The catastrophic worldwide Covid-19 pandemic has transformed digitalisation globally. With the rise of social distancing, sectors such as finance, education, government institutions, communications, healthcare and other areas do not have any choice but to embrace digital technology as a normal mode transaction process in the marketing system.
Bangladesh, like other developing nations, has to accelerate the ongoing digital transformation by uplifting the process of cashless transactions ahead of the forthcoming Eid festivals. Financial activities like shopping, food delivery and ride-hailing gain momentum during each festive season, according to online trading houses. With an increasing number of digital transactions replacing cash in the economy, bKash is reportedly building a future –ready platform — a secured and cashless digital payment ecosystem for millions of customers.
Grocery chains, lifestyle stores, restaurants and hotels have joined hands with banks to offer discounts, cashback facilities, and many promotional offers through their digital platforms. “This year over 70 per cent of my Eid shopping will be cashless. Besides this, there are currently many discount offers for cashless purchases that encourage the use of cards”, commented a city resident.
Major financial institutions such as MasterCard, City Bank, Dhaka Bank and Standard Chartered Bank have launched many promotional campaigns to uplift cashless transactions. MasterCard is expecting a heightened use of digital payments as this is the first Eid in a long time that will be celebrated without Covid-19 restrictions. Standard Chartered Bank Bangladesh is providing BOGO offers for its debit and credit cardholders at dozens of top hotels in Dhaka during Ramzan, when Sehri offers are also available. The bank’s cardholders are offered discounts on purchases for lifestyle products, air tickets, and resort bookings. City Bank has also been observing a growing trend in card transactions compared to previous years. bKash, the country’s largest MFS provider, rolled out various offers on the occasion of Ramzan and Pohela Boishakh.
In view of the cashless purchases now picking up before Eid, various units of digital organisations, will continue to further develop their endeavours and help Bangladesh rise to the occasion in the greater horizon of the society.
