In their latest bid to make lives easier for the small business owners, bKash introduces “Personal Retail Account” option- a new transactional bKash account for the small business owners that can be opened without a trade license.
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The brand seeks to integrate cashless transactions into these establishments to alleviate the pressures of the pandemic.
Unlike most other non-banking services, opening a “Personal Retail Account” is quite simplistic. Establishments won’t need a trade license to avail this service by bKash. Yet, they will be able to avail all of their services and use them effortlessly. Opening this account is quite similar to that opening a personal account.
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All they will need is their National ID and a valid mobile number. Once they verify the necessary documents, business owners will be able to use all of its facilities.
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Personal Retail Account will have the following two profiles
- Personal Retail Account with limited transaction profile (Offline PRA Holder)
Limited transaction means: Per transaction Limit BDT 999
- Personal Retail Account with full transaction profile (Online PRA Holder)
Full transaction means: Per transaction Limit BDT 2,000
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Personal Retail Account or PRA services
- Receive payment from bKash Customers
You can collect payment from bKash customers easily. A bKash customer can make payment by scanning your Personal Retail Account QR, via bKash Payment Gateway or by manually typing your Personal Retail Account No. via USSD channel. Limit applicable
- Send Money to bKash Customers
A Personal Retail Account holder can send money to a bKash customer using the Send Money feature. Charges & Limit applicable
- Agent & ATM Cash Out
A Personal Retail Account Holder can do cash out from any bKash agent and following ATM booths; BRAC Bank & Q-Cash. Charges & Limit applicable
- Merchant Payment to PRA & other merchants
A Personal Retail Account holder can make payment to another PRA. Besides, a PRA can also make payment to the following bKash merchant accounts (Merchant Plus, Merchant Plus Lite A & B, Medium, Small, and Micro). Charges & Limit applicable
- Receive Payment from another PRA and bKash Merchant Accounts
A Personal Retail Account holder can receive money from another Personal Retail Account as well as following bKash merchant accounts (Merchant Plus, Merchant Plus Lite A & B, Medium, Small, and Micro). Limit Applicable
- PRA to a Linked Bank Account
A Personal Retail Account Holder will be able to link his/her bank account and can transfer money from his/her Personal Retail Account to his/her linked bank account. This feature will be available in the future in Merchant App only. Limit & charges applicable
For details, visit the bKash website.
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On top of that bKash is also offering lucrative incentives on opening a personal retail account like account-holders will be able to extract cash up to BDT5,000 without getting charged any transaction fee.
With there being two different types of “Personal Retail Accounts”, it’s safe to say retailers won’t have to worry about financial transactions for the foreseeable future.
What are your thoughts on bKash’s latest initiative? For more updates, visit Markedium!
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