Cashfree Bangladesh: Closer than thought

FE Team | Published: December 09, 2025 19:59:29

Bangladesh's payment landscape is evolving rapidly as digital transactions become part of everyday life. For a long time, cash was the main form of payment, but the rise of mobile financial services (MFS) and online banking has shifted consumer habits. Today, millions of people use platforms like bKash, Nagad, Rocket, banking apps and card-based payments. This means that people don't have to rely on cash as much and opens the door to a cash free future.
A cash-free payment system refers to an ecosystem where most transactions are conducted through digital channels like mobile apps, cards, QR codes, or online gateways rather than physical cash. Such systems increase transparency, efficiency and financial inclusion while lowering the cost and risks associated with cash handling.
Bangladesh needs technological expansion and behavioural change of consumers in order to fully implement cashless payment system. Essential steps include making the internet more accessible, improving digital literacy and making sure that banks and MFS providers can all use the integrating interoperable payment gateways. Businesses must also be encouraged to adopt QR and card payment facilities.
A cashless economy is getting closer due to platforms like bKash, Nagad, Pathao Pay and regular credit and debit cards. Digital payments are easy to use and widely available, making them convenient for people in both urban and rural areas. The growth of online shopping and ride-sharing services has further accelerated this shift.
But there are still problems to solve. Cybersecurity threats, a lack of trust in digital systems, scams and uneven digital access between cities and villages can all slow progress. The government should invest in better data protection laws, campaigns to raise awareness across the country and better regulatory frameworks to solve these problems. To build trust, we need strong digital infrastructure and strict monitoring systems.
Hasibur Rahman
North South University