Amount of Mobile transactions drop by 27% in April

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According to a report by the central bank, the amount of mobile transactions has dropped by 27% in April. Compared to March, the transaction in April has decreased by more than Tk 10,000 crore.

The report also noted a gradual decrease in the total amount of transactions over the past few months.

At the start of the year, the transaction amount for this service was Tk 42,103 crore. In February, it was reduced to Tk 41 thousand 335 crores. In March, it was further reduced to Tk 39,065 crore and finally, in April, it was further reduced to Tk 29 thousand 29 crores.

According to experts, reliance on mobile financial service has increased over the past few months due to the pandemic. This is because the use of these services has been made compulsory in various fields including salaries of garment workers and government allowances. However, the aggregate amount of the transaction has decreased because the income level of the low earning population has reduced significantly who are the primary users of the service.

There are 15 institutions are providing mobile banking services in compliance with the rules and regulations of Bangladesh Bank. At present, BRAC Bank’s affiliate Bikash is at the forefront of this service. Then came the rocket of Dutch-Bangla Bank.

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