Jan 6, (V7N)– Bangladesh's digital banking sector has seen a significant rise in transactions, driven by the increased availability of Automated Teller Machines (ATMs), Points of Sale (POS) terminals, and Cash Recycling Machines (CRMs) in both urban and rural areas.

Following the challenges posed by the July-August uprising of 2024, there has been a steady rebound, with transactions through ATMs, POS systems, CRMs, and e-commerce showing consistent growth. According to data from Bangladesh Bank (BB), the number of ATMs in the country reached 13,021 by October 2024, a slight increase from 13,016 in the previous month.

ATM transaction volume for October surged to over Tk 212.50 billion, a 4.86% increase from the previous month’s total of Tk 202.66 billion. Rural areas saw significant growth, with 3,896 ATM booths—almost 30% of the total national network.

Transactions through Cash Recycling Machines (CRM), which offer convenient options for instant money deposit, withdrawal, and transfers, also rose by 11.80%, reaching Tk 147.25 billion in October, up from Tk 131.71 billion in September.

Similarly, POS transactions, which allow customers to use debit or credit cards for purchases, increased to Tk 31.86 billion, reflecting a growth from September's Tk 29.64 billion. E-commerce transactions saw a rise as well, reaching Tk 19.73 billion, up from Tk 18.68 billion the previous month.

Total digital transactions through ATM, POS, CRM, and e-commerce amounted to Tk 411.35 billion in October 2024, compared to Tk 382.70 billion in September.

However, there was a slight decrease in the number of Cash Deposit Machines (CDMs), with the number falling to 204 from 214 in the previous month.

Abdul Quaium Chowdhury, Deputy Managing Director of Premier Bank PLC, highlighted the country’s shift towards digital finance, noting the growing adoption of mobile financial services and digital banking. He added, "The Premier Bank is committed to fostering financial inclusion and driving the transition toward a digitally enabled economy in Bangladesh."

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