Trust Bank and Axiata on Wednesday launched new mobile financial and payment service Trust Axiata Pay, styled as ‘tap’ in a bid to expand mobile based transactions.

Chief of Army Staff General SM Shafiuddin Ahmed, who is also chairman of Trust Axiata Digital Limited, the company that owns ‘tap’, today announced the commercial operation of the country's newest mobile financial and payment service in an inaugural ceremony held at the Trust Bank head office in the city, said a press release.

"In this technological era mobile financial service or MFS is a very fitting and useful technological tool. This is why Trust Bank Limited — a company of the Army Welfare Trust — has partnered with Axiata Digital Services to launch the Trust Axiata Pay or ‘tap’. I am honoured and proud to have been able to launch such a service to coincide with the birth centenary of the Father of the Nation Bangabandhu Sheikh Mujibur Rahman and the golden jubilee of the country’s independence. I hope that we will be able to bring this service to the doorsteps of people Inshallah,” said chief of Army Staff General S M Shafiuddin Ahmed.

Humaira Azam, managing director and chief executive officer of Trust Bank Limited, said, “Trust Bank aims to provide the best banking services to the people of the country. This is the reason for our partnership with Axiata Group. I believe digital transaction services can reach new heights through this partnership.”

The chief executive officer (Acting) of Trust Axiata Digital Limited, Dewan Nazmul Hasan said, “We are happy to be able to launch ‘tap’ at the year of the golden jubilee of our independence. We believe the people of the country will welcome this initiative by the Bangladesh Army and Trust Bank Limited. Trust Axiata Digital Limited will become an icon of trust in mobile banking in the country.”

Trust Axiata Digital Limited was founded in May last year as a mobile financial services company. The company is a joint venture between Trust Bank Limited, Bangladesh and Axiata Digital Services Sdn Bhd, Malaysia.

Formed under the Bangladesh Mobile Financial Services Regulations, 2018, Trust Axiata Digital Limited will operate as a Mobile Financial Services (MFS) and a Payment Service Provider (PSP) in Bangladesh.

`tap’ has brought the service aiming to promote cashless and universal banking meaning anytime-anywhere payments-transactions using mobile phones in Bangladesh. The service will cater to all customers, corporate and government payments like merchant shopping, bill payment, fund transfer, cash-out from agent, add money from bank, insurance bill, passport fees, utility bill, NID fee, tuition fees, mobile recharge and e-commerce.