OK Wallet
OK Wallet is a mobile financial services app operated by ONE Bank Limited in Bangladesh, offering P2P transfers, utility bill payment, merchant QR, mobile recharge, government fee collection, and remittance via smartphone app and USSD (*269#) to consumers, merchants, educational institutions, and government billers nationwide.
- Company typePrivate
- Founded2018
- HeadquartersDhaka, Bangladesh
- Headcount1–10
- GTM typeB2C
- OfferingServices
What OK Wallet does
OK Wallet is a mobile financial services platform operated by ONE Bank Limited, a Bangladeshi private bank headquartered in Dhaka. Founded in 2018 and structured as a product brand rather than a standalone entity, the platform delivers cashless payment and money-movement services to individual consumers, small and medium merchants, educational institutions, and utility/government services payers across Bangladesh. Core functionality includes P2P and bank-account money transfer, mobile recharge, utility bill payment (electricity, gas, water, telephone), credit card bill payment, merchant QR payments, remittance receipt, government fee collection, insurance premium payment, tuition fee collection, and cash-in/cash-out via agents and bank branches.
The platform is delivered through a dual-channel architecture: a smartphone application distributed via Google Play, Apple App Store, and Huawei AppGallery, plus a USSD short-code (*269#) accessible on any feature phone without internet connectivity. Account opening uses e-KYC self-registration via live photo and NID capture. Underlying integration covers six partner banks (ONE Bank, BRAC Bank, Mutual Trust Bank, Pubali Bank, City Bank, JAMUNA Bank), major utility and telecom billers, government fee systems (e-Mutation, NID, BTEB, Class XI admission), and insurance partners (Bimafy, Guardian Life, Carnival Assure, Rupali Life). Notable product additions include a UnionPay virtual debit card issued via SSL Wireless — positioned as a first-in-country mobile-wallet debit card — and OK EMS, a dedicated tuition fee collection and institutional management solution.
OK Wallet generates revenue primarily through transaction-based take rates, ranging from 0.8% on ONE Bank account transfers (minimum Tk. 5) and 1% on JAMUNA Bank transfers and BPDB prepaid meter recharges (capped at Tk. 25) to 2% on Class XI admission fee collection. Bank-branch bill payments are offered without service charge. Distribution is product-led and hybrid, combining self-serve mobile app and USSD onboarding with ONE Bank's branch and agent network. Customer acquisition leverages the parent's existing bank relationships, while ecosystem expansion is driven by a broad set of technology, GTM, and strategic partnerships across fintech, insurance, travel, education, and government sectors.
OK Wallet firmographics
Firmographics- Name
- OK Wallet
- Legal name
- ONE Bank Limited
- Website
- https://okwallet.com.bd
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- OK Wallet is a mobile financial services app operated by ONE Bank Limited in Bangladesh, offering P2P transfers, utility bill payment, merchant QR, mobile recharge, government fee collection, and remittance via smartphone app and USSD (*269#) to consumers, merchants, educational institutions, and government billers nationwide.
- Ownership category
- akta.pro rank
OK Wallet industry classification
Industry- Product category
- Mobile Financial Services / Mobile Payments
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- General-Purpose Digital Wallets (P2P + Merchant) (FSAMAEAA)
- akta.pro secondary industry
- BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG)
Keywords
Where OK Wallet is headquartered
LocationHeadquarters
- HQ city
- Dhaka
- HQ country
- Bangladesh
- HQ region
- Asia
Offices1 record
Markets served
OK Wallet business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Infrastructure, Marketing or Sales, Personnel
Revenue model
- ONE Bank Account Fund Transfer: Transfer from OK Wallet to ONE Bank accounts incurs 0.8% charge with minimum Tk. 5.
- JAMUNA Bank Account Transfer: 1% charge applicable for money transfer service to JAMUNA Bank Account.
- Class XI Admission Fee Collection: 2% of the transaction amount for Class XI Admission Fee collection.
- BPDB Prepaid Bill Payment: 1% of transaction amount (maximum Tk. 25) for BPDB Prepaid Meter recharge service.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | ONE Bank Account Fund Transfer |
| Transaction based/ take rate | Pay-as-you-go | JAMUNA Bank Transfer |
| Transaction based/ take rate | Pay-as-you-go | Class XI Admission Fee |
| Transaction based/ take rate | Pay-as-you-go | BPDB Prepaid Bill Payment |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels4 records
OK Wallet product offering
Product offeringCore offering
OK Wallet is a mobile financial services platform operated by ONE Bank Limited that provides cashless and seamless digital payment services to consumers across Bangladesh. Its core offering includes money transfers (P2P and to multiple bank accounts), utility bill payments (electricity, gas, water, telephone), mobile recharge, merchant QR payments, insurance premium payment, tuition fee collection via OK EMS, remittance reception, government fee collection, and e-KYC-based instant account opening — accessible via both smartphone app and USSD (*269#).
