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It only takes 10 seconds to open an account for mobile financial services! It was a surprise for a while, but it was made possible by the postal department’s ‘Cash’ mobile financial service. But just a few days ago to open an account to fill out a few pages of the form, photo and copy of the DNI, we had to wait a few days.
Grameenphone customers can now open a “cash” account in less than 10 seconds.
The service is now running on an experimental basis. It will be officially launched in the next few days, officials at Grameenphone and ‘Cash’ said.
In this process, the customer verified by the Grameenphone biometric system can open a “cash” account simply by dialing * 18 # from their mobile phone. The account opening will be completed only if the customer establishes a four-digit PIN in the process.
However, if the customer wants to use the account through the app, then they have to download the ‘Cash’ app from the Playstore or Appstore and activate the account there.
In the general case, the verification code must be configured in the same way that the customer gets a verification code after giving the mobile phone number to use the account in the application after downloading any other application. Then the account will start in the application.
In recent days, several Grameenphone subscribers have opened “cash” accounts through this experimental service.
Muhammad Zahidul Islam, Head of Public Relations, Cash, said that they have been working in various ways from the beginning to facilitate the process of opening mobile financial accounts. As part of that process, such a facility was introduced for Grameenphone customers.
“We believe that if the process of opening an account is easy, more people in the country can quickly enter financial inclusion,” said Zahidul Islam.
According to relevant sources, around 70 percent of the country’s population is currently covered by financial inclusion through banks and various types of mobile financial services. With the expectation of “cash”, the entire population of the country will be covered by financial services in the next five years.
Previously, Teletalk and later Robi and Airtel customers had the opportunity to open a ‘cash’ account in the same process and there was a good response. However, many customer accounts are easily opened in the process from two operators.
After Grameenphone, ‘Cash’ has already started discussions with the operator to present the same installation for Banglalink customers.
On March 26 last year, Prime Minister Sheikh Hasina officially launched the Bangladesh Postal Department’s financial transaction service ‘Nagad’. Since then, new cash-based services have appeared daily, including digital KYC. The process of opening an account by dialing * 16 # is also part of it.
‘Cash’ says that since mobile operators have all the biometric verification of their customer information, the same information can be used by everyone from one place without repeatedly giving it to different companies.
Before launching this service, the second ‘effective’ operator considering the number of subscribers received approval from the Bangladesh Telecommunications Regulatory Commission. According to the commission, the number of active subscribers to Grameenphone in June was 7.45 million rupees.
According to the Bank of Bangladesh, there are nine crore 26 lakh mobile financial accounts in the country at the end of July, of which four crore 26 lakh accounts are operational.
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