Significance of Exponential uses of Mobile Financial Services (MFS) in Bangladesh.

Abstract

The financial services delivered via mobile networks that performed through mobile phone or personal digital assistance allows customers to conduct a number of financial transactions without the access to traditional banks. The study explores the trend of the uses of Mobile Financial Services as a new service offered by the commercial banks in Bangladesh with its competitive market position through the utilizations of the both method of qualitative and quantitative techniques. MFS has started its work gradually from 2011 in Bangladesh. The research found that though MFS is a first-hand but has upwards trends in demand especially to the students with the limited age groups and incomes. Most of the transactions are made from the big cities like capital and metropolitan cities. It was observed that the MFS contributes in profits of the banks. The research also found that though the customers are satisfied about getting money through MFS but insecurity also can arises due to the networking problems, telecommunic-ations services and unconsciousness of the agents.