Mobile Financial Services (MFS) in Bangladesh : Measuring Its Consumers’ Attitude & Its Role on Buying Decisions of Other Company’s Products of the Consumers

Mobile Financial Services (MFS) is a system or way by which a financial institution provides services to the people with the combination of banking and mobile wireless networks that enables users to perform banking transaction. Many financial institutions are offering innovative services to the customers to make life more easy and comfortable by harnessing the modern technology. In Bangladesh It has been fairly a new concept. Bkash has been successful to offer better services since 2011 even if DBBL was the pioneer in this market. There are also some other financial service providers who are not in a remarkable position in the marketplace. However, the purpose of this study was to measure the attitude of the customers towards financial services under the shadow of the concept of mobile banking and also to find out how these financial services sway customers in their buying decisions in case of buy anything of other company's products. This was a quantitative analysis.150 respondents were surveyed in savar area for this purpose. Respondents were surveyed at different agent points at different areas in savar although responses were obtained mostly through online questionnaire using online goggle forms mostly. It was found that customers have positive attitude towards mobile financial services as it makes their life easy and also for convenience, trust, security, risk reduction, availability of agents points etc of the MFSP. However, people prefer bkash, most that has captured a unique position in the mind of customers because of its user friendliness and heavy mass communication although DBBL rocket is doing good. But other service providers like Surecash, Mycash,Ucash etc have a very unremarkable position in the market and an irony of fate that still many customers are not cognizant of many of the financial service providers.It was also found that customers intend to purchase other company's products owing to different offers that come with the combination of MFSP and other company that sells products. Many online shopping is taking place where payment are being made using these mobile financial services