Photo: Collected
Bangladesh Bank has announced incentive facilities for banks and payment service institutions to make Bangla QR code-based transactions more popular among small and marginal traders and service providers.
A circular in this regard was issued by the central bank’s Payment Systems Department (PSD) on Sunday. According to the circular, against each Bangla QR transaction of up to Tk 2,000 completed through the National Payment Switch Bangladesh (NPSB) platform, the acquiring institution will get an incentive at the rate of 0.10 percent and the issuing institution at the rate of 0.20 percent.
This incentive will be given on a monthly basis against transactions completed through small and marginal sellers and service providers onboarded through personal retail accounts, as well as other merchants holding valid trade licences.
The circular further said this new rule has been introduced by replacing the relevant provision of an earlier circular issued on 10 August this year, in order to increase the use of Bangla QR code-based transactions.
It was also said that all the other conditions mentioned in the earlier circular will remain unchanged.
