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CUSTOMERS More than 20cr customers in the country bKash has 7cr account holders Nagad has 8cr account holders REASONS BEHIND SUCCESS Long-term plan Investment and innovation Following subsidiary model

MFS is a highly competitive virtual retail banking service and it is as volatile as any fast-moving consumer product. Not all of the companies that have obtained licences necessarily have the required insights about this business. As a result, they have failed.

Abu Saeed Khan

senior policy fellow at LIRNEasia

REASONS BEHIND FAILURE

Abrupt cuts in investment

High customer acquisition cost

High technology costs

Exorbitant cost of operation

Lack of skilled human resources

Lack of understanding about market