Transactions are increasing in Bangla QR, 110 crore taka daily

After making the single QR code system 'Bangla QR' mandatory in the country, transactions through this medium are increasing rapidly. At the beginning of July, there were an average of 178 thousand Bangla QR transactions per day, but last week it increased to 303 thousand. At the same time, the amount of transactions increased almost threefold to an average of more than 110 crore taka daily.

According to Bangladesh Bank, at the beginning of July, there were an average of 178 thousand transactions per day through Bangla QR. At that time, an average of 37 crore 33 lakh taka was transacted in these transactions per day. Currently, the number of transactions has increased to 300 crore 38 lakh taka daily.

From July 1, the use of Bangla QR as a single QR has been mandatory in the country instead of various types of its own QR. Since then, the number of merchants using Bangla QR has also been increasing rapidly. At the beginning of July, there were about 1.6 million merchants under the Bangla QR system. Currently, this number has increased to about 3 million. Government and private banks are also working to expand this payment system.

Currently, Bangla QR is mainly used for purchasing goods or services in shops and various institutions. However, this time, Bangladesh Bank has taken the initiative to introduce the opportunity to transfer money from person to person. According to the plan, this system can be launched by November 1. The new system will have a specific QR code for each person. By scanning it, money can be sent from a bank or mobile financial service (MFS) account to another person's account. This will make bank-to-bank, MFS-to-MFS and bank-to-MFS money transfers easier.

Bangladesh Bank Executive Director and Spokesperson Arif Hossain said that an initiative has been taken to make Bangla QR easier and more people-friendly to increase cashless transactions. The relevant institutions have been instructed to make necessary preparations to launch money transfers through Bangla QR at the individual level.