upay and Grameenphone team up to simplify MFS account opening and recharging

Mobile Financial Service provider upay in association with the country's largest mobile phone operator and tech service leader, Grameenphone has launched an innovative yet simple MFS account registration process allowing Grameenphone customers to open upay accounts by dialing upay USSD code *268#.

Alongside, the connectivity partner to Digital Bangladesh has brought in mobile recharging services using Grameenphone's USSD code *121# for the first time in the country, reads a press release. 

Arif Quadri, Managing Director and CEO of United Commercial Bank Limited, and Yasir Azman, Chief Executive Officer of Grameenphone Limited jointly inaugurated the services at an event held at Hotel Sheraton in the capital. Senior officials of UCB, upay and Grameenphone were present at the programme. 

Under this simplified customer registration process, Grameenphone customers would have to dial upay USSD code *268# and give consent to Grameenphone for sharing specific information such as NID Number and Date of Birth with upay. After completing initial registration, customers can cash in and recharge up to Tk500. To complete registration, customer will need to capture their own photo either from the closest upay agent point or from their app. 

A vast number of the adult population, mostly living in the bottom of the pyramid, are unable to open MFS accounts as they are basic phone users which do not support access to internet connectivity. As a result, they remain out of the purview of digital financial revolutions in the country. 

To overcome the challenges and provide them with regulated financial services, Grameenphone and upay collaborated to develop the USSD-based customer registration solution by simplifying customer account registration process. This solution allows Grameenphone customers to open upay accounts only by dialing *268# even on their feature phones.

UCB Managing Director and CEO, Arif Quadri said, "We hope the introduction of a USSD-based MFS account registration process will immensely benefit upay and the MFS industry as a whole for facilitating the people to open MFS accounts quickly but in a compliant manner to provide financial services." 

Grameenphone CEO, Yasir Azman said, "Grameenphone's purpose comes to life when our efforts empower people and minimizes the digital divide. The first-of-its-kind innovative solutions which enables feature phone users to open MFS accounts and recharge their phones is a revolutionary step in the industry. Grameenphone has built the strongest digital network in the country and continues to bring in innovations and such partnerships will benefit our customers."

Besides, upay and Grameenphone together also launched an innovative mobile recharge service under which upay customer can recharge their Grameenphone numbers using Grameenphone's USSD code *121#.  For the first time, Grameenphone, the connectivity partner to Digital Bangladesh, has brought in the facility of recharging mobile balance using the Operator's USSD code (*121#), the press release read.

Upon dialling USSD *121#, customers will get the 'Recharge' menu, and upay account holders can easily recharge any Grameenphone numbers just by entering their number and the recharge amount. Then users have to input the PIN number of the upay account. This journey will bring the next level of convenience for Grameenphone customers in recharging their own and other Grameenphone numbers anytime, anywhere.