Mandatory 'Bangla QR' from today, all digital payments in one code

To make digital transactions in the country easier, safer and equally usable for everyone, 'Bangla QR' has been launched mandatorily from today (July 1). As a result of this initiative of Bangladesh Bank, from now on, money can be paid from any bank or mobile financial service (MFS) using a single QR code. This will eliminate the hassle of using multiple QR codes and make the digital payment system easier.

The biggest advantage of Bangla QR is that payments can be made using bKash, Nagad, Rocket or any bank's app with a single QR code. Earlier, traders had to keep separate QR codes for different institutions, but now there will be no need for that. This will introduce the same type of digital payment system everywhere, from small shops to large business establishments.

This system does not require expensive point of sale (POS) machines. Transactions can be completed with a simple QR sticker. In addition, customers will be able to pay directly from their own bank or mobile wallet app, which will reduce the risk of card cloning, PIN theft or other fraud. Account management will be easier for merchants and the risk of carrying cash will also be reduced.

Bangladesh Bank said that the introduction of Bangla QR will further strengthen the interconnection between banks and MFS. The relevant banks and financial institutions have already completed the necessary preparations. The central bank hopes that this initiative will play an important role in building a cashless economy in the country, increasing digital transactions and ensuring financial inclusion.