BB mandates 'Bangla QR' for all digital payments

Bangladesh Bank (BB) has made it mandatory for all banks and payment service providers to adopt a single, interoperable QR code system -- 'Bangla QR' -- across all merchant points by June 30, in a major push to streamline and secure the country's digital payment ecosystem.
In a circular issued on April 1, the central bank instructed all scheduled banks, mobile financial service (MFS) providers, payment service providers (PSPs) and payment system operators (PSOs) to phase out proprietary QR codes and replace them with the unified Bangla QR platform within the stipulated deadline.
The regulator warned that failure to comply could attract severe consequences under Section 37(5) of the Payment and Settlement Systems Act 2024. Violators may face fines of up to Tk 3 million, or imprisonment for up to three years, or both.
Magistrates from the National Consumer Rights Protection Directorate have been authorised to initiate legal proceedings against non-compliant entities, it said.
Merchant points -- defined as all locations where payments are accepted, including shops, restaurants, service centres and online platforms -- must visibly display the Bangla QR code to facilitate seamless transactions, the circular reads. The QR code is strictly designated for receiving payments; any misuse, such as cash-out activities, will lead to immediate cancellation.
According to the circular, the initiative seeks to establish an interoperable, secure, cost-effective and inclusive digital payment system nationwide. Unlike existing proprietary QR systems, Bangla QR will allow customers of different banks and MFS providers to transact using a single, standardised code.
The central bank has instructed all institutions to ensure full technical integration and interoperability to guarantee uninterrupted transactions. Regular monitoring of merchant points has also been mandated, alongside intensified awareness campaigns targeting both merchants and customers.
The interoperable QR-based settlement system was first introduced in 2023 to enhance transparency, reduce transaction costs, minimise risks and accelerate digital payments.
The move aligns with the authorities' broader target of making 75 per cent of transactions cashless by 2027.
QR payment facilities have already been made compulsory for obtaining or renewing trade licences nationwide.
Industry stakeholders have welcomed the initiative, citing its potential to boost trust and adoption of digital payments, though concerns remain over implementation readiness.
Shamsuddin Haider Dalim, head of corporate communications at bKash, said the company has already replaced Bangla QR at a significant number of merchant points and is working tirelessly to complete nationwide rollout within the deadline.
This is a challenging task that requires active participation from all institutions in the ecosystem, including banks and MFS providers, he said.
"In addition, it is also important to take timely and effective steps such as financial incentives to raise consumer awareness about digital payments and encourage small merchants to accept digital payment system," he added.

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