What is Mobile financial services?
Mobile financial services are bank grade payment services delivered over mobile phones. In Bangladesh they are everyday retail payment rails rather than a niche channel.
Mobile financial services are bank grade payment services delivered over mobile phones. In Bangladesh they are everyday retail payment rails rather than a niche channel.
In Bangladesh
A shop may take bKash, Nagad, Rocket and Upay at the counter and settle to different accounts. Recording them all as generic cash makes the bank reconciliation impossible.
An example
A counter takes BDT 31,000 across bKash, Nagad and Rocket in one evening. Recorded as one cash figure, the drawer is short by BDT 31,000 and nobody can say why until somebody reconstructs the day.
In SORS ERP
SORS ERP records each provider as its own payment method so counter and invoice receipts are split by rail. Online collection runs through SSLCommerz, which carries the mobile financial services along with cards and bank. There is no direct merchant API integration with bKash.
Also called
- In Bangla
- মোবাইল ফিনান্সিয়াল সার্ভিস
- Also
- MFS
- Also
- bKash Nagad Rocket Upay
Questions
Answered plainly, including where the answer is no.
Do I need a merchant account for each service?
For accepting payment at a counter you need whatever arrangement each provider requires. In the ERP each is a payment method regardless, so the books stay correct whether you hold a merchant account or take payment to a personal number.
See SORS ERP running on your own numbers
A 30-minute demo in Bangla or English, with your products, your VAT setup and your questions.