Business
Mobile financial services platform for Meghna Bank
Mobile financial services platform for Meghna Bank.
About this update from Mobilityone Limited
[{"type":"text","content":"\n \nRNS Number : 9217Q MobilityOne Limited 15 September 2017 \n\n15 September 2017\nMobilityOne Limited\n(\"MobilityOne\", the \"Company\" or the \"Group\")\n \nDeployment of mobile financial services platform for Meghna Bank in Bangladesh\n \nMobilityOne (AIM: MBO), the e-commerce infrastructure payment solutions and platform provider, is pleased to announce that the Group, together with its technology partner, Mobility i Tap Pay (Bangladesh) Limited (\"MiTP\"), has successfully deployed a new mobile financial services platform for Meghna Bank Ltd (\"Meghna\") in Bangladesh. \n \nAs announced on 10 April 2017 MobilityOne is MiTP's technology partner supporting MiTP to provide a mobile financial services platform for Meghna in Bangladesh. MobilityOne holds an option to acquire a 55% shareholding in MiTP for a nominal consideration.\n \nThe mobile financial services platform, named \"Tap 'n Pay\", has been launched by Meghna and has started accepting new account registrations. MiTP anticipate that these services will play an important role in Bangladesh where the majority of the population remains unbanked. With the entry of \"Tap 'n Pay\", the unbanked population will now be able to get access to basic banking services such as fund transfer from banking agents at convenience stores. \"Tap 'n Pay\" uses Near Field Communication (NFC) technology card as a payment instrument and an android based point of sales as the payment device. An extensive network of partner distributors provides the necessary coverage to support the transactions conducted by the banking agents. \n \n\"Tap 'n Pay\" is a joint initiative by Meghna and MiTP. The \"Tap 'n Pay\" brand was officially launched by Finance Minister of Bangladesh, Mr AMA Muhith, in March 2017.\n \nTo date there have been more than 4,000 point of sales deployed in Bangladesh by MiTP and the Board of MobilityOne understands that MiTP's plan is to aggressively expand the point of sales through to the end of 2018. MiTP has used MobilityOne's customised agent banking solution for the point of sales deployment in Bangladesh. \"Tap 'n Pay\" mobile financial services offered through agents include bank account opening, digital payment, domestic fund transfer, prepaid reload, bill payment, bus and movie e-tickets and other products in the pipeline which wil...