People nowadays prefer cashless mode of payments rather than the conventional one on account of coronavirus fanning out.
Mobile financial services (MFS) transactions in Bangladesh rose 5.4 per cent year-on-year to Tk 66,387 crore in July.
Transactions amounted to Tk 63,000 crore in the same month a year ago and Tk 62,993 crore in June this year, according to the Bangladesh Bank.
The remittance entered in the country through MFS providers increased 67 per cent year-on-year to Tk 282 crore in July.
Salary disbursement stood at Tk 3,403 crore, down from Tk 4,586 crore a year ago, while users paid utility bills worth Tk 992 crore, against Tk 878 crore in July last year.
The bills paid through the system for shopping jumped thrice to Tk 3,096 crore from Tk 1,134 crore.
On the other hand, the government payment through the channel declined to Tk 541 crore in July compared to Tk 1,076 crore in the same month in 2020.
The number of registered mobile banking accounts stood at 10.27 crore at the end of July, while active accounts numbered 4.12 crore.
There are 15 banks that operate MFS services in Bangladesh. Bkash, Nagad, Rocket, Ucash are the most significant among them all.
Source: The Daily Star