• Monday, Dec 05, 2022
  • Last Update : 10:24 am

MFS clients drop 6.1% in April

  • Published at 02:33 pm June 8th, 2021
mobile pay
Bigstock

However, transactions through mobile financial services rose 6.4% to Tk63,478.85 crore in April

The numbers of registered mobile financial services (MFS) clients have dropped by 6.1% in April as two of the providers are bringing some changes to their services.

The number of registered clients of MFS operators stood at 96.5 million in April, down from 102.8 million a month earlier, as per the latest data from the Bangladesh Bank.


Also read - Increasing taxes on mobile financial service providers proposed


Bangladesh Bank Executive Director and spokesperson Md Serajul Islam said that recently, United Commercial Bank has changed the name of its MFS operator from U-Cash to U-Pay. 

“As a result, the old customers of the MFS provider dropped from the list but it will be updated soon,” he added.

The central bank spokesperson also said that MFS operator SureCash is bringing some changes to its services, which was another reason for the dropping trend of registered clients.

However, transactions through mobile financial services rose 6.4% to Tk63,478.85 crore in April, as per Bangladesh Bank data.

Daily average transactions through the MFS providers also rose 10% to Tk2,115.96 crore in that month.

The number of active MFS accounts stood at 36.75 million in April, up from 34.64 million a month ago.


Also read - Debapriya: Nagad went where white elephant banks could not


Central bank data showed that inward remittance through the platform rose 14.8% to Tk212.03 crore.

Cash-in transactions rose 3.7% but cash-out transactions fell 1.9%, while person-to-person transactions rose 9%. 

Salary disbursement through MFS rose 8.4%, utility bill payments rose 2.3%, merchant payments rose 41% and government payments rose 520.8% in April.

50
Facebook 50
blogger sharing button blogger
buffer sharing button buffer
diaspora sharing button diaspora
digg sharing button digg
douban sharing button douban
email sharing button email
evernote sharing button evernote
flipboard sharing button flipboard
pocket sharing button getpocket
github sharing button github
gmail sharing button gmail
googlebookmarks sharing button googlebookmarks
hackernews sharing button hackernews
instapaper sharing button instapaper
line sharing button line
linkedin sharing button linkedin
livejournal sharing button livejournal
mailru sharing button mailru
medium sharing button medium
meneame sharing button meneame
messenger sharing button messenger
odnoklassniki sharing button odnoklassniki
pinterest sharing button pinterest
print sharing button print
qzone sharing button qzone
reddit sharing button reddit
refind sharing button refind
renren sharing button renren
skype sharing button skype
snapchat sharing button snapchat
surfingbird sharing button surfingbird
telegram sharing button telegram
tumblr sharing button tumblr
twitter sharing button twitter
vk sharing button vk
wechat sharing button wechat
weibo sharing button weibo
whatsapp sharing button whatsapp
wordpress sharing button wordpress
xing sharing button xing
yahoomail sharing button yahoomail