Bangladesh became the next nation to embrace the growing South Asian SMS-payment market 11.05.2017

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The mobile payment market seems to gradually conquer an entire Asian region. Recently, Bangladesh became the next nation to embrace the growing South Asian SMS-payment market. The motion to adopt the new payment solution was passed by the countries government.

According to GovInsider, the governing body is poised to implement a nationwide mobile payment system. It primarily targets citizens who don’t use banking services. Turns out it's a pretty big group of people. Experts are already making comparisons between this move and a similar situation which took place several months ago in Brazil. 

 

The initiative is a conjoined effort with the countries biggest bank - Bangladesh Bank. The network will also tap into the Bangladesh’s bKash system for mobile payments via SMS. The service will be able to operate in 1 of the 4,500  computer centers scattered across the country. Bangladesh’s Access to Information agency head Anir Chowdhury claims that a big chunk of the population is unbanked. By adding a new service, the government will help rejuvenate the county’s online economy. 

 

This seems like a good idea for a country with a high smartphone use. It’s not uncommon to see entire areas where banks are heavily outnumbered by mobile phones. The Bangladeshi treasury can also see an influx of money should the government act as a payment processor.