Digital payments and services platform Dmoney yesterday announced the launch of its commercial operation for the Bangladesh market. “We have come up with a technology platform that will further accelerate the advancement of the people. This is an extremely proud moment for us Bangladeshis,” Dmoney Chairman Anjan Chowdhury said. Rapid economic growth and digitalisation of the country is happening and that development inspires Dmoney to do more for the people of the country, especially the underserved, he told a press meet at The Westin Dhaka. Vice Chairman and CEO of Dmoney Sonia Bashir Kabir expressed her excitement terming Dmoney as the most advanced app ever launched in Bangladesh by a Bangladeshi entity. Sonia said she looks at technology as a problem-solver. “The real problem to solve is the challenge of building an ‘ecosystem’ around homes and small and medium businesses and offer them all the products and services they need to operate effectively with productivity and succeed in their endeavours.” “We are happy to introduce Dmoney which will ease digital adaptation and will positively impact people’s lives,” she said. “We thank our regulator, Bangladesh Bank, for keeping their trust on us. I am confident Dmoney will be able to honour their trust.” Dmoney Co-founder and Managing Director Aref R Bashir said, “The platform serves as an ecosystem builder as Dmoney believes it is through technology and partnerships with stakeholders that we can break the cash to digital barriers.” “The app offers a rich set of services for both lifestyle and payments and is scalable and extensible so it can grow richer week to week.” Md Mezbaul Haque, general manager of payment systems department at Bangladesh Bank, was also present. The service was launched with the country’s first interoperable QR, the officials of Dmoney said. People can open Dmoney accounts with their smartphones and connect it with their bank accounts, they said. Users can also bring money to their Dmoney accounts from any debit card or credit card. Dmoney also has a range of lifestyle services available within the app, such as mobile top-up, bill payments, ticketing, foods purchase, insurance, health and many more on-demand services. The app is available for download in both app store and Google play store. Dmoney users will also get different touch points to pay bills through QR code and online gateway. Currently about 2,500 offline and online stores accept Dmoney payment. Moreover, customers of multiple leading banks, including One Bank, Trust Bank and Al Arafah Islami Bank will be a part of Dmoney’s QR alliance. In the programme, Dmoney shared their plan to grow its QR payment touch points to 100,000 by next year. The company has obtained payment service provider licence from Bangladesh Bank earlier in January this year. Currently, 16 financial organisations have the licences to run mobile financial services and only a few of them are in operation. According to a Bangladesh Bank report, Tk 35,513 crore was transacted through MFS in August, down from Tk 37,478 crore a month ago. At the end of August, the total number of registered MFS clients stood at 7.36 crore of which 3.31 crore are using their accounts for transactions. Recently, Dmoney Bangladesh Ltd has been named in the “10 Most Convenient Wallets to Watch in 2019” by APAC Business Headlines, a Hong Kong-based publishing house, and it became the only wallet from South Asia to make it to the top 10 position.
Source – The Daily Star.
