Digitising Bangladesh's financial landscape

Digital transactions of money have been playing a critical role in the economy of Bangladesh. By ensuring safety and promptness, mobile financial services such as bKash, Rocket, Upay and Nagad have made common people's life faster, easier and smoother than before. Digital wallets and mobile banking are also essential tools that give millions of Bangladeshis unprecedented access to financial services.
Because of smartphones' availability, our financial behaviour has been radically changing with the widespread acceptance of digital payment methods, making room for greater financial inclusion. The National Payment Switch Bangladesh (NPSB) and a national push for a cashless economy are two examples of the government's initiatives that provide a strong basis for a secure digital payment infrastructure. Through the provision of easily available financial services, these strategic initiatives not only promote economic growth but also alleviate financial disparities. Companies quickly adjust by incorporating digital payment options to reduce transaction costs and streamline processes. This digital payment revolution is driving Bangladesh's economy towards a more connected, inclusive and technologically sophisticated future.

Farisa Tazree Ahmed,
Bachelor of Business Administration,
North South University, Dhaka,
[email protected]