Bangladesh

A fast growing payments market led by mobile wallets and interoperable QR

Overview

Bangladesh’s payments ecosystem is accelerating through mobile financial services and government backed interoperability

Mobile wallets dominate everyday payments while card usage and e commerce continue to rise

Bangladesh Bank initiatives such as Bangla QR and the National Payment Switch are expanding digital acceptance and real time transfers

High adoption of mobile wallets for P2P and merchant payments

Rapid growth of QR payments in retail and transportation

E commerce expansion supported by local gateways and COD transitioning to digital

Young mobile first population driving digital onboarding and usage

Mobile wallets including bKash Nagad Rocket and Upay

Bank transfers via NPSB and instant rails supported by participating banks

Cards Visa, Mastercard and UnionPay for online and in store acceptance

Bangla QR for interoperable merchant payments across wallets and banks

Cash on delivery still present but declining in urban centers

bKash and Nagad as leading mobile wallet networks

Rocket by Dutch Bangla Bank and Upay broadening reach through agent networks

Major banks including BRAC Bank Dutch Bangla Bank and City Bank supporting cards and transfers

Local payment gateways such as SSLCOMMERZ serving merchants and marketplaces

Bangladesh Bank supervises the sector with licensing for PSPs and PSOs and standards for AML CFT and customer protection

Policies promote interoperability data security agent network governance and expansion of digital acceptance under national inclusion goals

Nationwide mobile wallet penetration with dense agent networks

Interoperable QR and switching infrastructure improving acceptance and reach

Supportive regulatory stance toward financial inclusion and digitization

Large youthful population fuelling digital commerce and remittances

Want to know more about payments in Bangladesh?

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