bKash joins hands with Grameenphone and City Bank to offer the ‘Pay Later’ service for their joint customers, making 4G and 5G smartphones affordable.
Under this arrangement, eligible bKash customers can use City Bank’s nano-loan-based collateral-free Pay Later option in the bKash app to purchase smartphones from Grameenphone Experience and its partner brand sales points with bKash merchant accounts.
Under the Pay Later service, customers will instantly get a Tk 500 to Tk 30,000 loan limit through the bKash app. The customer can fully repay the amount in 7 days without any interest; if not, Pay Later will convert into a 3-month loan with a 9% interest per annum. In the 6-month repayment option, a customer needs to make an upfront payment of 20% of the total payment amount, and the remaining 80% will be divided into six equal monthly instalments. The installments will be paid automatically on the specified date every month. Customers will also have the option of early repayment. A one-time processing fee would be applicable in the Pay Later service.
In addition, Grameenphone is offering an affordable data pack designed to cater to the evolving digital needs of its smartphone customers. For just Tk 199, customers can access 7GB of data, comprising 4GB of regular data and 3GB of social media usage, with a validity of 30 days. This offer will be exclusively available through the MyGP app for 6 months from the tagging date. Customers can purchase this offer as often as they want during this period.
Regarding the partnership, Solaiman Alam, Chief Digital Officer of Grameenphone, said, “We are delighted to collaborate with bKash and City Bank to introduce the ‘Pay Later’ service, making 4G and 5G smartphones more accessible to our customers. The cost of owning a smartphone is one of the biggest barriers to digital inclusion. By offering flexible and affordable financing options, we ensure more people can experience the benefits of a digitally connected society. I am proud to partner with two great partners with a similar vision of connecting the unconnected. We remain committed to driving innovation and enhancing our customers’ digital lifestyle.”
Ali Ahmmed, Chief Commercial Officer of bKash, said, “Pay later service aims to fulfil the immediate needs of our customers anytime, anywhere. Through this partnership, we aspire to support them in elevating their experiences in seamless connectivity and enjoying advanced digital services through smartphones. bKash will continue to work with accomplished partners like Grameenphone and City Bank to introduce more innovative products that can cater to the needs of the vast customer base.”
Md. Arup Haider, Deputy Managing Director & Head of Retail Banking of the City Bank, said, “The Pay Later service is a perfect example of innovation executed with multiple partners in the ecosystem to add significant value to customers’ lives. Today, the robust technology and framework built by bKash and the City Bank have expanded banking services like loans and savings to more customers than conventional methods.”
Grameenphone customers can seamlessly open bKash accounts directly using the MyGP app. This pioneering initiative enables customers to unlock access to diverse financial services via bKash promptly
