32 C
Friday, July 19, 2024


Visa, the global leader in digital payments technology, plans to launch QR payments in Bangladesh, enabling consumers to link their credit, debit and prepaid cards to their mobile banking apps to ‘scan and pay’ for their purchases.

Visa recently announced that it would launch an interoperable quick response (QR) payment system in Bangladesh within the next one and a half months as part of efforts to expand its business.

Paying for goods will no longer need point of sale (POS) terminals at shops or other places, TR Ramachandran, country manager for Visa India and South Asia, said at a press conference at InterContinental Dhaka.

Clients will have to just use mobile banking apps linked to their debit, credit and prepaid cards to scan QR codes displayed by merchants, he said.

Visa, one of the global leaders in digital payments technology, is working with various banks and partners across the country to enhance the acceptance of digital payments, Ramachandran said.

Ramachandran also thanked Bangladesh Bank for recently drawing up relevant guidelines for the payment system, which the central bank is terming Bangla QR.

Everyday payments in retail and restaurants will be made simpler, cheaper and faster for all, especially considering the fact that merchants have to count $300 to purchase a POS terminal, Ramachandran said.

“We think that there is a great opportunity to expand business in Bangladesh. As only 6 percent clients are making payments through digital platforms,” he said.

The QR payment system will expand rapidly once banks come on board, helping to build a cashless society, Ramachandran said.

He expressed hope that at least 10 to 15 banks and up to 1 lakh merchants would join the initiative within the next six months.

Visa plays an important role in the proliferation of digital payments, including introducing the first ever contactless card in Bangladesh last year, to mark 30 years of providing financial services to the country.


Related Articles

U.S Embassy Applauds Journalist Safety Training

U.S. Embassy Applauds Journalist National Election Safety Training

Recognizing the crucial role of journalists in the upcoming national elections, the Edward M. Kennedy (EMK) Center partnered with the Bangladeshi Journalists in International...
Hola Browser

Hola gives the people of Bangladesh free access to a world of online content...

– The Hola Browser, a browser which includes a built-in 100% free peer-to-peer virtual private network (VPN), this week officially launched in Bangladesh,...
Universal College Bangladesh UCB

UoL degrees with London School of Economics’ academic direction, now at Universal College Bangladesh!

With the aim of providing world-class affordable education in Bangladesh, Universal College Bangladesh (UCB), the first Ministry of Education approved international education provider...

Bangladesh MBA Association (BMBAA) holds its 10th AGM and Election of Central Executive Committee...

Dhaka September 24, 2022: Bangladesh MBA Association (BMBAA) held its 10th Annual General Meeting today at IBA Auditorium, Institute of Business Administration (IBA), University...
Salman Khan-Being Human Clothing

Salman Khan’s ‘Being Human Clothing launching’ in Dhaka

Dhaka, 13 September 2022: Bollywood superstar Salman Khan owned clothing brand ‘Being Human Clothing’ launches its first outlet at Banani, Dhaka on the 15th...
Next Generation Bankers

NGGB Trust pays courtesy call to Shimanta Bank MD

Trustees of Next Generation Bankers Bangladesh (NGGB)—a platform that unites young bankers of the country for common good—on Wednesday paid courtesy visit to the...