ONE Bank Launches Mobile Financial Service OK Wallet

ONE Bank Limited has joined the race for digital banking and payment domination in Dhaka. The private sector commercial bank said in a statement that it has launched a mobile financial service and digital payment service called OK wallet. The ambition is to provide convenient services to its core banking customers and while also taking banking and payment services to a wider group of customers.

• OK Wallet promises to provide a host of services including cash-in, cash-out, transfer money, cash deposit and withdrawal, in-store shopping by QR code, utility bill payment, money transfer, mobile recharge, inward remittance, insurance premium, salary disbursement, and e-commerce payment.
• It says OK Wallet is a combination of MFS, digital wallet and digital banking services. One Bank has been working on the product for a while.
• OK account can be opened and topped up at ONE Bank branches and agent points and cash can be withdrawn at branches, OBL ATMs and agent points.
• Smartphone users can use the wallet by downloading the OK wallet app from Google Play Store and Apple Store.
• Feature phone users can avail the services by dialing *269# on mobile keypad.

Digital payment is a hot commodity in Dhaka now. Everyone wants to have one. With the growth of the internet and mobile penetration, it is no brainer that mobile is going to be a gamechanger for almost every sector - from finance to commerce to transportation.

For digital finance, it has been an eventful year. bKash launched its app, iPay formally launched in the market and a handful of banks started to take digital banking seriously. With OK Wallet, One Bank is the fifth digital payment player to enter the market this year along with bKash, iPay, Nexus Pay by Dutch Bangla Bank and Upay by UCB.