Analyzing the future of bKash payment service

Abstract

bKash, the largest and most popular mobile financial service provider company in Bangladesh has a customer base of more than 34 million. Apart from the cash in, cash out and other banking service provided by bKash, bKash payment is another unique service which help the bKash users to pay through their bKash wallet. But for some reasons, this service is not getting enough popularity. In this report I have tried to find out the reasons behind bKash payment not being popular also I gave some recommendations based on my research which I think might be beneficial for company to make its payment service more popular. Here to complete the report, I did a two level of survey. Firstly I did an initial survey to know about the basic mindset of people about bKash and to develop hypothesis. After developing the hypothesis, I set 2 questioners for bKash users and nonusers to get the exact feedback and also to prove the hypothesis. For the research I get to know that, people are aware of the bKash payment service, but they are not using it for mainly two reasons. Firstly there are not enough vendors who accept payment through bKash and secondly people think payment through bKash is a bit troublesome. Though users find bKash a bit problematic but they think for some reasons bKash is more preferable than cash. Some of the respondents said that, bKash gives them a sense of security and also it helps them from the hustle of carrying cash all the time. From the research I also get to know that, there are places like, grocery stores, online shops, hospitals and ridesharing apps where people want an option for bKash payment. Moreover to make the transaction of payment easy and less time consuming, there is a demand for a bKash app. It was also seen in the research that, if bKash launches a new mobile app, people will use bKash more frequently and even the nonusers will switch to bKash and do transaction through it. So, after conducting the research, I had few recommendation for bKash to make bKash payment service more popular. Firstly, they should make bKash payment service as available as possible to the customers. Secondly, bKash should come up with a bKash app to encourage users and nonusers to do payment through bKash.