The city’s streets, shopping malls, and supermarkets were adorned with dazzling lights. Artificial moons and stars sparkled, while the vibrant red and blue lights of the markets added to the festive atmosphere. Even before Eid, the celebratory mood had already taken over the capital.
People of all ages—children, women, young adults, and the elderly—flocked to shopping centers to dress themselves in new outfits. The excitement of shopping was further heightened by various offers on digital payments. As a result, digital transactions in upscale shopping malls increased by up to 80% compared to the previous year.
For Eid-ul-Fitr, buyers opted for card payments and mobile financial services (MFS) for their purchases.
Officials from various brands, fashion houses, and banks stated that nearly 60–80% of transactions in elite shopping malls and branded stores are now cashless, compared to just 40% last year.
According to officials, the rise in cashless transactions is driven by the convenience and security of digital payments, as well as discounts and offers from banks and MFS providers. They noted that cashless transactions have significantly increased since the COVID-19 pandemic.
According to Bangladesh Bank data, in July, the first month of 2023-2024 fiscal year, ATM, POS, CRM, and e-commerce transactions totaled Tk 40,839 crore. By January, this had risen to Tk 43,594 crore.
On the other hand, the total transaction through MFS in July(last year) was Tk 122,923 crore. Over seven months, this figure surged by 39.65%, reaching Tk 171,664 crore.
Banks are now offering discounts of up to 70–80% on Eid shopping, including clothing, footwear, and jewelry, when paid with credit cards.
Additionally, discounts on iftar throughout Ramadan, along with "Buy One, Get One" offers and other Eid gifts, have further driven digital transactions to double.
Faisal Ahmed, a cashier at Infinity, Richman, and Lubnan showrooms on Bailey Road, said, “Most customers have paid via cards. Some went with Bkash while others used Nagad. Cash payments were minimal. More than 80% customers have made digital payments”
Courtesi: Kaler Kantha
(Translated and edited by Rafid)
