bKash offers payment scope for buying sacrificial animals

For the first time, all types of digital payments are available for purchasing sacrificial animals at the cattle markets in Dhaka.

As a result, customers are getting the opportunity to pay cattle price and Hasil (charge that buyers pay on the purchasing price) through bKash at the cattle markets under the ‘Smart Bangladesh, Smart Haat’ initiative taken by Bangladesh Bank and Dhaka North City Corporation (DNCC), bKash said in a statement.

Under the pilot project ‘Smart Bangladesh, Smart Haat’, cashless bKash payment is available for purchasing sacrificial animals in 6 cattle markets at Gabtoli, Basila, Aftabnagar, Vatara, Kawla and Uttara Sector 17.

The sellers are also benefited as they can Cash Out the payment received in their bKash merchant account from the agent point at the haat without any charge or can get it directly in their bank accounts. bKash agents are present at the cattle markets to ensure seamless Cash Out service for both buyers and sellers.

For the first time, Hasil management has also been digitized to ensure a full-fledged digital payment service for leaseholders of the cattle markets, buyers and sellers. Those who want to buy sacrificial animals with or without cash can pay the Hasil through bKash.

Customers will be able to easily pay the Hasil by scanning bKash QR code placed at different places of the cattle markets. On the other hand, the leaseholder can also Cash Out the payment coming in their bKash merchant accounts from the agent without any charge or receive it directly to their bank accounts.

The opportunity to pay through bKash has made the payment management of the whole cattle market easier. Besides, it has been convenient and transparent for the leaseholders to keep track of all the Hasils received.

To facilitate cattle sellers and leaseholders with bKash account, arrangements of opening ‘Personal Retail Account’ (PRA) are available at the cattle markets. Daily Cash Out limit of these PRAs will not be applicable and monthly limit has been increased to Tk 10 lakh from Tk 3 lakh according to new guidelines of Bangladesh Bank.

Similarly, the monthly transaction limit of receiving payment has been increased from Tk 5 lakh to Tk 10 lakh. After July 12, the daily transaction limit will return to its previous state as per this directive.

As part of building a digital Bangladesh, Bangladesh Bank and DNCC are conducting this pilot project ‘Smart Bangladesh, Smart Haat’ to reduce cash dependency in cattle markets, give security of buyers and sellers and prevent fraudulent activities.

The Ministry of Fisheries and Livestock and the Bangladesh Dairy Farmers Association are the collaborators in this initiative.

bKash, country’s largest mobile financial services provider, is available as MFS payment partner in each of these cattle markets.