The credit can cover utility bills, mobile recharges, education and healthcare costs, travel expenses, taxes and government service fees, deposit instalments, and insurance premiums

Low financial literacy, concerns over cybersecurity discourage many consumers from using electronic payment methods

Bangladesh’s goal of a cashless future is colliding with failed projects, user mistrust, and an economy that thrives on cash

Japan, a pioneer in mobile “e-wallet” payments in 2004, has, ironically, since become a serious laggard on this front. Less than 20 percent of the payments are cashless, in the country.