Dhaka, Bangladesh – SureCash launched a service to disburse government stipend to 10 million mothers in Bangladesh. The program was inaugurated by Prime Minister Sheikh Hasina using video conferencing with beneficiaries in 3 districts.
The Prime Minister said, “Government is disbursing primary education stipend directly to mobile banking accounts of 10 million mothers. Now mothers will get stipend money sitting at home. They do not have to take long walks or spend a few hours to get this education incentive. Now people in rural areas are also getting the benefits of advanced digital services.”
Advocate Mustafizur Rahman, minister for Primary and Mass Education, said, “We have opened mobile banking accounts for 10 million mothers in a very short time in collaboration with 60,000 schools. SureCash, Rupali Bank and our ministry worked closely to implement this large project.”
SureCash CEO Dr. Shahadat Khan said, “SureCash offers a complete mobile payment service for its customers and payment partners including people, businesses and government. We are glad to be part of the largest payment digitization project in the country reaching 10 million families in 80,000 villages.”
SureCash is the fastest growing fintech company in Bangladesh. Since launching its services in 2014, SureCash has created an open payment network in partnership with 5 banks, 650 payment partners and more than 100,000 retailers around the country. Customers can make and receive payments from government or businesses, pay school and college fees, pay utility bills, make ecommerce transactions, and make person-to-person (P2P) transfers.
In recent years, mobile financial services have made phenomenal progress in Bangladesh, a country of 160 million people. Early providers focused on P2P transfers and mobile phone recharges using exclusive bank relationships. Today, SureCash is the leading provider working with multiple banks that focuses on the vast and largely untapped mobile payments space, where transaction volume is expected to reach 150 billion USD by 2021.