A Change In Lifestyle Through The Mobile Financial Services Amid COVID-19: A Systematic Review In South-Asian Context

Amrita Nandy

Amid the adversity of COVID-19, mobile financial services have driven a fundamental part to sustaining business, to save lives and to harmonize the society. This paper takes into account the present scenario of mobile financial services with a connection to embellish this monetary service even after the pandemic. The analysis is based on qualitative approach. Thus, various secondary sources like private and public publications, newspapers, peer-reviewed journals, and web-based materials were reviewed to examine the situation. Outcomes of the assessment uncovered that a wide range of mobile financial services has increased during the COVID situation. The total number of accounts rose drastically from 7,96,53,748 to 11,14,98,669  respectively from the year 2019 (before the pandemic) to the year 2021 (during the pandemic). A similar upward trend continued in terms of male and female users. One significant finding is the establishment of “women empowerment” in Bangladesh, especially in rural communities during this epidemic session through this financial service. Moreover, it has identified a number of potential areas for further expansion of the business. As an implication, this research will assist individuals, experts and policymakers in comprehending the potentiality of the business and taking measures considering the policy recommendations. Finally, a pathway for future researchers has also been identified.

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