Grameen Bank, the “Bank for the Poor” inked a MOU to use the SureCash mobile payment platform for its operation. Through this partnership, Grameen Bank members will use SureCash mobile banking to receive loans, make installment payments and do savings using their own phones.
The deal will bring the benefits of mobile financial services to 8.8 million GB members covering 97% of the villages in Bangladesh.
SureCash is a private mobile money company incorporated in Singapore, operating its Bangladesh business using wholly-owned subsidiary, Progoti Systems Limited.
SureCash operates in partnership with 6 scheduled banks, 300 payment partners and 40,000 retail agents distributed around Bangladesh. SureCash is the winner of Bangladesh Bank ‘Award of Excellence’ in 2015 and also has been recognized in Top 10 Mobile Banking Solution Providers for 2016 by Banking CIO Outlook, magazine.
The Grameen Bank is a Nobel Peace Prize-winning microfinance organization and community development bank founded in Bangladesh. It makes small loans (known as microcredit or “grameencredit”)[5 to the impoverished without requiring collateral. The name Grameen is derived from the word gram which means “rural” or “village” in the Bengali Language.
For a complete archive of more than 60,000 articles published since 1995 search the CardFlash.com library.