E-payment in Bangladesh: Challenges and Opportunities
DOI:
https://doi.org/10.58812/wsshs.v3i11.2420Keywords:
E-Payment, Mobile Banking, Debit-Credit Card, Regulatory Commission, BangladeshAbstract
The purpose of this project is to examine the opportunities and barriers of the E-payment system in Bangladesh. Now a day’s world changed to the digital world and also Bangladesh tries to step towards Vision 2041. E-payment is a method in which a person can make online payments for their purchase of goods and services without the physical transfer of cash and cheques, irrespective of location and time. In the present scenario, this study aimed to identify “Opportunities and Barriers of E-payment in Bangladesh” differ on different generations using the quantitative method and offer some solutions to improve the e-payment system. Qualitative research is the main methodology in this project with face-to-face interviews and semi-structured questionnaire methods. Data of survey was collected from a total of 50 participants who include undergraduate and postgraduate college students by conducting a series of semi-structured face-to-face interviews and questionnaire methods. Out of 50 respondents were found to be fully completed and satisfactory for analysis. The study also found that people who are using and are likely to use e- payment preferred debit cards, e-wallet as the first mode of payment than credit cards. This study suggests that the government of Bangladesh should set up a Regulatory Commission on an urgent basis to strengthen the e-payment system.
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