E-Cash, an automated teller machine (ATM) network company, has claimed it reached the final stage of its negotia-tions with Cash Link Bangladesh to build a partner-* ship with the latter to help expand business.

"We have been talking for over two years. There will be a deal once the formation of Cash lank Bangladesh is finalised by its partners," said Zahir Ahmed, managing director (MD) of E-Cash.

E-Cash is the pioneer in ATM services in Bangladesh. The company, launched in October 2001, has now only 24 ATM booths. Another 20 booths are under implementation process, according to the company's top official.

Cash Link Bangladesh, a new company proposed by five banks and their technology operations management part-

ner, Euronet Worldwide, wants to become a competitor for ATMs from the very beginning. AB Bank is the leading partner with 30 percent stakes in the proposed company.

"We want to expand, but it needs capital,” Zahir Ahmed said, adding that Bangladesh has huge potentials in expansion of ATM network.

E-Cash alone plans increasing the ATM booths to 100 by this year, the official claimed.

Bangladesh Bank data shows that there are about 600 ATMs in the country. The number was less than 300 a year ago. Currently, Dutch-Bangla Bank Limited has the largest network with 260 ATMs. The other major ATM market players are BRAC Bank, Q-Cash and Standard Chartered Bank.

. Market experts predict that Bangladesh has great potentials in introducing online delivery channels. Currently, only 7-8 percent of the popula-

tion has access to banks.

"The number of bankable population could easily be five crore who were never been attracted by the banks,” the E-Cash MD said, pointing to the fact that the company has been growing at 20-25 percent a year for the past couple of years.

When contacted, the Cash Link Bangladesh's partner banks said they are now negotiating on the price issue.

E-Cash's paid-up capital is nearly Tk 4 crore and the total valuation of the company is Tk 12 crore.

E-Cash is owned by United Group and maintained by Electronic Transactions Network Ltd (ETN). ETN has agreement with eight banks. These are: Agrani Bank, Bank Asia, Dhaka Bank, Islami Bank Bangladesh, Social Investment Bank, Southeast Bank, State Bank of India and AB Bank.

sajjad@thedailystar.net