BB wants taking digital payment services to rural areas

We, no longer want to keep the digital payment system in city-based supermarkets or shopping malls alone, rather, we want to take it to the margins. That is why we are trying to overcome the obstacles that we had. A major hurdle in digital payment systems is the QR code, an alternative technology to reduce charges. If the payment ecosystem can be taken to the marginal stage, then this whole ecosystem will work as a part of digital financial system, said Mezbaul Haque, General Manager, Payment Systems Division, Bangladesh Bank (BB). Bangla QR was launched for the first time in Bangladesh on Tuesday in collaboration with online MasterCard, SSLCommerge and Mutual Trust Bank Limited. Mezbaul Haque expressed such optimism in his speech as the chief guest. 'White Label QR' is a code-based interoperable payment acceptance solution, which will create more opportunities for small businesses to participate online through the Bangla QR network. As a result, Bangladesh will move one step forward in building a "Less Cash Society". Saiful Islam, Managing Director (MD) of SSLcommerge, who was the special guest at the event, said that in the coming days, a buyer will be able to scan the QR of a small tong shop tea bill or a grocery store bill next to the house. The QR payment service will directly benefit millions of small and medium entrepreneurs, suppliers, distributors, and factory owners from all across the country. We hope to turn this dream into reality, not just in Dhaka; but across the entire country very soon. MasterCard Bangladesh's Country Manager Syed Mohammad Kamal said MasterCard will continue to provide technology-based solutions as well as ensure easier, smarter and more secure 'contactless payment' facilities. As a trusted partner on the country’s progressive journey, Mastercard will continue to introduce technology-driven solutions and simple, smart and secure contactless payment options. Syed Mahbubur Rahman, Group MD and CEO, Mutual Trust Bank was also present at this launching event. He said, "We are thrilled to collaborate with Mastercard and SSLCOMMERZ on this revolutionary initiative. In pursuit of the Digital Bangladesh vision of our government, we believe this endeavor will facilitate convenience for valued customers with transactional efficiency." In 2019, Mastercard and MTB pioneered BanglaQR through MTB’s mobile banking app. With today’s launching, QR-based payments will be more flexible and convenient for users as they will be able to carry out real-time contactless transactions using any Mastercard. The mass Level QR acceptance solution will enable Mastercard cardholders to make QR code-based payments more easily and quickly via the ‘scan to pay’ option on SSL’s white-label acquiring solution which will cover merchants across the country. To complete the transaction, users will access the Mastercard QR option on their bank’s app and scan the code displayed at the merchant’s website or checkout counter. Users then will enter the amount that they wish to pay to complete the payment.