Dhaka, 2 April 2024 :Banglalink, the country’s innovative digital service provider, joins hands with bKash and the City Bank to offer the ‘PayLater’ service for their joint customers to make smartphones affordable.

Under this agreement, customers will be able to avail of City Bank’s nano-loan based collateral-free PayLater option in the bKash app to purchase smartphones from Banglalink Centers and its smartphone partner brand outlets having bKash merchant accounts.

The new partnership enables customers to avail of the transition from 3G or 2G devices to a 4G smartphone, where eligible customers will receive a loan of up to Tk 30,000 at zero percent interest, provided it is repaid within 7 days. Besides, customers will also be able to buy smartphones in 3 to 6 months installments with 9% interest per annum. This offer, available at all Banglalink points, will assist more in adapting digital services for the customers.

Erik Aas, CEO of Banglalink has inaugurated the service at the Banglalink Center in Banglalink Head Office. Upanga Dutta, Chief Commercial Officer of Banglalink; Ali Ahmmed, Chief Commercial Officer of bKash and Md. Arup Haider, Head of Retail Banking, the City Bank and other high officials were also present at the inauguration ceremony.

At the same time, they inaugurated Smartphone Fest and PayLater Mela highlighting attractive smartphone portfolios of major device brands bundled with Banglalink Internet benefits at lucrative prices. Banglalink customers and employees will be able to purchase smartphones from the Festival using bKash PayLater service.

Under the PayLater service, eligible customers will get a limit of Tk 500 to Tk 30,000 loans instantly through bKash app. If a customer is unable to fully repay within seven days, then that PayLater will convert into a 3-month loan with a 9% interest per annum. In the 6-month repayment option, a customer needs to make an upfront payment for 20% of the total payment amount and the remaining 80% will be divided into six equal monthly installments. The installments will be paid automatically on the specified date of every month. Customers will also have the option of early repayment.

Erik Aas, Chief Executive Officer of banglalink said, “Today we have launched a very important initiative in the nation building of Bangladesh towards digital transformation. With the simple steps in PayLater service in bKash app, banglalink customers will find smartphone purchase very affordable.”

Upanga Dutta, Chief Commercial Officer of Banglalink said, “Smartphone affordability is extremely important for building a Smart Bangladesh. Banglalink is happy to partner with bKash and the City Bank and introduce the Pay Later service for customers as the first mobile operator in the country. This service will let customers purchase their desired smartphones in easy installments. Hence, an increasing number of customers will be able to upgrade to smartphone usage and benefit from the power of Internet in their daily lives through Banglalink’s Fastest 4G Internet network across Bangladesh.”

Ali Ahmmed, Chief Commercial Officer of bKash said, “Now eligible bKash customers, even sitting in the remotest part of the country can avail of this PayLaterservice instantly. bKash will continue to work with banglalink and all partners to ensure digital inclusion for customers by introducing innovative products that can cater to the needs of vast customer base.”

Md. Arup Haider, Head of Retail Banking of the City Bank said, “The PayLater service is a perfect example of innovation executed together with multiple partners in the ecosystem to add significant value to customers’ lives. Today, the robust technology and framework built by bKash and the City Bank have taken banking services like loans and savings to a larger number of customers than the conventional methods.”