Post-COVID Digital Transactions in Bangladesh: Trends, Challenges, and the Future of Mobile Financial Services

Md. Shelim Miah ()
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Md. Shelim Miah: Southeast University

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Abstract: Mobile Financial Services (MFS) have revolutionized financial transactions in Bangladesh, offering convenience, accessibility, and efficiency. The COVID-19 pandemic significantly accelerated the adoption of MFS, highlighting its critical role in a cashless economy. This study examines consumer attitudes and behavioral intentions toward MFS adoption in Bangladesh, utilizing a quantitative research design with a structured survey of respondents aged 16 and above. Findings indicate that ease of use, convenience, and agent availability are key factors influencing MFS adoption. While gender differences in perception were noted, adoption was independent of age, income, education, or occupation. Challenges such as fraud, security concerns, and trust issues persist, necessitating improvements in service reliability, customer support, and digital literacy. To enhance user experience and expand adoption, the study recommends feature enhancements, user-friendly mobile applications, strategic agent deployment, and promotional incentives. Despite its rapid growth, the MFS sector in Bangladesh requires continuous innovation to ensure security, affordability, and seamless transactions for a financially inclusive future.

Keywords: Mobile Financial Services (MFS); Digital Payments; Cashless Economy; Consumer Behavior; Post-COVID Transactions; Financial Inclusion (search for similar items in EconPapers)
Date: 2024-12-31
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Published in Journal of Fareast International University, 2024, 7 (1), pp.42-48

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