Bangladesh Bank has directed banks, mobile financial service (MFS) providers and payment service providers (PSPs) to credit Bangla QR payments to merchants’ accounts instantly from 1 October, reducing the current settlement time of up to one day.
The central bank issued the directive today (17 September), outlining several measures to make Bangla QR payments more accessible and user-friendly and encourage merchants to accept digital payments.
Under the new directive, banks, MFS providers and PSPs must place the Bangla QR payment icon at the bottom centre of their mobile app home screens from 1 October, in a position that can be easily accessed with users’ thumbs.
They must also introduce an option to make payments by uploading an image of a QR code, in addition to scanning it, by 31 October.
By the same deadline, all savings and current account holders, including cardholders, must be able to make payments by scanning Bangla QR codes through their mobile apps, according to the directive.
Bangladesh Bank said the measures are intended to make digital transactions through Bangla QR more popular and user-friendly while encouraging merchants to accept payments through the system.
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