Bangladesh has seen an unprecedented growth of mobile banking services in the past few years. The first mobile money service, bKash, launched in the country in 2011. Today, the company accounts for 58% of market share. In 2015 alone, the value of mobile banking transaction was US$ 1423 million dollar.
Today, Bangladesh accounts for more than 8% of total mobile money accounts globally. The service has grown rapidly, with more than 12 companies offering mobile money services on the market. Competition in the space has heightened in the recent years. Multiple players are now gradually taking into bKash’s market share.