Bangladesh Bank’s payment system report shows that about 72 percent of everyday transactions in the country were still made in cash and that finding has led banks, fintech companies and traders to seek realistic ways to increase digital use. Cash is familiar, fast and lets people pay without a phone or a bank card so many shoppers and small shop owners prefer it for daily purchases. A large informal economy means many sellers do not have the official papers or bank accounts required to accept cards or mobile wallets and that keeps small traders offline. Street vendors, rickshaw drivers and neighborhood shops often handle many small payments that digital systems find hard to serve at low cost. Banks, mobile money firms and business groups say they see both a challenge and an opportunity to design simple, low cost ways for small merchants to accept electronic payments. Experts at recent meetings urged steps that include easier account opening, lower merchant fees and simple tools that work on basic phones and slow internet connections. Building more agent networks in local markets and improving point of sale options with QR codes can let merchants take digital payments without complex hardware. Training and clear customer help will also matter because many users avoid digital options when they do not understand how charges, refunds or disputes work. Policymakers and firms plan pilot programs to test how to bring small traders into formal systems while protecting consumers and keeping costs low. Interoperable systems that let money move between different banks and wallets can make payments smoother and encourage more people to try digital tools. Financial literacy drives that show merchants and buyers simple benefits like lower risk of theft and easier record keeping can build trust over time. In rural areas, tailored programs for women entrepreneurs and micro sellers can widen access and boost local incomes without pushing complex rules. Lowering the cost of small transfers, offering faster settlement to merchants and giving tax or fee incentives for early adopters can speed take up. Mobile wallets and agent banking have already shown steady growth, proving that many users will switch when services match their needs and are easy to use. Private firms and public regulators say they will measure progress with small targets and reports to keep the effort on track and accountable. Small, steady changes that focus on convenience and trust are more likely to work than large top down mandates that ignore the daily needs of traders. The goal is not to ban cash but to give people useful alternatives that reduce risk, lower cost and help small firms grow. With clear steps and patient effort, stakeholders believe cash use can fall while more people gain access to safer and cheaper payment choices. That change could boost small business sales, help families manage money better and make it easier for services and subsidies to reach the people who need them most. Practical pilots, continued dialogue and simple incentives can help turn the report’s findings into real improvements for markets, shops and households across the country.
