A comparative study between premier bank’s pmoney and the leading mobile financial service provider bKash

Abstract

Mobile Financial Service is, undoubtedly, a key player in the financial inclusion of the society at large. This research paper has compared pmoney and bKash in light of various issues. Comparative analysis in terms of features has led to find the gaps pmoney is facing such as: Merchant Payment, Beneficiary Management, Cash-in and Cash-out, et cetera among others. The customer perception survey conducted among users of both the apps revealed similar picture; payment method, cash-in cash-out, send money option etc. were highly sought after. In addition, pmoney needs improvement in UI/UX design of its app besides fixing the bug problem many users faced. While performing Porter’s Five Forces Model analysis, it has been understood that the MFS industry has an overall profitable prospects, so pmoney would naturally reap the benefit. PESTEL analysis revealed a better picture in terms of the external influencing factors that would provide pmoney sustainability and desirability. Moreover the MFS industry is also passing through its growth stage, thereby all industry players would find value without hurting each other. However, for the time being, pmoney needs to look after some concerns that might hinder its potentiality. A quick action from management for implementing the necessary steps for pmoney is vital, besides social media PR and TVCs also being essential. In addition it could form partnership with a third-party MFS provider for mutual gains, like bKash-Alipay collaboration.