Product overview
OK Wallet is a mobile financial services platform operated by ONE Bank Limited, offering a comprehensive suite of digital financial services accessible via mobile app and USSD channel (*269#). The platform functions as a unified ecosystem combining digital wallet, mobile banking, and bill payment services. Core offerings include money transfers (P2P and bank-to-wallet), utility bill payments (electricity, gas, water, telephone), credit card bill payments, merchant payments via QR code, mobile recharge, insurance premium payments, tuition fee collection (OK EMS), government fee collection, remittance services, and e-KYC account registration. The platform integrates with multiple banks (ONE Bank, BRAC Bank, Mutual Trust Bank, Pubali Bank, City Bank, JAMUNA Bank) for interoperability and offers a Union Pay Virtual Debit Card. OK Wallet serves both retail consumers and merchant segments, facilitating Bangladesh's transition toward a cashless society through partnerships with government entities and educational institutions.
Differentiator
Problem solved
Functional benefit
Products and services
- OK Wallet Mobile App Smartphone-based mobile financial services application enabling individual consumers and merchants across Bangladesh to perform money transfers, utility bill payments, mobile recharge, merchant QR payments, insurance premium payments, tuition fee payments and government fee payments.
- OK Wallet USSD Channel (*269#) USSD-based mobile banking service accessible by dialing *269#, providing core OK Wallet functions (cash-in, cash-out, money transfer, utility bill payment, mobile recharge) without requiring a smartphone or internet connection.
- Money Transfer Service allowing OK Wallet users to send money to other OK Wallet accounts or to bank accounts at ONE Bank, BRAC Bank, Mutual Trust Bank, Pubali Bank, City Bank, and JAMUNA Bank.
- Add Money Service allowing users to fund their OK Wallet account from ONE Bank accounts, VISA/MasterCard cards, internet banking, BRAC Bank, and Mutual Trust Bank.
- Utility Bill Payment Service enabling OK Wallet users to pay electricity bills (DPDC, DESCO, NESCO, WZPDCL, BPDB, Palli Bidyut/BREB), gas bills (Jalalabad, Bakhrabad, Pashchimanchal), water bills (Dhaka WASA, Khulna WASA, Rajshahi WASA) and telephone bills (BTCL).
- Credit Card Bill Payment Service enabling OK Wallet users to pay credit card bills (ONE Bank, AMEX/VISA/MasterCard, LankaBangla) and loan EMI payments (LankaBangla).
- Merchant Payment Service enabling consumers to make QR code and account-based payments at retail outlets, restaurants, e-commerce sites, electronics stores, travel agencies and other merchant categories.
- Mobile Recharge Service for recharging prepaid and postpaid mobile phone accounts of all major Bangladeshi telecom operators through the OK Wallet platform.
- Insurance Payment Service enabling OK Wallet users to pay insurance premiums to providers including Bimafy, Guardian Life Insurance, Carnival Assure Insurance, and Rupali Life Insurance.
- OK EMS (Education Management Solution) Tuition fee payment and operational management service for educational institutions, enabling digital collection of fees and centralized management of academic payment workflows.
- Remittance Service Service allowing OK Wallet users to receive international remittances directly into their wallet.
- e-KYC Registration Electronic KYC service enabling instant OK Wallet account opening through live photo capture and NID card verification on the mobile app, without needing to visit a bank branch.
- Government Fee Collection Service for paying various government fees including e-Mutation, ePorcha, land development tax, BTCL domain, vehicle fees for CCC, and NID corrections through OK Wallet.
- UnionPay Virtual Debit Card Virtual debit card issued in partnership with SSL Wireless and UnionPay, enabling OK Wallet users to access debit card features for online and offline purchases.
- OK Samriddhi Payroll Account Payroll management service enabling employers to disburse salaries to employees via OK Wallet accounts.
- Cash-out from MTB ATM Cash withdrawal service enabling OK Wallet users to withdraw cash from Mutual Trust Bank ATMs using their OK Wallet balance.
- Pathao Rider ATM Cash Out Cash-out service allowing OK Wallet users to withdraw cash from Pathao rider network points.
Companies that use OK Wallet
Customer profileNamed customers1 record
Segments4 records
Ideal customer profiles4 records
OK Wallet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
OK Wallet partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Pubali Bank PLCcoreONE Bank PLC and Pubali Bank PLC signed an agreement for fund transfer between ONE Bank's mobile banking app (OK Wallet) and Pubali Bank's internet banking app (PI). This partnership enables interoperability between the two banking platforms.
- Mutual Trust Bank LimitedcorePartnership agreement providing interoperability service between OK Wallet and Mutual Trust Bank account. OK Wallet customers enjoy add money facility from VISA, MasterCard and UnionPay cards through Mutual Trust Bank Payment Gateway. Customers can also avail cash withdrawal service from MTB ATM.
- SSL Wireless (Software Shop Limited)coreAgreement for introducing Virtual Debit Card in OK Wallet platform for the first time in the country. Through this agreement, OK Wallet customers are issued a Union Pay Virtual Debit Card to avail debit card features.
- ShareTrip LimitedminorPartnership to facilitate customers to purchase Air Ticket and book Hotels conveniently. OK Wallet customers can enjoy up to 10% discount on base fare for domestic & international flights and up to 70% discount on domestic hotels & resorts booking services.
