Mobile Financial Services (MFS) such as bKash and Rocket have been empowering the general mass with mobile banking services, including fund transfers for a number of years now. Despite the huge acceptability of the services, the Association of Mobile Telecom Operators of Bangladesh (AMTOB) have claimed that cell phone operators have incurred losses of Tk 850 crore over the last 5 years in providing the services. The association has stated that operators are no longer willing to offer these services free of cost. For each transaction they demand charges ranging from Tk 1.5 to 2.
AMTOB has sent a letter regarding the issue to Bangladesh Telecommunication Regulatory Commission (BTRC). The letter says that the operators receive a charge only when payments are completed through the services, and not when the customer checks their balance or makes bill payments.
MFS service providers bKash and Rocket have said that such charges will increase costs for the mass and will discourage them from using the services. To resolve the issue, Bangladesh Bank held a meeting on Tuesday with the representatives from BTRC, MFS service providers, cell phone operators and other relevant agencies participating, with governor Falze Kabir leading the session, says published in the Daily Prothom Alo.
Currently, Tk 1.85 is charged per 100-Taka worth of transactions, of which 77% goes to the agent, 7% to operators and the remaining 16% is received by the service provider. But most agents charge the customers Tk 2 per 100 Taka.
AMTOB has claimed that 86% of all USSD transactions are conducted free of cost, which resulted in operators losing around BDT 847.60 crores in revenues between 2011 and 2016. This also caused BTRC to earn Tk 55 crore less from the sector.
Statistics by operators show that USSD data transfers from MFS have increased from 38 lacs to 8 crores 56 lacs within just two years. Despite the 12-time increase USSD data usage, the earning from the service has remained the same. During the same period, short messages sent using USSD has also increased from 5 lacs to 80 lacs.
Bangladesh Bank statistics show that there are over 5 crore 37 lacs MFS accounts in the country, of which 2 crores 74 lacs are actively used, which are used for transactions worth Tk 1,000 crores on average every day.
