Merchant payment occurs when a client pays kiosks or grocery store owners through mobile financial services (MFS) to buy products or services from them. He urged operators and regulators to make it easy for one to avail a merchant account so that everyone could get involved in cashless transactions. On top of that, consumers’ habituation and fondness for digital and cashless transactions have also been pushing mobile transactions up. On the other hand, service providers such as hospitals and broadband internet service providers are also using cashless transactions to receive payment from clients. Meanwhile, total transactions through mobile financial services in the country stood at Tk62,999 crore in July, up by 40.5% compared to Tk44,831 crore in June this year.

Source: Dhaka Tribune September 05, 2020 15:22 UTC