Bangladesh Bank Training Academy Journal

Abstract

Mobile Financial Services (MFS) represent one of the most significant innovations in the modern financial system. This study aimed to identify strategies to address the challenges faced by rural populations in Bangladesh when using MFS. In particular, it sought to understand how users can be effectively supported in overcoming these difficulties. The research adopted a primarily descriptive design and drew data from senior officials employed by MFS providers. Semi-structured interviews were conducted with six officials, who were conveniently selected from three different MFS organizations. The findings highlight ten key strategies—such as enhancing rural users’ knowledge and awareness, reducing transaction costs, introducing female agents, and ensuring interoperability among MFS providers—that can help mitigate the major challenges experienced by rural users. The implementation of these strategies has the potential to bring about positive changes in the MFS sector in developing countries like Bangladesh. Consequently, collaboration among all relevant stakeholders is essential to pursue these strategies, address rural users’ challenges, and deliver the quality of service expected from mobile financial services