological support for this bill payment service and ensure interconnectivity between Visa and bKash.
Paying a Visa credit card bill requires some very simple steps. In the bKash app, customers can find the Visa icon in the “Pay Bill” or the “Suggestion” segment. To pay the bill, customers need only to enter the credit card number, bill amount and PIN, following which the transaction is processed.
For credit card bill payment, 1% charge will be applied on the customers.
Kamal Quadir, CEO of bKash said, “Through this service, we aim at making the process of credit card bill payment seamless for the customers. We are working hard to bring hassle-free and reliable payment solutions for creating a cashless or less-cash society.”
Ali Reza Iftekhar, Managing Director and CEO of EBL said, "Credit card bill payment through bKash will help to develop the eco-system fast where banks would have more card acquisition and merchant points to bring opportunities of digital transaction across the country. This will create convenience both for consumers and banks.”
TR Ramachandran, Group Country Manager, India and South Asia of Visa said, “Busy schedules and the challenges of offline payments often result in consumers missing their credit card bill payment deadlines. We’re delighted to partner with bKash to enable bill payments for credit cards through the bKash app. This gives millions of Visa cardholders the option to pay digitally and at their convenience, further reducing the use of cash as well besides helping them pay their credit card bills on time.”
Launched in 2011, bKash, a joint venture of BRAC Bank, US based Money in Motion, International Finance Corporation, Bill and Melinda Gates Foundation and Ant Financial, operates as a payment service provider offering a broad range of digital financial services under the regulation of Bangladesh Bank.