Banks And MFS Get Incentives Now
Bangladesh Bank Boosts Bangla QR Incentives
- Central bank offers 6 Taka incentive for Bangla QR.
- Applicable for transactions up to 2 thousand Taka.
- Licensed merchants included along with small retail vendors.
In a bid to accelerate cashless transactions and expand the digital financial ecosystem, Bangladesh Bank has broadened the incentive structure for Bangla QR code-based merchant payments. The Payment Systems Department-2 issued a directive on Sunday (September 27), instructing all scheduled banks, Mobile Financial Services (MFS), Payment Service Providers (PSP), Payment System Operators (PSO), and international payment schemes to implement the new framework.
Under the revised guidelines, a combined monthly incentive of up to BDT 6 will be disbursed to service providers for each Bangla QR transaction via NPSB up to BDT 2,000. The acquiring entity (the institution processing the merchant transaction) will receive 0.10% (up to BDT 2), while the issuing entity (the customer’s account or card issuer) will receive 0.20% (up to BDT 4). For instance, a transaction of BDT 2,000 yields BDT 2 for the acquirer and BDT 4 for the issuer, whereas a BDT 1,000 payment provides BDT 1 and BDT 2 respectively. However, customers or merchants will not directly receive these cash incentives.
This updated instruction replaces paragraph 2 of the previous PSD-2 circular issued on August 10. By replacing the prior clause, the central bank has expanded the incentive coverage beyond micro and marginal vendors operating individual retail accounts to now include all trade-licensed merchant outlets processing payments via Bangla QR.
//DBTech/DPO/MNP/SMP//
