The joint venture between Trust Bank Limited and Axiata Digital Services will look to get market share of MFS market by focusing mainly on remittance products. Dewan Nazmul Hasan, acting CEO of Tap stated that he expects the country to be totally dependent on MFS within the next decade.
Bkash is the market leader in the MFS industry with 48% market share followed by Nagad and Rocket with 28% and 21% market share respectively. The company aims to increase its market share by targeting remittance where only 0.5% of the remittance is transferred through MFS.
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