First Global Data has concluded the definitive agreement to deploy mobile payment services across Bangladesh with strategic partner Aamra Payment Solutions, a division of Aamra Group.
First Global will white label its mobile wallet technology and launch services jointly with Aamra in Bangladesh under the Aamra Pay brand. Aamra has access to more than 5 million users in Bangladesh. First Global will also originate remittance transactions to Bangladesh and deliver funds to beneficiaries in Bangladesh via the mobile wallet.
Aamra will integrate the Aamra Pay app into the mobile handsets (WE Mobile) they manufacture and distribute in Bangladesh. Their 14,000+ POS locations will be integrated into the mobile wallet to leverage a new way of payment and will be used for Cash-In and Cash-Out. Aamra currently holds a market share of 75 per cent of the POS market and Aamra solutions are preferred by 14 of the 17 leading banks and financial institutions in Bangladesh.
Some of the services and capabilities of the Aamra Pay mobile wallet, provided by First Global include:
- Registration, Login/out, Forgot Password, Receipts
- Payment Gateway Credential
- Top Up for both prepaid and postpaid
- Fund transfer P2P
- Redeem Coupon
- Mobile PIN
- Cash In at branches
- Cash Out at ATM machines
- Merchant Payment Web & App
- QR Code and QR Pay
- Online Payment Gateway
- Integrated Analytics
According to Wikipedia, "Remittance has become a major contributor to the Bangladeshi economy. As the emigrant workers from Bangladesh gradually increased over the years, the amount of annual remittance to the country significantly rose. According to World Bank, Bangladesh is now one of the largest recipients of remittance with almost $15 billion as of June 2015."
"We are very pleased to have concluded the definitive agreement with Aamra and are shifting to deployment mode. Aamra is an excellent partner and are as motivated as First Global to provide our leading edge mobile payment and cross border payment services to the Bangladesh market", commented Andre Itwaru, Chairman and CEO of First Global.