City Bank and bKash launch ‘Pay-Later’ service

Business Report :
City Bank and bKash on Monday jointly launched the new service “Pay-Later”, a special collateral-free digital nano loan that facilitates payments with interest-free funds through the bKash app.

Under the facility, customers can spend money using the service on the mobile financial service even if they do not have sufficient balance in their wallets.

This allows customers to buy a product or service and pay directly with the loan. No interest will be imposed if the loan is paid within seven days, according to a press release.

Mashrur Arefin, managing director and CEO of City Bank, and Kamal Quadir, CEO of bKash, inaugurated the digital nano loan service at the head office of the private commercial bank in Gulshan of Dhaka.

Customers can borrow Tk 500 and Tk 30,000 instantly.