Adoption of digital payments by SMEs in Bangladesh: role of bKash’s sales division in driving financial inclusion

Abstract

This internship report, titled "Adoption of Digital Payments by SMEs in Bangladesh: Role of bKash's Sales Division in Driving Financial Inclusion," describes what I learned and experienced while working at bKash Limited in the Commercial Division – Business Sales Unit. The report's goal is to enquire at how small and medium-sized businesses (SMEs) in Bangladesh use digital payment systems and how bKash's Sales Division helps make this change happen. The study integrates primary data obtained from surveys and interviews with SME owners and Key Account Managers (KAMs), in conjunction with secondary data derived from research papers, articles, and industry reports. The analysis centres on three primary objectives: ● To understand how small and medium-sized businesses (SMEs) use digital payment systems and how bKash's Sales Division helps them do this. ● To find out how digital payments affect the efficiency of small and medium-sized businesses, including managing cash flow, keeping transactions safe, and reducing administrative work. ● To find out how using bKash services helps small and medium-sized businesses grow, such as by increasing sales, gaining new customers, and becoming more competitive in the market. The results show that SMEs that used bKash had faster payment collection, fewer cash losses, and less work for their staff. Switching to digital payments also helped small and medium-sized businesses (SMEs) boost their monthly sales, get more customers, and improve their market position by competing with bigger companies and getting into e-commerce channels. These results show that bKash is more than just a Mobile Financial Services (MFS) provider; it is also a partner in helping small and medium-sized businesses grow and get access to financial services. The report ends with suggestions for bKash to improve post-onboarding support, create products for small and medium-sized businesses, and make training programmes better. It also says that small and medium-sized businesses (SMEs) should make digital payments a central part of their operations and that policymakers should make it easier for people to use digital payments. In short, this internship has given me real-world experience in understanding how new fintech ideas help Bangladesh's economy grow and make it easier for everyone to get access to financial services. The Sales Division of bKash plays a key role in connecting traditional small and medium-sized businesses with a digital-first economy, which will lead to a Bangladesh that is more cashless and open.