Cashless shopping riding on MFS’ Eid offers

Cashless transactions during Eid shopping have become popular among shoppers in recent years as the country’s mobile financial service (MFS) operators offer different types of discounts and cashback deals on the digital payment method.

Shoppers, especially the young generation, prefer cashless payments to do their festival purchases, which mostly include lifestyle items and electronics, as the system provides better convenience on top of the offers from MFS providers.

Shafiq Majhar, the owner of an IT farm in Dhaka’s Mohakhali, said he has been doing his Eid shopping using MFS apps because of transaction convenience and they help him keep track of his money easily.

“During the past few Eids, I did most of my shopping using MFS accounts. I feel comfortable with MFS because I get to know the limit of my credits. This year, I think over 80 per cent of shopping will be done through my bKash and Rocket accounts,” he said.

“I have most of the MFS accounts and credits, as they offer various discount and cashback deals.

“I will use the MFS account that will give me the best and most convenient transaction facilities during Eid shopping by avoiding traffic jams and excessive rush,” Majhar said.

“Making cashless purchases is smarter indeed,” he added.

Flood of MFS offers

Muhammad Zahidul Islam, head of Public Communications at Nagad Limited, said that they have a plethora of exciting offers for Eid shoppers lined up to boost cashless transactions via Nagad.

“What will be very exciting is that our customers will have a chance to win a BMW car on Eid shopping using Nagad wallets. This is the first time in the country that such a mega prize will be up for the grab for MFS users,” Zahidul said.

“A few other exciting offers will also be live for our customers from the first day of the holy month of Ramadan, including gifting motorcycles and smartphones besides cashback and discounts on Nagad payments for Eid shopping across the country,” he said.

Ahead of every Eid, people keep their trust in Nagad when it comes to financial transactions, thanks to the cost-efficient services they offer. Be it sending money to family members in village homes or Eid gifts, Nagad is one of the first choices for all, especially limited-income people. And that also helps to increase its overall transaction, he said.

With digital transactions increasingly replacing cash in the economy, bKash is building a future-ready platform -- a secured and cashless digital payment ecosystem for millions of customers.

During Ramadan and Eid festivals, financial activities substantially rise as people spend extra on buying groceries, food items and Eid shopping, which includes clothing, shoes, home appliances, electronic gadgets, furniture, home decor, and many more.

Keeping the increased flow of money in the economy in mind, bKash acts as a vibrant support system for the financial transactions of the people.

To further facilitate transactions during festivals, bKash, the largest MFS in the country, always comes up with different offers like cashback and discount coupons on payments at different brand shops, superstores, clothing outlets, shoe stores, online marketplace, Facebook pages, etc.

To make customers’ Eid shopping more colourful, convenient, and cost-effective, this time around, bKash brought various segment-based offers.

According to bKash, customers can enjoy up to Tk 200 instant cashback this Eid from selected Facebook shops with bKash payment and get a 5 per cent cashback from selected Facebook shops with bKash payment.

Customers can enjoy a cashback of up to Tk 100 per day and a total of Tk 200 during the campaign. This offer can be availed across selected shops.

Customers can also enjoy up to Tk 300 instant cashback from selected online shops with bKash payment.

One can get up to 20 per cent instant cashback at selected online shops with bKash payment. Customers will get a maximum of Tk 150 cashback per day and a total of Tk 300 during the campaign.

During this Eid, customers can get up to a total of Tk 600 discount coupons on purchasing clothes and shoes with bKash payment. Tk 200 coupons can be redeemed and received at selected shops nationwide.

Customers can get up to Tk 500 discount coupons on Ramadan grocery shopping with bKash.

Anyone can enjoy a coupon of Tk 100 every time with a minimum payment of Tk 1,000 on grocery shopping from specific superstores. This offer is valid on Thursday, Friday and Saturday only during the campaign.

Moreover, customers can enjoy up to Tk 100 instant cashback from selected online grocery stores with bKash payment and 2.5 per cent and 5 per cent cashback at selected online grocery shops. The instant cashback is up to Tk 100 during the campaign period.

Customers can get up to Tk 300 cashback on purchasing any accessory from specific outlets with bKash payments. Cashback of up to Tk 150 per day and a maximum of Tk 300 can be availed throughout the campaign.

Shoppers can get up to Tk 300 cashback on purchasing any footwear items from specific outlets with bKash payments. Cashback of up to Tk 150 per day and a maximum of Tk 300 can be availed throughout the campaign.

Customers can get up to Tk 300 instant cashback on purchasing any clothing item from specific outlets with bKash payments. Cashback of up to Tk DT 150 per day and a maximum of Tk 300 can be availed throughout the campaign.

Customers can pay with bKash and get 100 per cent cashback on any purchase. Every day three customers will get 100 per cent cashback, up to Tk 1,000, on the maximum amount of purchases made every hour from 10am to 11:59pm.

Customers can also enjoy different amounts of cashback from e-commerce, f-commerce, physical outlet, superstore, clothes, shoes, etc.

All these offers will be valid till April 22. Customers can get the details on all offers from the bKash website or the offer section of the app.

Meanwhile, Dutch-Bangla Bank Limited (DBBL) also has brought a handful of offers on the occasion of Ramadan and Eid based on payments.

DBBL customers will enjoy exclusive offers with DBBL Nexus VIP cards, DBBL Nexus VISA Signature Card and DBBL Nexus Mastercard World on iftar and dinner at 5-star or luxurious hotels for Ramadan.

The top 10 DBBL card or Rocket account holders with the most purchases from Daraz will win mega prizes that include Dhaka-Cox's Bazar-Dhaka couple return air ticket and a free one-night stay in a luxury hotel.

Customers can get 20 per cent cashback if they purchase products from DBBL merchant outlets across the country.

The top five customers who will make DBBL bank card or Rocket payments for Pathao rides will win Dhaka-Cox’s Bazar-Dhaka couple ticket and a one-night free stay at an elite hotel and resort.

Customers will also get 20 per cent cashback for rail ticket payments.

Moreover, United Commercial Bank’s MFS upay will provide two offers during Ramadan ahead of Eid. These are cashback on selected merchant payments and on Payoneer to upay withdrawals.

Sellers happy

Sellers are happy as the increased sales through cashless transactions are promoting their brands and giving them the advantage to collect payments smoothly during this busy time of the Eid shopping rush.

Grocery chains, superstores and lifestyle brands have joined hands with banks and MFS providers to attract more customers.

Popular brand Aarong’s Chief Operating Officer Mohammad Ashraful Alam said that they started receiving digital payments years ago and also accept payments through cards of all banks and MFS now.

“Since the start of the Covid-19 pandemic, we have been encouraging our customers to choose cashless transactions,” he said, adding alongside bank cards, bKash and Nagad are among much-used payment platforms.

Ashraful said that Aarong usually receives 43 per cent in digital payments but it goes over 50 per cent after Ramadan begins due to Eid shopping. “Digital payments are definitely better for us and customers both.”

Fashion Entrepreneurs Association of Bangladesh President Shaheen Ahmed, also the CEO of fashion house Anjans, said that cashless payments have increased for fashion items at shops in recent years.

Anjans now get 50 per cent of its sales payments via cashless transactions because bank cards and MFS have become very popular, he said.

According to Sara Lifestyle, cashless transactions accounted for over 50 per cent of its total sales in 2022. Cashless transactions always witness a spike during the Eid season.

Not only the brand shops, but roadside shops at Dhanmondi, Gulshan, Elephant Road and the other parts of Dhaka city are also receiving mobile financial services for payments against sales.