The Central Bank of Bangladesh is trialling an interoperable payments system that will enable customers of more than 15 major banks and payment service providers to pay for their purchases by scanning a standardized QR code at a participating merchant’s point of sale with their smartphone.
The system forms part ofCashless Bangladesh initiative and is built on the country’s existing Bangla QR mobile payments service that to date has only enabled customers of specific banks to make QR code payments at merchants that have an account with the same financial institution.
Bangladesh Bank’s pilot upgrade has now extended the interoperability of that service so merchants can accept payments from customers with accounts at any of the participating banks and payment service providers.
“From now on, anyone can make payments using the QR codes, regardless of their account-keeping banks or organisations,” central bank executive director Mezbaul Haque said when launching the pilot, according to a.
“Earlier, the service was limited. Clients of a particular bank could make payments using the QR codes of the bank only.
“This new initiative brings a solution to that. Now you can make payments from any bank to merchant accounts direct.”
At launch, 10 banks —, , , , , , , , and — as well as , , and mobile payments providers , and Islami Bank’s mCash are supporting the service, Bangladesh Bank says.
The upgraded interoperable version of Bangla QR is being tested with some 1,200 small businesses in the capital Dhaka prior to a wider rollout.
Bangla QR was originallyin January 2020.