Transactions thru credit cards witness 15.30% rise in February

Domestic credit card usage saw a notable jump within Bangladesh in February, 2026 rising by 15.30% compared to the same month, a year ago, according to a recent report of Bangladesh Bank.

Transactions through cards maintain a steady growth in Bangladesh, indicating a positive trend towards a more digitised ed and cashless financial ecosystem.

However, transaction volumes showed a slight decline on a month-to-month basis as total domestic credit card spending stood at Tk 3,422 crore in February, down from Tk 3,720 crore recorded in January 2026.

Central bank data shows that departmental stores accounted for the largest share of such digital transactions. Nearly half of all domestic credit card spending—45.36%—took place in this category, amounting to Tk 1,552 crore.

Other major sectors included retail outlet services (12.01%), utility bill payments (8.68%), clothing stores (7.92%), and cash withdrawals (7.52%), which totaled Tk 2,572 million.

The Bangladesh Bank report also suggests higher spending in department stores may be linked to rising prices of essential goods, along with promotional offers from banks and the growing ease of using cards at these outlets.

In contrast, cross-border transactions saw a slight decline. Spending by Bangladeshi cardholders abroad dropped by 1.75% in February 2026 compared to the same period in 2025.

Total outward spending stood at Tk 377 crore, with the United States (14.40%) and Thailand (13.38%) being the top destinations.

Spending by foreign nationals within Bangladesh also decreased slightly. Transactions made using foreign-issued cards totaled Tk 266 crore in February, marking a 0.55% decline from the previous year and a sharper 22.60% drop compared to January 2026.

Among foreign users, cardholders from the United States contributed the largest share, accounting for 32.60% of total inward transactions.

The data also highlights that Bangladeshi cardholders spent significantly more abroad than the foreign nationals did within the country—about 2.61 times higher.

Despite some short-term fluctuations, the overall card market in Bangladesh has expanded rapidly in recent years. Over the past five years, the number of issued cards—including debit, credit, and prepaid—has grown by 105% while transaction volumes have increased by 100%.

As of February 2026, the total number of credit cards in circulation reached over 2.7 million. Currently, 56 scheduled banks and one non-bank financial institution are providing card services, supporting the continued growth of digital financial transactions in the country.