Digital transactions are gradually increasing in the country. Of these transactions, mobile transactions are the most advanced in the trend of growth. At the end of last July, the number of registered mobile financial services or MFS accounts stood at 18 crore 11 lakh. ATM card customers crossed the milestone of 4.5 crores. Among them, there were 19 lakh 41 thousand credit card customers. At the end of September, the number of debit cards in the country stood at 2 crore 42 lakh 25 thousand 164.
According to the data of Bangladesh Bank, the number of credit cards at the end of 2021 was 18 lakh 74 thousand 362. In January it slightly increased to 18 lakh 88 thousand 923. On the other hand, at the end of 2021, there were 2 crore 52 lakh 85 thousand 859 debit cards. In January of this year, it increased to 2 crore 55 lakh 74 thousand 668.
That is, the number of credit card users increased by 52 thousand 77 in six months, but the number of debit cards decreased by 13 lakh 49 thousand 4 in the last 8 months.
However, the number of mobile banking account holders is increasing. Out of the total mobile financial transactions (MFS) in the country, there are 10.7 crore rural and 8.4 crore urban customers. 15 lakh 26 thousand agents are associated with serving these customers. However, Bangladesh Bank’s statistics do not account for how many people are using the service. However, active users are estimated to be less than half. Still, in a country of 120 million adult citizens, this number is not too low. According to the data received, the villages are ahead in mobile banking than the cities.
According to the central bank officials, the number of MFS accounts is higher than the total population of the country due to various reasons including the increase in the trend of receiving financial services using mobile phones, the opportunity to open multiple accounts by the same person.
Those concerned informed that at the end of last June, there were 17 crore 86 lakh MFS accounts in the country. And at the end of July last year, the number of these accounts was 15 crore 60 lakh. At present 16 MFS institutions including bKash, Nagad, Rocket are in operation. This means, one can open a maximum of 16 MFS accounts. Out of this only Nagad is running under postal department. The rest are being operated under Bangladesh Bank.
According to the data of Bangladesh Bank, a total of Taka 89 thousand 169 crore was transacted through MFS institutions in July. Compared to the previous month of June, which is 5 thousand 124 crores or 5.75 percent less. However, compared to the same month of the previous year, MFS transactions increased by Taka 11,524 crore or 14.84 percent more.
Last July, cash in was 25 thousand 780 crore taka and cash out was 26 thousand 254 crore taka. Person to person transactions were 24 thousand 435 crore, business payments 2 thousand 949 crore taka. From the government to individuals 869 crore taka, payment of salaries 3 thousand 187 crore taka, purchase of talk time 879 crore taka and utility bills of 1 thousand 860 crore taka.
It may be noted that, the report of Bangladesh Bank shows that the number of debit cards and transactions have increased throughout the year 2021. In January of that year, there were 2 crore 16 lakh 70 thousand 526 cards in use. The amount of transactions on these cards was 18 thousand 870 crore taka. At the end of March, the number of cards increased to 2 crore 24 lakh 49 thousand 847. The transaction also increased to 22 thousand crore taka. Three months later, at the end of June, the use of debit cards increased. At that time there were 2 crore 33 lakh 63 thousand 702 cards. 21 thousand 698 crore Taka was transacted on these cards. At the end of September, card transactions and usage increased. At that time, the number of cards stood at 2 crore 42 lakh 25 thousand 164; transactions were 22 thousand 522 crore taka. At the end of December, the number of cards increased to 2 crore 52 lakh 85 thousand 859. The transaction was 24 thousand 357 crore taka.