Tuesday, 15th June, 2021
Tuesday, 15th June, 2021
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63 lakh customers missing from mobile banking services!

Following the introduction of mobile financial services (MFS), the number of customers has been increasing continuously in the country.

However, the number of registered MFS customers dropped by 63,20,000 in April this year than the previous month of April.

At present, 15 approved financial service providers have been providing the MFS services to customers in Bangladesh.

At the end April, the number of customers registered with the mobile banking services was 9,64,76,000. In the preceding month of March, the number of customers registered with the mobile banking services was 10,27,96,000. It means that the number of customers registered with the mobile banking services declined by 63,20,000 in just one month, said sources at the Bangladesh Bank.

The sources said customers of several banks have fallen due to the closure of Surecash service.

Besides, a new mobile banking service, dubbed ‘Upay’ has been introduced closing the Ucash service. Information about the ‘Ucash’ customers who have been shifted to ‘Upay’ has not been received.

The number of customers registered with the mobile banking services may have declined because of these reasons, said Bangladesh Bank executive director Sirajul Islam who is also the spokesman of the central bank.

“But, the decline of a large number of registered customers is very unusual. We are trying to look into the matter,” he said.

Sirajul Islam said the United Commercial bank Limited (UCBL) used to provide mobile financial services under the name of ‘Ucash’. It didn not included data of those customers who were shifted to the UCBL’s new service ‘Upay.’ Because of it, the number of customers registered with the mobile banking services has declined. Once the data of the ‘Ucash’ customers are included in the system, the number of customers will increase.

Though the number of customers dropped in April, the number of active customers increased in that month. In April 2021, the number of active MFS customers stood at 3,67,49,000 increasing by 6.1 per cent than the previous month of March 2021. The number of mobile banking agents also reached 10,61,780.

Besides, transactions in April 2021 also increased in April compared to the preceding month of March 2021. During the month of April 2021, the MFS witnessed transactions of Tk 63 thousand 478 crore 85 lakh, or Tk 2,116 crore on an average per day.

However, information about transactions through ‘Nagad’, the MFS of the Bangladesh Postal Department, is not available with the Bangladesh Bank.

In a report, the Bangladesh Bank says that the collection of remittance through MFS increased by 15 per cent or Tk 212 crore in April 2021. The amount of money transferred from person-to-person stood at Tk 19,034 crore. The salaries and allowances distributed by different organisations amounted to Tk 2,405 crore, while utility bills worth Tk 962 crore were paid.

Moreover, customers paid Tk 2,758 crore for shopping or payment of goods.

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