Visa has reported a significant shift toward digital payments in Bangladesh, with a 14 per cent increase in overall spending and a 17 per cent rise in transactions in 2024 compared to the previous year.
Online payments have driven this growth, while contactless transactions have doubled.
Domestic spending was primarily led by e-commerce, while international transactions saw strong growth in both online and in-store payments.
Cross-border spending was highest in India, the USA, the UK, Thailand, and the UAE, with Thailand witnessing a 20 per cent increase due to rising medical tourism.
Sabbir Ahmed, country manager for Bangladesh, Nepal, and Bhutan at Visa stated, 鈥極ur latest trends analysis signals Bangladesh鈥檚 rapid shift towards digital and contactless payments across credit and debit cards, online and in-store transactions.鈥�
Businesses have also embraced digital payments, with card-based spending rising by 50 per cent and business credit card transactions surging by 135 per cent. Dhaka remains the dominant hub for digital payments, contributing 75 per cent of total spending.
Key domestic spending areas include travel, healthcare, and discount stores, while cross-border payments were driven by education, B2B transactions, and food and grocery purchases.