Daily Bangla QR Transactions Quadruple as Bangladesh Bank Launches Service Across Retail Networks

Daily transactions through the universal payment system 'Bangla QR' have quadrupled in Bangladesh. Transactions on the platform averaged 40 crore taka a day last June, and officials said the volume has now risen fourfold.

To reduce the use of cash and make digital transactions easier and wider, Bangladesh Bank has now moved to launch Bangla QR services across retail networks nationwide. As part of that initiative, the service was formally inaugurated on Wednesday (November 4) at several retail networks in the capital's Banani and Gulshan areas. Bangladesh Bank Deputy Governor Dr Mohammad Habibur Rahman inaugurated the service as chief guest.

At the inauguration, the Deputy Governor said person-to-person, or P2P, transaction facilities had been introduced from November 1 to make the Bangla QR system more effective and user-friendly. Through it, users can send money directly to one another digitally.

Bangladesh Bank's initiative aims to increase the use of QR code-based payments in shopping and everyday financial transactions. Shoppers will be able to pay for goods through mobile banking or bank accounts without carrying cash, while the process of accepting payments will become easier for businesses.

However, Dr Mohammad Habibur Rahman noted that there are infrastructural limitations to expanding Bangla QR services in remote parts of the country. He said there are some limitations in mobile and network facilities in reaching marginal areas, and that coordinated cooperation among banks, retail networks and mobile financial service (MFS) providers is essential to remove those barriers and increase financial inclusion.

At the event, Mutual Trust Bank (MTB) Managing Director Syed Mahbubur Rahman said that the more cashless transactions grow, the less the government will have to spend on printing new money, while overall financial transactions will gain transparency and accountability.

Those involved say the spread of the Bangla QR system can modernise the country's payment infrastructure and help increase financial inclusion. In particular, if the service reaches small traders and retailers, dependence on cash will fall, and digital transaction records will improve business bookkeeping and transparency.