The latest report from Bangladesh Bank reveals the adverse effects of record inflation on credit card, point of sale (POS), and e-commerce transactions in the country. Comparing May to April, credit card transactions declined by 5.6%, POS transactions by 16.7%, and e-commerce transactions only increased by 1%. The decrease in credit card usage was primarily attributed to reduced spending caused by rising inflation, which has affected various sectors of the economy. Similarly, POS transactions witnessed a significant decline of Tk 500 crore, reflecting the impact of inflation on people’s purchasing power. However, e-commerce transactions experienced a slight increase of 1%, reaching Tk 1,270 crore in May. Internet banking transactions also saw growth, rising by 11.98% to Tk 4.99 lakh crore, as it remained a preferred method for fund transfers and payments. Overall, the report highlights the challenges posed by inflation to consumer spending and transactional activities in Bangladesh.
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