Incentivise retailers, buyers to popularise cashless payment

Stakeholders suggest at workshop

FE REPORT | Published: March 23, 2024 22:29:43

Many stakeholders lag behind the country's target to execute 30 per cent of total financial transactions through digital platforms by 2025, speakers said at a workshop on Saturday, suggesting the need for incentivising retailers and buyers for using the digital platforms.
They also suggested imposing a charge on cash transactions, making the apps more user friendly, ensuring better interoperability among the banks and better coordination among all public and private stakeholders.
They came up with the observations at a workshop on 'Way forward to increase cashless payment for a smart Bangladesh', organised by the Bangladesh Association of Software & Information Services (BASIS) at its headquarters in the city's Karwan Bazar area, according to a statement.
Md. Mezbaul Haque, Executive Director of Bangladesh Bank, was present as the Chief Guest, and Md. Motasem Billah, Director of Payment Systems Department, was present as the Guest of Honour while Shah Ziaul Hoque, Additional Director, Payment Systems Department, presented the keynote paper at the workshop.
BASIS President Russell T. Ahmed was also present at the workshop.
AKM Fahim Mashroor, Chairman, BASIS Standing Committee on Fintech and Digital Payment, presided over the workshop and Syed Mohammad Kamal, Director of BASIS and Country Manager MasterCard, moderated the event.
Speaking on the occasion Mr Mezbaul Haque requested the banks and fintech companies to help achieve the government's target of cashless Bangladesh.
In this case, he assured that Bangladesh Bank will provide all kinds of policy support.
Participants of the workshop made a number of recommendations to increase cashless payment.
The said the banks and fintech companies need to come forward together to create public awareness to popularize cashless payment methods, as well as the lenders should decentralise their operations to the grassroots level.
Each bank needs to launch a mobile app for its customers to popularise Bangla QR payment and the apps should be made easier for the users.
saif.febd@gmail.com