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Bangladesh’s unified digital payment platform, Bangla QR, recorded transactions worth Tk 22.02 crore through 77,165 transactions within the first 48 hours of its mandatory nationwide rollout, highlighting strong momentum toward a cashless economy.
The transactions were made on June 30 and July 1, coinciding with the Bangladesh Bank’s deadline for all financial institutions to adopt the unified QR payment standard.
According to the central bank, the interoperable “one country, one QR” system is designed to modernise the country’s retail payment infrastructure, reduce reliance on cash and promote a more efficient digital financial ecosystem.
Developed under the National Payment Switch Bangladesh (NPSB) platform, Bangla QR enables customers to make payments using any participating bank app or mobile financial service (MFS) wallet, including bKash and Nagad, by scanning a single QR code.
Previously, merchants often had to display multiple QR codes issued by different banks and MFS providers. Under the new system, a single universal QR code can accept payments from all participating digital payment platforms.
The central bank said the system also offers a cost-effective alternative to conventional Point of Sale (POS) terminals, as merchants only need a printed QR code to receive digital payments. This is expected to encourage adoption among small businesses, roadside vendors and street hawkers, alongside larger retailers.
To support wider use, Bangladesh Bank issued a circular on July 1 capping the maximum Merchant Discount Rate (MDR) for Bangla QR transactions. The capped rate applies to payments made through bank accounts, debit, credit and prepaid cards, as well as MFS platforms.
Bangladesh Bank spokesperson Arif Hossain Khan clarified that customers will not have to pay any additional fee for using Bangla QR.
“Consumers can make purchases through Bangla QR without paying any charge. The transaction fee applies only to merchants and cannot legally be passed on to customers,” he said, adding that charging buyers extra would violate the central bank’s guidelines.
Bangladesh Bank expects the nationwide adoption of Bangla QR to increase digital transactions, improve financial transparency, reduce risks associated with cash handling and card fraud, and help bring more economic activities into the formal financial system.