MasterCard Sees Bangladesh Electronic Payments Growing 20-Fold
This article is for subscribers only.
Electronic payments in Bangladesh may increase 20-fold over the next five years as mobile-phone transactions increase and the government pulls citizens into the formal financial system, MasterCard Inc. said.
The annual value of electronic payments may jump to $10 billion from $500 million today, T.V. Seshadri, group executive for global products and solutions for Asia-Pacific, the Middle East and Africa, said in an interview on Bloomberg Television today. The country has 100 million mobile-phone subscriptions, compared with 5 million payment cards, he said.