Bangla QR transactions carry no extra charges: Khosru
Photo: Agamir Somoy
Finance Minister Amir Khosru Mahmud Chowdhury said no additional fee or charge will apply to Bangla QR code-based transactions to build a cashless Bangladesh and a digital economy.
He made these remarks on Thursday while inaugurating product purchases using the Bangla QR code and inspecting Bangla QR code-based transactions at the Banani kitchen market in Dhaka.
The minister added that authorities will gradually bring people from all walks of life under digital financial services. Explaining how users will benefit from this system, he noted that everyone from citizens to sidewalk vendors or any small merchant will be able to receive money effortlessly into any bank or service provider account using QR codes.
Khosru asserted that as a result, no one will have to bear the burden of carrying hard cash anymore, making the transaction process easier and more dynamic. Although some minor technical challenges or temporary issues may appear in the initial stage, overcoming them quickly is possible.
According to the minister, cashless transactions are simple and secure in many developed and rapidly growing economies worldwide - a reality already proven and successful - and Bangladesh Bank (BB) is working to make the practice universal across the country.
He urged citizens, merchants, and service providers to participate without hesitation in this government initiative aimed at building a cashless and secure economic Bangladesh.
Bangla QR is a digital payment system introduced by BB, through which transaction volume is expanding rapidly. At a press briefing held at the BB headquarters on Wednesday, Spokesperson Arif Hossain Khan said according to BB data, an average of nearly 1,00,000 Bangla QR transactions occurred daily in June, with the financial value of these transactions averaging over Tk 28 crore daily.
An average of nearly 3,50,000 Bangla QR transactions take place daily in September, with their financial value reaching an average of Tk 143.54 crore. Users will receive several key benefits when using Bangla QR, including instant fund transfers into a merchant’s account, reduced service costs, and incentives for transactions up to Tk 2,000.
Moreover, consumers will be able to conduct direct person-to-person transactions through this service starting in November.
