future startup logo
Subscribe

In an Effort to Grow its Wallet Network, MoneyGram Partners With bKash, Enabling bKash Users to Receive Funds Instantly From Around the World

MoneyGram International, the global cross-border P2P payments and money transfer company, on Wednesday announced the expansion of its mobile wallet network through the integration with bKash, Bangladesh's leading mobile financial service (MFS) provider.

The integration comes as part of MoneyGram's ongoing partnership with Thunes, a B2B company that powers payments for the world's fastest-growing businesses.

What it means: With the partnership, over 55 million bKash wallet users in Bangladesh will now be able to receive funds through MoneyGram into their bKash wallet instantly from around the world.

More to that: MoneyGram is known for its global P2P payments and money transfer solution. The company serves both individuals and businesses through a network of agents and financial institutions.

As the world of finance goes digital, MoneyGram has been focusing heavily on digitization of its receive network as a part of its growth strategy. The company said in a recent announced that total transactions received digitally through the MoneyGram platform reached a new all-time high in the third quarter of this year, with 63% year-over-year growth.

The bKash partnership should further support this strong growth while helping millions of bKash users directly receive money from around the world.

bKash and integration: For bKash, third party integration is not new. In fact, the company has been working on integration with third party service providers for a while. The company says it works with more than 50 money transfer services like MoneyGram and remittance earners can transfer money through banking channel from almost 90 countries of the world and bKash distributes the money to the end user.

Shifting consumer preference and remittance: Digital payment has experienced accelerated growth over the years. Consumer preferences receiving money transfers digitally. MoneyGram's integration with bKash hints towards a changing world of finance.

Across many areas of the world, especially in parts of Asia, remittances remain a vital role in consumer lives, while demand for digital options and mobile wallets continues to surge.

According to the World Bank, an estimated 22 Billion USD flowed into Bangladesh in the form of remittances in 2020, accounting for almost 7% of the country's GDP in the year.

MoneyGram's integration with bKash should ease remittance transfer, increase access to direct remittance services and help accelerate financial for many in Bangladesh.

Something to know about bKash: Founded in 2011, bKash is a leader in MFS and a fast-growing player in the digital landscape in Bangladesh. Along with receiving remittances in real-time, bKash wallet can be used to pay for a variety of products and services including mobile recharge, utility bill payments, and food delivery, ridesharing, and ecommerce services. A growing number of retail points also now accept bKash payment in Bangladesh

bKash has taken several initiatives around making remittance transfer easier. In 2026, a collaboration between MasterCard, Western Union and bKash made it possible for bKash users to receive international remittance directly on their mobile phones. During the pandemic, bKash has helped Bangladesh boost its inbound remittance and promoted cashless transactions further by offering 1% cash bonus on top of 2% government incentive and wide range of payments solutions.

Something to know about MoneyGram: MoneyGram is leading the evolution of digital P2P payments. The company is known for its global P2P payments and money transfer solutions. The company says, using a combination of a purpose-driven strategy to mobilize the movement of money, a strong culture of fintech innovation, and leading customer-centric capabilities, it has grown to serve nearly 150 million people around the world over the last five years.

The Company leverages its modern, mobile, and API-driven platform and collaborates with the world's leading brands to serve consumers through MoneyGram Online (MGO), its direct-to-consumer digital business, its global retail network and its emerging embedded finance business for enterprise customers, MoneyGram as a Service.

Ruhul Kader is a technology and business analyst based in Dhaka, Bangladesh. He is also the co-founder and CEO of Future Startup and author of Rethinking Failure: A short guide to living an entrepreneurial life. He writes about internet business, strategy, technology, technology policy, and society. He can be reached at [email protected]

In-depth business & tech coverage from Dhaka

Stories exclusively available at FS

About FS

Contact Us