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Cashless Bangladesh Overview 2023-27

This presentation discusses Cashless Bangladesh, an initiative by Bangladesh Bank to create a universal QR code-based cashless payment system. It provides context by noting some countries that are largely cashless, and predicts more countries will transition that way by 2026. The presentation outlines benefits of Cashless Bangladesh such as reduced crime and money laundering, improved spending data insights, and easier international transfers. It also notes potential limitations like data breaches, technical issues, and difficulty for older generations. The conclusion calls for collaboration to accelerate grassroots adoption of this electronic payment system to support Bangladesh's growing digital economy.

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Na Omar Faruk
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100 views11 pages

Cashless Bangladesh Overview 2023-27

This presentation discusses Cashless Bangladesh, an initiative by Bangladesh Bank to create a universal QR code-based cashless payment system. It provides context by noting some countries that are largely cashless, and predicts more countries will transition that way by 2026. The presentation outlines benefits of Cashless Bangladesh such as reduced crime and money laundering, improved spending data insights, and easier international transfers. It also notes potential limitations like data breaches, technical issues, and difficulty for older generations. The conclusion calls for collaboration to accelerate grassroots adoption of this electronic payment system to support Bangladesh's growing digital economy.

Uploaded by

Na Omar Faruk
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Click to edit Master title style

Welcome to my
Presentation

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Shohan Sheikh
Id: 21030103

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Cashless Bangladesh 2023-27

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Click to
What edit Master
is Cashless title style
Bangladesh?

• It is a quick response or QR code-based


universal payment system developed by
Bangladesh Bank. It started with an initial
engagement of 1,200 merchants, including street
vendors.
• There are some countries in the world that are
cashless and they are; Sweden, Finland, China,
South Korea, United Kingdom, Australia,
Netherlands, and Canada. In “Cashless
Bangladesh financial transactions will be
executed digitally, without physical banknotes
changing hands.

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Futute Cashless Countries
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• More people are using debit cards, bank transfers,


and cryptocurrency to pay for goods than ever
before. In 2021 alone, there were $989 billion of
non-cash transactions, while future estimates
predict that $2 trillion of cashless payments will
take place every year by 2026.
• These countries are likely to continue moving in
the direction of reducing cash usage:
Sweden, Finland, China, South Korea, United
Kingdom, Australia, Netherlands, Canada

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“Cashless Bangladesh” Impact in
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Bangladesh’s Economy:-
• “ Cashless Bangladesh” will enable the
government to increase consumer spending and
curtail the existence of black money. It will also
reduce costs connected to paper-based
transactions, leading to lower operating costs
and achieving economies of scale.
• “Cashless Bangladesh will foster the number of
foreign investments of foreign investors, and
businessmen, because “Cashless Bangladesh”
means there will be no paper-based hand note
but there will be “Digital Electronic Note”
anyone can from any country of the world
transfer

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Click to of
Benefits edit MasterBangladesh
Cashless title style

1. It will foster lower crime rates be cause there will be no tangible


money for them to steal or rob.
2. Money laundering and tax evasions will be reduced.
3. By collecting extensive data through digital transactions, consumers
can use behavioral insights to manage their spending habits.
4. The risk of handling, storing and depositing cash will be eliminated.
5. Cashless transactions will hinder the generation of black money.
6. It will facilitate easier currency exchange while travelling abroad.
Because there will be no need to figure out currency exchange rates
as technolgy will help us.

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Limitations title
Cashless style
Bangladesh

• Private data may be exposed to breach of security.


• Technieal issues can hinder access to money.
• Older generation may not be comfortable with digital payments.
• Difficulty in managing finances.
• Over head fees might be charged at fimes.

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Conclusion

Now a strong collaboration is required among banks, mobile operators, and payment service
providers to give momentum to the cashless Bangladesh, which will be a big move towards “Smart
Bangladesh”. The electronic payment mode has an important role to play in making the economy
vibrant as it encourages people to engage in economic activities. Our people are very enthusiastic
about using digital services. This is high time to accelerate the QR-based transaction at the
grassroots level.
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Reference:

• www.thedailystar.net (“Cashless Bangladesh gets a boost”


published on March 24,2023, Friday.)
• www.xpressmoney.com (“The Pros and Cons of a Cashless
Society”, published on 7th November, 2019)

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Thank You

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