Bangladesh Cards Market 2025-2031

Between 2021 and 2024, Bangladesh cards market has seen significant growth, driven by rising financial inclusion, digital transformation, and supportive government policies. Consumer spending rose from 2021 to 2024, while household final consumption has also increased. The middle and affluent class (MAC) population is projected to triple from 2021 to 2025, reinforcing demand for digital financial tools such as debit, credit, and prepaid cards. In 2022, the expansion of Mobile Financial Services (MFS) platforms including bKash, Rocket, Upay, and Nagad transformed the payment landscape.

The same year, a non-banking financial institution launched a cardless consumer financing platform with smartphone-based EMI facilities, enabling salaried individuals to access credit digitally. By 2023, government-backed initiatives such as Bangla QR (launched in January) and TakaPay (late 2023) gained traction, supporting the transition to a cashless economy. Financial infrastructure also improved, with banks including City Bank deploying POS terminals and QR points. In 2024, credit card transactions continued to grow annually, with VISA holding a dominant market share. Dhaka witnessed a rise in spending, and consumers preferred online payments.

Bangladesh Cards Market Overview

The Bangladesh Cards Market is projected to grow at a CAGR of 21.5% in transaction volume from 2025 to 2031. According to a five-year review by the E-Banking and E-Commerce Statistics Unit, Bangladesh cards market witnessed robust growth between March 2020 and February 2025. Total transaction volume using debit cards and credit cards surged from March 2020 to May 2025. VISA cards dominated credit card transactions in early 2025, followed by Mastercard and AMEX.

Bangladesh Cards Market Segmentation

This expansion reflects increasing consumer reliance on card-based payments for retail and e-commerce, supported by enhanced digital infrastructure and government-led initiatives. The National Financial Inclusion Strategy (NFIS) 2021-26, aligned with the “Smart Bangladesh” vision, aims to scale digital financial services (DFS) through digital literacy, regulatory support, and expanded access. Wider mobile and internet penetration has further boosted DFS adoption, integrating cards into the broader digital ecosystem. By 2027, Bangladesh aims for some part all transactions to be digital, paving the way for a fully cashless society by 2031 and accelerating payment card adoption. Further in the coming years, country would witness innovations such as AI-powered fraud detection, personalized user experiences, and simplified KYC for onboarding would enhance card accessibility, especially in rural areas.

Market Segmentation by Card Type

Credit cards in Bangladesh are expected to show the highest growth in transaction volume due to increasing adoption among the urban middle class, rising e-commerce usage, and growing demand for flexible credit and rewards. However, debit cards would continue to dominate overall owing to their wider base linked to salary and savings accounts, strong usage for ATM withdrawals, and preference for cash transactions across the country, especially in rural and semi-urban areas.

Market Segmentation by Channel

CRM (Cash Recycling Machine) transactions are expected to show the highest growth in Bangladesh due to the increasing deployment of CRMs by banks to improve cash management efficiency and reduce operational costs. CRMs enable both cash withdrawals and deposits, making them attractive for retail users and small businesses alike

Market Segmentation by End-User

Corporate institutions in Bangladesh are expected to show the highest growth in card transactions due to increasing adoption of salary disbursement cards, expense management tools, and prepaid solutions for business-related spending. As digital finance adoption accelerates among SMEs and large enterprises, transaction volume from corporate users is rising steadily. However, the retail segment still holds the highest share due to the large base of individual consumers using cards for salary withdrawals, remittances, and personal spending across urban and rural areas.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2021 to 2024
• Base Year: 2024
• Forecast Data until 2031
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Bangladesh Cards Market Overview
• Bangladesh Cards Market Outlook
• Bangladesh Cards Market Forecast
• Historical Data and Forecast of Bangladesh Cards Market, Transaction Volume, by Card Type, for the Period 2021-2031F
• Historical Data and Forecast of Bangladesh Cards Market, Number of Active Cards, by Card Type, for the Period 2021-2031F
• Historical Data and Forecast of Bangladesh Cards Market, Transaction Volume, by Channel, for the Period 2021-2031F
• Historical Data and Forecast of Bangladesh Cards Market, Transaction Volume, by End-User, for the Period 2021-2031F
• Bangladesh Cards Market Drivers and Restraints
• Industry Life Cycle
• Porter’s Five Force Analysis
• Bangladesh Cards Market Trends & Evolution
• Market Opportunity Assessment
• Key Performance Indicators
• Bangladesh Cards Market Volume Ranking, by Top 3 Companies
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations
• Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Card Type

• Debit Card
• Credit Card
• Prepaid Card

By Channel

• ATM Transactions
• POS Transactions
• CRM Transactions
• E-Commerce Transactions

By End-User

• Retail Consumers
• Corporate Institutions
• Government/Public Sector