Sunday, 5 December 2010
BANGLADESH: Luup And ITCL Launch Q-Cash Mobile
With 26 member banks and largest ATM network of end-user access points as well as over 10,000 post offices branches across Bangladesh, IT Consultants Limited (ITCL) offers crucial payment services to over 100 million people via its hub. Now, ITCL has partnered with mobile payments solutions provider Luup to mobile- enable all services and establish the largest Mobile Payments Hub in Bangladesh.
Many Bangladeshi migrants are working in other countries, especially the Gulf Cooperation Council (GCC), which hosts more than 3.5 million Bangladeshi expatriates. Thus the new hub will offer a convenient solution for receiving and distributing remittances to Bangladesh from the GCC, including the United Arab Emirates (UAE). The sheer volume of money access points provides a cost effective cash-out network for inbound remittances. Many of these transfers will have been made from money credited via payroll payments directly onto the mobile phone of migrant workers – thus providing them with seamless, cost effective payments corridors. Read more