Digital payment services are being introduced at sacrificial animal markets to reduce the risks of cash transactions. For the coming Eid-ul-Azha, 10 banks, three international payment schemes and four MFS providers will handle digital transactions at nine temporary and one permanent sacrificial animal market of Dhaka North City Corporation (DNCC).

This was announced at a press conference titled 'Smart Bangladesh Smart Haat' on digital payments at DNCC's sacrificial animal markets, held at midday on Monday (19 June) at the Hotel Sheraton in Banani. DNCC Mayor Atiqul Islam was present as chief guest.

Mayor Atiqul said AB Bank Limited, Bank Asia Limited, BRAC Bank Limited, Eastern Bank Limited, IFIC Bank PLC, Islami Bank Bangladesh Limited, Mutual Trust Bank Limited, Pubali Bank Limited, The City Bank Limited and United Commercial Bank will carry out digital transactions at the markets. Three international payment schemes (Amex, Mastercard and Visa) and four MFS providers (bKash, Nagad, Upay and mCash) will also provide digital payment services.

The participating institutions will set up digital booths at 8 markets in Dhaka North City, transferring payment for sacrificial animals instantly from the buyer's account to the seller's and working to reduce the use of cash.

The press conference was told that digital payments will reduce the risk of cash transactions and at the same time create a digital footprint, or record, for those making transactions. That record will help animal sellers obtain loans on easy terms and other services in future.

Source: Jagonews24. First published in Bengali on The Agro News.