4G Smartphones affordable for Grameenphone customers through bKash ‘Pay Later’ service
bKash joins hands with Grameenphone and City Bank to offer the ‘Pay Later’ service for their joint customers to make 4G and 5G smartphones affordable.
Under this arrangement, eligible bKash customers will be able to avail of City Bank’s nano-loan-based collateral-free Pay Later option in the bKash app to purchase smartphones from Grameenphone Experience and its smartphone partner brand sales points having bKash merchant accounts, according to a press release.
Under the Pay Later service, customers will get a limit of Tk 500 to Tk 30,000 loans instantly through bKash app. Customer can fully repay the amount in 7 days without any interest, if not, then that Pay Later will convert into a 3-month loan with a 9 per cent interest per annum. In the 6-month repayment option, a customer needs to make an upfront payment for 20 per cent of the total payment amount and the remaining 80 per cent will be divided into six equal monthly instalments. The instalments will be paid automatically on the specified date of every month. Customers will also have the option of early repayment. A one-time processing fee would be applicable in Pay Later service.
In addition, Grameenphone is also offering an affordable data pack designed to cater to the evolving digital needs for its customers using smartphones. For just Tk 199, customers can access 7GB of data, comprising of 4GB regular data and 3GB for social media usage with a validity of 30 days. This offer will be exclusively available through the MyGP app for six months from the tagging date. Customers can purchase this offer as many times 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 are ensuring that 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 to elevate their experiences in seamless connectivity and enjoy 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 together 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 taken banking services like loans and savings to a larger number of customers than the conventional methods.”
Alongside, Grameenphone customers can now seamlessly open bKash accounts directly within the MyGP app. This pioneering initiative enables customers to promptly unlock access to a diverse range of financial services via bKash.