- Flair Technologies LimitedminorPartnership to facilitate OK Wallet customers to purchase insurance packages of Bimafy including Motorcycle, Car, Travel, Accident, Health, Life insurances exclusively through OK Wallet App.
- National Housing AuthorityminorMoU for digitalization of payment collection and operational management of 'Bostibashi Bharabhittik 533 Abashik Flat Project' at Section-11, Mirpur, Dhaka. Flat tenant under this project can pay their monthly rent digitally.
- AcademiaminorAgreement for digitization of payment collection and operational management through OK EMS (Education Management Solution). Academia can manage all operational activities and students can pay all types of fees through OK Wallet.
Scale indicators1 record
Recent moves6 records
Expansion highlights6 records
OK Wallet competitors and assessment
Company assessmentDirect peers
- bKash: Largest mobile financial services platform in Bangladesh, offering P2P transfers, merchant payments, bill payments, mobile recharge, and agent-based cash-in/out — directly overlapping OK Wallet's core use cases against a much larger user and agent base.
- Nagad: Bangladesh Post Office-backed MFS providing P2P transfers, merchant payments, utility bill payments, government fee collection, and remittance — directly competing with OK Wallet in the same Bangladeshi market, with strong government integration.
- Rocket (Dutch-Bangla Bank): Dutch-Bangla Bank's mobile financial services platform — a bank-affiliated wallet with very similar structure to OK Wallet (parent-bank distribution, P2P transfers, merchant payments, bill pay), making it the closest structural comparable.
- Upay: Emerging Bangladeshi MFS targeting digital payments and merchant acceptance — competes head-on with OK Wallet for the same SMB and consumer segments in Bangladesh.
- mCash (Islami Bank): Islami Bank Bangladesh's mobile financial services wallet offering P2P transfers, merchant payments, and bill pay — another bank-affiliated MFS competing directly with OK Wallet's wallet/banking proposition.
- MyCash (United Commercial Bank): UCB's mobile banking wallet providing payments, transfers, and merchant services in Bangladesh — structurally similar to OK Wallet as a bank-led digital wallet competing for the same customers.
Regional players
- SureCash: Bangladesh-focused digital payment and bill payment platform offering merchant payments and bill aggregation — overlapping with OK Wallet's bill payment and merchant use cases, primarily within Bangladesh.
Broad incumbents
- Paytm: India's largest digital wallet and payments super-app offering P2P, merchant QR, bill payments, mobile recharge, and embedded lending — a much larger incumbent illustrating the trajectory and product breadth OK Wallet is moving toward.
Emerging players
- GCash: Philippines-based mobile wallet offering P2P transfers, bill pay, merchant QR, savings, and credit — an emerging-market comparable that demonstrates the digital wallet + embedded credit model OK Wallet is pursuing via CASHe/Dana partnerships.
Others
- bdtask: Bangladeshi fintech software provider delivering mobile wallet and MFS platform solutions to banks and operators — ecosystem-adjacent as a technology enabler that competes for the same digital wallet infrastructure opportunity as OK Wallet.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
OK Wallet social profiles
Digital presenceOK Wallet financial estimates
Financial estimateRevenue estimate
Valuation estimate
OK Wallet leadership team
Management profileNumber of profiles
OK Wallet funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OK Wallet M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OK Wallet
What does OK Wallet do?
OK Wallet is a mobile financial services platform operated by ONE Bank Limited that provides cashless and seamless digital payment services to consumers across Bangladesh. Its core offering includes money transfers (P2P and to multiple bank accounts), utility bill payments (electricity, gas, water, telephone), mobile recharge, merchant QR payments, insurance premium payment, tuition fee collection via OK EMS, remittance reception, government fee collection, and e-KYC-based instant account opening — accessible via both smartphone app and USSD (*269#).
Is OK Wallet a public or private company?
OK Wallet is a private company. It is classified as corporate owned and is currently operating.
When was OK Wallet founded?
OK Wallet was founded in 2018. It employs 1 to 10 people.
Where is OK Wallet based?
OK Wallet is headquartered in Dhaka, Bangladesh, in the Asia region.
How does OK Wallet make money?
Four revenue lines are on record. ONE Bank Account Fund Transfer is the primary driver. The others are JAMUNA Bank Account Transfer, class XI Admission Fee Collection and BPDB Prepaid Bill Payment.
Who are OK Wallet's main competitors?
Direct peers on record are bKash, Nagad, Rocket (Dutch-Bangla Bank), Upay, mCash (Islami Bank) and MyCash (United Commercial Bank). SureCash is listed as a regional player. Paytm is listed as a broad incumbent. GCash is listed as an emerging player. bdtask is listed as an others.
Does OK Wallet have an API?
No public API is recorded for OK Wallet.
What industry is OK Wallet in?
OK Wallet's product category is Mobile Financial Services / Mobile Payments. Its primary akta.pro industry code is FSAMAEAA, General-Purpose Digital Wallets (P2P + Merchant), with a secondary code of FSAGAIAG, BNPL Consumer Apps & Wallets (Discovery, Management). Its NAICS code is 5221 and its SIC code is 6199.