Postal cash card operation begins Jun 10
Wednesday, 26 May 2010
Sonia H Moni
Bangladesh Post Office (BPO) will kick off its postal cash card operation in 31 post offices in Dhaka and greater Comilla area on June 10, BPO chief said.
BPO Director General M Mobasherur Rahman told FE, "Postal cash card is a plastic prepaid card that contains details information of the card holder and amount of money available."
"A cash cardholder can use this to pay electricity, water and phone bills and to buy anything from renowned chain shop."
He said, "We will provide this easy money transfer service in 3,500 post offices this year if we get budget allocation. We have a plan to provide this service among one million people."
Mr Rahman said, "A cash card holder can load and withdraw Tk 10 to Tk 1,00,000 at a time from Point of Sale (POS) of the selected post office. POS or checkout is the location where a transaction occurs.
A "checkout" refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register.
ATM vendor and switching solution provider IT Consultants Limited (ITCL) will provide this service under Q-cash.
He said, "A person will come to a post office and fill up a form giving requisite personal details and get the cash card instantly.
Customer will be charged one per cent against deposits every time and for transferring money from one card to another there will be a charge between Tk 5.0 and Tk 7.0 each time.
He said, "The card holder can use this card at any selected post office across the country and deposit and withdraw money within a few minute."
He said, "We are hopeful about this service as it will secure the customer's money, transfer it risk free within a short time."
Bangladesh Post Office (BPO) will kick off its postal cash card operation in 31 post offices in Dhaka and greater Comilla area on June 10, BPO chief said.
BPO Director General M Mobasherur Rahman told FE, "Postal cash card is a plastic prepaid card that contains details information of the card holder and amount of money available."
"A cash cardholder can use this to pay electricity, water and phone bills and to buy anything from renowned chain shop."
He said, "We will provide this easy money transfer service in 3,500 post offices this year if we get budget allocation. We have a plan to provide this service among one million people."
Mr Rahman said, "A cash card holder can load and withdraw Tk 10 to Tk 1,00,000 at a time from Point of Sale (POS) of the selected post office. POS or checkout is the location where a transaction occurs.
A "checkout" refers to a POS terminal or more generally to the hardware and software used for checkouts, the equivalent of an electronic cash register.
ATM vendor and switching solution provider IT Consultants Limited (ITCL) will provide this service under Q-cash.
He said, "A person will come to a post office and fill up a form giving requisite personal details and get the cash card instantly.
Customer will be charged one per cent against deposits every time and for transferring money from one card to another there will be a charge between Tk 5.0 and Tk 7.0 each time.
He said, "The card holder can use this card at any selected post office across the country and deposit and withdraw money within a few minute."
He said, "We are hopeful about this service as it will secure the customer's money, transfer it risk free within a short time."