Card transactions witness 228pc rise in 5 yrs

Business Desk :

Transactions through cards maintain a steady growth in Bangladesh, indicating a positive trend towards a more digitalized and cashless financial ecosystem.

Over the past five years, both the issuance of debit, credit and prepaid cards, as well as the transaction volume has increased significantly in the country, according to Bangladesh Bank (BB).

BB data shows that issuance of debit, credit and prepaid cards has risen by 140 per cent and the total transaction volume through cards has increased by 228 per cent over the past five-year period.

The number of debit cards issued grew by 113 per cent from 19.4 million in May 2020 to 41.51 million by April 2025.

Credit cards saw a 65 per cent increase, rising from 1.5 million to 2.5 million while prepaid cards experienced an extraordinary 1,283 per cent growth, surging from 0.55 million to 7.6 million during the same period, the central bank data reveals, reports BSS.

Talking to BSS, a senior official of Bangladesh Bank said over the past five years, Bangladesh has witnessed a remarkable transformation in its financial landscape, driven by the rapid expansion of card-based transactions.

The initiative by BB has been successful in promoting a cashless banking system and the continued growth in card usage indicates a positive trend towards a more digitally inclusive financial ecosystem in Bangladesh, he added.

To accelerate the adoption of electronic payment methods, he said, the government and Bangladesh Bank have implemented a series of targeted policy measures and regulatory reforms.
This strategic focus on digitization has yielded significant results, with card-based transactions experiencing exponential growth as businesses and consumers increasingly shift toward digital financial instruments, he added.

He said VISA credit cards were the most popular choice for both domestic and international transactions.