MFS transactions rebound to Tk1.51tr in August

Business Desk :

After several months of slowdown, mobile financial service (MFS) transactions in Bangladesh picked up again in August, showing signs of recovery in digital payment activities across the country.

According to the latest data from Bangladesh Bank, total MFS transactions rose to Tk1.51 trillion in August, up from Tk1.48 trillion in July and Tk1.46 trillion in June.

The growth marks a steady rebound after several months of weaker performance.

However, inward remittances through MFS channels slightly declined to Tk16.63 billion in August, compared to Tk16.64 billion in July indicating a nearly flat trend in money transfers from migrant workers’ families.

Central bank data show that total MFS transactions had fallen sharply in April to Tk1.25 trillion, from Tk1.78 trillion in March, due mainly to a temporary data-reporting gap at Nagad, one of the largest MFS operators.

Bangladesh Bank later confirmed that Nagad had been unable to submit its data at that time because of technical issues.

Despite this, MFS-based remittance inflows have remained stable throughout the year, showing resilience even amid fluctuations.

Industry insiders said the August rebound signals a recovery in consumer demand and growing trust in digital payments.

“The uptick in August indicates sustained consumer confidence in mobile financial channels,” said an MFS industry executive.

As of August 2025, Bangladesh had 146.46 million registered MFS accounts, up from 145.64 million in June.

Of these, 69.87 million are in urban areas and 76.60 million in rural regions, reflecting the wide reach of digital financial services.

Major platforms such as bKash, Rocket, Upay, and Nagad continue to dominate the market, facilitating everything from salary payments and bill payments to merchant transactions and remittance disbursements.