bKash in persuasion to raise Nagad's cash-out charge

Mobile Financial Services (MFS) operator bKash is in persuasion to raise the cash-out charge of digital financial service provider Nagad on the ground of creating level playing field, reports BSS.
To this end, the MFS operator sent a letter to the Posts and Telecommunications Division, seeking policy support from the government for their smooth business operation.
Talking to the news agency, Posts and Telecommunications Minister Mustafa Jabbar has said that Nagad, being an entity of Bangladesh Post Office, will run operation with own style considering business case.
"We would operate Nagad's business pinning upon our own goal prioritising the interest of the country's mass people," he stated.
Prime Minister Sheikh Hasina officially inaugurated operation of Nagad on March 26, 2019, and within the short span of time, Nagad has expanded service network across the country. On January 10, Nagad has exceeded milestone of Tk 1.0 billion (Tk 100 crore) in daily transactions.
Officials familiar with the process said bKash has been persuading in different tiers of policymakers to re-fix Nagad's cash-out charge to Tk 18.50 and as part of this process it also met high ups of government.
They said if the new charge is set, MFS transaction cost of mass people would be increased, resulting bKash would get business benefit by extending its monopoly stake further in the market.
Market insiders said bKash has been charging Tk 20 for per Tk 1,000 since long while Nagad is currently offering customers the most "value for money" cash-out charge in the industry which is Tk 14.50 for per Tk 1,000. In addition, Nagad is also offering of Tk 5.00 cash back for per Tk 1,000 cash-in, they mentioned.
They added that Nagad has been moving ahead with different offers to bring equilibrium in the market.