Cashless Eid-ul-Azha

Digital payment methods have had a significant impact on the lives of Bangladeshis almost since the service's introduction in the country. This near-revolution in the field of technology has not only made it easier for people to make financial transactions with barely a couple of clicks on their cellphones or the swipe of a card, but also provided users with incentives in the form of cashbacks and discount benefits.

As Eid-ul-Azha approaches, mobile financial services and cards are offering lucrative cashback and discount offers to cash in on the shopping frenzy ahead of the grand festival.

bKash

bKash, the largest mobile financial service provider in the country, is offering up to 20 percent cashback on bKash payment at selected outlets (around 2,500 outlets of 125 reputed brands) in lifestyle, e-commerce, super shops and restaurants across the country on the occasion of Eid-ul-Azha. It is the largest payment campaign the mobile financial service provider has ever done in terms of categories and number of outlets. 

Having started on July 31, the offer will continue until August 25. Category-wise, the maximum cashback limit for a customer on a single transaction is Tk 300 to Tk 1,000 and a total of Tk 2,000 during the offer period after fulfilling certain terms and conditions. The customer will receive instant cashback in his or her bKash account soon after making the payment through the bKash app or USSD channel *247#.

When asked about the campaign, Mr Zahedul Islam, Deputy General Manager, PR & Media Relations, Corporate Communications, bKash, adds: “Transactions increase during festivals, particularly in the merchant payment segment where the cashback offer plays a catalyst role.” As for the merchants, he said: “Partnerships facilitate companies to reach 30 million bKash users where cashback also helps them to register increased sales volume.”

Eastern Bank Limited

Typically, around the time of Eid-ul-Azha, the demand for refrigerators and freezers soars, as people look to ensure that the meat of the sacrificial animals is well-preserved for a long period of time. Keeping this in mind, Eastern Bank Limited is offering 5-50 percent discounts for EBL cards used to buy a wide range of home appliances at different renowned brand shops.  

Global card giant MasterCard is also offering up to 15 percent discount for its debit, credit or prepaid cards to buy electronic appliances during this Eid.

Moreover, credit card users have the option of availing equal monthly instalment facility on home appliance purchase, thereby spreading the payment load to an extended period without having to pay any interest. For example, BRAC Bank is offering 3 to 36 months' interest-free instalments for a wide range of home appliances through its P@yFlex programme during this Eid festival.

Arshae Haq is a contributor to The Daily Star