Contactless payments, or tap-to-pay transactions, more than doubled to 13 percent of all transactions in Bangladesh in 2024 through Visa, a leading global digital payments provider, according to a new report.

Integrating digital payments in the microfinance sector can save work hours, enhance productivity, and simplify instalment and deposit collection, experts said at a seminar.

Cashless payments are clearly gaining momentum, aided by increased regulatory support that is fueling innovation, a prime example being contactless payments.