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No merchant cost on Bangla QR transactions will take effect from Thursday (October 1), as merchants will no longer have to pay the 1 percent merchant discount rate (MDR), Bangladesh Bank spokesperson and Executive Director Arif Hossain Khan said on Wednesday (September 30).
He made the announcement at a press conference at Bangladesh Bank, saying the decision was taken to make Bangla QR more organised and sustainable.
Currently, around 4 million merchants use Bangla QR. Since the mandatory use of a single Bangla QR was introduced in June, transactions through the platform have increased 3.5 times, while transaction value has risen nearly fivefold.
Mr Arif added person-to-person (P2P) transactions through Bangla QR will also be introduced from November 1, making interoperable digital payments easier for individuals.
He said Bangladesh Bank introduced Bangla QR to establish a secure, simple and inclusive digital payment system for people across the country
