Consumers are opting for cashless payment this Eid

| Update:
April 24, 2022 5:42:51 p.m.

The end-of-year celebrations remained shrouded in uncertainty due to the covid-19 Pandemic in recent years.
Despite lingering concerns, the pandemic has painted a positive picture for the digital payment ecosystem over the past two years, with shoppers increasingly accepting cashless payment methods. The changes have changed not only what people buy and where they buy it, but also how they pay, and these payment habits are expected to continue.

Consumers are optimistic about a return to normal in 2022, while businesses see 2022 as the year to recover from the losses suffered in the previous two years.

Merchant payments fell by 9.33% in January 2022, according to BB data, experts believe this figure for to climb throughout the Eid season as the new consumer payment method signals that the country is gradually transitioning to a cashless society, especially in terms of shopping.

Moreover, payment companies are reacting to the new trend by offering their customers a wide range of offers. The number of customers in shopping malls has increased significantly in the center of Eid. Customers, on the other hand, are happy with the cash back and rebates offered by mobile financial services.

This Eid, mobile financial service provider Nagad’s ongoing campaign titled‘ ‘Utshob-er Khushi, Nagad-a Beshi wins the highest responses and popularity among consumers.

To help spur the country’s positive trend towards accepting digital payments, Nagad is offering up to 35% cashback and discounts on Eid purchases across all segments, including e-commerce, supermarkets, tours and travel, restaurants and lifestyle.

Rimon Ahmed is a consumer from Uttara Said. I chose to make all my purchases with Nagad Wallet because they offer great discounts and rewards to every merchant criteria that meets all my needs. By paying with Nagad, I was able to save about half of my shopping budget. “

Nagad has designed these discounts to meet all the shopping needs of customers during the holiday season. Customers who use Nagad to pay for electronics, for example, get an instant 20% discount. Customers in the fashion and footwear categories can earn up to 35% and 25% cashback, respectively. Outraged, Nahad also offers up to 50% savings for online purchases and a lot After.

Additionally, throughout the month of Ramadan Nagad has made these offers available at more than 4,000 outlets across the country. Some notable merchant partners of Nagad are electronics (Butterfly, Best Electronics, Ranks Electronics Limited, Transcom Electronics, etc.); Travel (Go Zayan, SS Holidays, etc.); lifestyle (Sailor, Artisan Outfitters Ltd, Cats Eye Ltd, Sara Lifestyle, Bata, Apex Footwear Limited, Lotto, etc.); grocery store (Shwapno, Unimart, Agora, Meena Baazar, Daily Shopping, etc.); e-commerce (Pikaboo, Priyoshop, Hungrynaki, etc.); Restaurant (KFC, Burger King, Chillox, DominoesChef’s Table, etc); appliances and furniture (Best Buy, Brother Furniture, Regal Emporium) and many more.

Meena Baazar, a merchant partner of Nagad, Touhidul Islam said: “We are getting positive responses from customers this Eid. Additionally, an increasing number of customers are paying with Nagad wallets. We appreciate Nagad’s cooperation and offering such great discounts for our customers. “

Sheikh Aminur Rahman, Marketing Director (CMO) from Nahad said, “Customers are rapidly embracing the digital mode of transaction, and to promote this positive trend, Nagad has designed this offer under the theme ‘Utshobuh Khushi, Nagad has Beshi. This Eid, we’re trying to make people’s lives a bit easier with these offers.

In addition, during Ramadan, Brac Bank offers discounts at more than 1,100 partner outlets. And bKash also offers cashback and discounts to make Eid shopping more reasonable for customers.

Although the government and the central bank have taken several steps to reduce the country’s dependence on paper money, analysts believe that incentives are needed to persuade consumers to use digital payment methods such as cards and mobile financial services (MFS) in order to achieve its goal of becoming a cashless society.

About Matthew R. Dailey

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