Bangladesh Bank has initiated a Bangla QR payment system to offer you a safe and affordable solution for any kind of small trading.
A QR (Quick Response) code is a type of matrix barcode. It is a machine-readable optical label that contains information about the item to which it is attached. Vendors can easily avail a Bangla QR unique code if they have a bank account or a mobile financial service (MFS) personal retail account.
Smartphones are not required to accept payments through this mode of transactions. But customers need to have a compatible MFS application or bank app installed on their smartphone with an Internet connection to make a payment.
The central bank’s Payment Systems Department has recently come up with this interoperable “scan to pay” initiative. This alternative to expensive Point of Sales (POS) devices. The system focuses on bringing more micro-merchants under the digital payment ecosystem.
Source: The Business Standard