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SureCash: A Robust Platform for Mobile Banking and Payments

Shahadat Khan, CEO, SureCashShahadat Khan, CEO
With the proliferation of smart phones and other digital devices always connected to Internet, globally customers are expecting more and more services at their fingertips. SureCash Pte Ltd with offices in Singapore and Dhaka, Bangladesh, is the provider of the SureCash mobile payment platform to aid banks and payment partners to leverage the explosive rise of financial services using mobile phones.

“Our solution is a leading payment platform for all mobile phone users, enabling them to make or receive various payments such as salary and allowances, in-family payments, utility bills, in-store and online purchases and education fees, and thereby save time, money and visits,” begins Dr. Shahadat Khan, CEO, SureCash.

The firm’s flagship SureCash payment platform evolved in three stages— development, deployment, and growth, thus emerging as a leading brand that delivers trust, security and convenience to its customers. SureCash provides an easy-to-use option for its customers to make or receive payments by a few touches or key-strokes on their phones. For banks, the services are available for both banked and branchless customers – it provides an alternative delivery channel for existing branch customers, and enables acquiring new customers and low-cost deposit from areas outside the reach of bank branches. It also enables the payment partners –businesses, NGOs or government departments –to directly transact with their customers or beneficiaries with cash-in and cash-out support from a large network of retail agents.

The platform is known for its comprehensive mobile payment services for banks, merchants, payment partners, distribution channel, and customers. It is featured with open network architecture to ensure scalability and interoperability along with a superior payment security by using patented technology. Further, the platform integrates smart-phones and feature-phones with a complete solution for financial service providers that is suitable for bank-led, telco-led or hybrid business models.


SureCash provides industry’s best user experience for mobile financial services bridging smart-phones and feature phones


SureCash has adopted multi-dimensional security model to protect customers from possible threats and information attacks. Built on the foundation of data-encryption, maker-checker change process, and access audit trail, it employs a two-factor authentication for each transaction – the SIM or phone (something you have) and a password or PIN (something you know). “One key SureCash innovation for improved privacy and security is ‘mobile account alias’ option where the customers get a code for account number and do not have to reveal their phone numbers to the retailers, and this has been quite popular especially for young female customers,” says Dr. Khan. SureCash provides a cloud-based automated payment system to many educational institutes in Bangladesh free of charge, and since customers can make payments from the comfort of their homes or hostels, SureCash has become the premiere choice for students in Bangladesh for making fee payments and mobile recharge.

“SureCash has been investing heavily in key innovation areas such as user experience, enhanced security and payment interoperability,” added Dr. Khan. The platform uses a flexible software application programming interface (API) to connect merchants and payment partners with easy-to-use payment process for both smart-phone and feature-phone users. It provides an open payment network for banks and payment partners along with a business-business-customer expansion model to expedite customer growth and service usage.

Forging forward, SureCash is working on adding more and more payment products, services and partners to cover customers’ day-to-day transaction needs and become in inseparable part of their lifestyle. The company is also working on product enhancements such as international remittance experience, social network transactions and biometric disbursement. “We plan to expand our business in two ways - deploying our solution in other emerging or developed markets and connecting international remittance corridors with SureCash,” concludes Dr. Khan.