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Bangladesh Bank has set the Interchange Reimbursement Fee (IRF), or interchange fee, at zero for transactions conducted through Bangla QR, meaning issuing institutions will no longer have to pay the fee for such transactions.
The central bank’s Payment Systems Department-2 issued a circular on Monday announcing the decision.
According to the circular, a new provision on interchange fees was considered necessary alongside the existing guidelines governing fees and charges for QR-based transactions between buyers and sellers through Bangla QR.
Against this backdrop, Bangladesh Bank has fixed the IRF at zero for all types of transactions conducted through Bangla QR.
The new directive will take effect from October 1, the central bank said.
It also said that if there is any inconsistency between the new directive and the previous instructions on Bangla QR transactions issued on February 6, 2025, the latest directive will prevail.
The circular, signed by a director of the relevant department of Bangladesh Bank, has been sent to banks, financial institutions and relevant payment service providers.
The decision is part of efforts to promote Bangla QR as a common QR platform connecting interbank transactions and different digital payment systems in Bangladesh.
With the IRF set at zero, participating institutions will no longer be able to impose the additional interchange fee when settling Bangla QR transactions, which Bangladesh Bank expects to help encourage wider adoption of the digital payment system.
