Card transactions hit all-time high to BDT 48,590cr

Dhaka : ATM, POS, CRM and e-commerce transactions through cards increased 15 per cent month-on-month to BDT 48,590 crore in June, 2023, as per the latest data of Bangladesh Bank.

Transactions through debit cards rose by 16 per cent to BDT 45,384 crore at the same time.

Reports cited industry insiders saying they have witnessed a surge in spending in retail shops through debit cards. Eid had an impact on this spike.

They added, debit card transactions have increased in recent times.
On the other hand, spending through credit cards saw a slight drop.
Credit card transactions dropped by 0.34 per cent month-on-month in June 2023 to BDT 2,583 crore.

During Eid al-Adha, funds are primarily directed towards purchasing livestock for sacrifice, favouring cash transactions due to cultural practices, further mentioned industry stakeholders, adding that is why they did not see an increase in spending in shops through credit cards. 

However, in July, 2023, credit card spending increased substantially as many were travelling after Eid, noted insiders. 

Prepaid card spending stood at BDT 41 crore in June, up from BDT 35 crore in May.

Similarly, e-commerce transactions through cards increased by BDT 122 crore to BDT 1,391 crore in June, as per the central bank's data.
There are 3.21 crore debit cards, 22 lakh credit cards and 42 lakh prepaid cards issued so far, showed the central bank's data.