More than 90% of people living in Bangladesh do not have bank accounts. But 75% have something that could be just as good: mobile phones that have the capacity to make digital payments.
Using a digital payment platform called bKash, Bangladeshis can send money easily and inexpensively from one mobile wallet to another and receive cash payments at any one of 100,000 agents mostly mom-and-pop stores distributed throughout the country. The service allows them to support relatives around the country and pay merchants in their own neighborhoods. The platform has already achieved widespread success, launching 13 million accounts in its first three years and processing more than 1.5 million financial transactions per day.
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