Bangladesh Bank launches QR-based P2P payments in Bangladesh
Bangladesh is expanding its digital payments infrastructure with a new QR-based person-to-person transfer service introduced on 1 November. The system lets users send money by scanning a recipient’s Bangla QR code, removing the need to manually enter mobile or account numbers.
Highlights
- Bangladesh Bank launched a Bangla QR-based person-to-person payment service for individuals, effective 1 November, enabling fast and secure transfers by scanning QR codes.
- The QR payment initiative is designed to reduce cash dependence and promote widespread digital payments adoption, supporting inclusivity in Bangladesh's payments ecosystem.
- This rollout aligns with Bangladesh Bank’s strategy to streamline retail payments and encourage higher usage of formal digital channels in daily consumer transactions.
Bangla QR rollout and service features
As reported by The Business Standard, citing Bangladesh Bank in a press release, the central bank introduces a Bangla QR-based person-to-person payment service from 1 November for individual users.Under the new system, users can scan another person’s Bangla QR code, verify the required information and complete the transaction. The service is designed to make transfers faster, safer and more convenient than manually entering recipient details.
Digital payments push and market impact
The initiative is expected to reduce reliance on cash in everyday transactions and support wider adoption of digital payments across Bangladesh. Bangladesh Bank says the service also helps make the country’s payment system more inclusive and promotes cashless transactions.The launch adds to the central bank’s broader effort to streamline retail payments through QR-based tools. By simplifying peer-to-peer transfers, the service could support greater use of formal digital channels in daily consumer transactions.
In our earlier coverage of Philippine e-commerce payment trends, we noted that cash-on-delivery still accounts for a sizable share of online purchases even as QR code and bank-transfer usage is rising quickly. The report also highlighted that limited payment options can drive checkout abandonment, adding pressure on merchants and platforms to expand digital methods while strengthening security as cash use gradually fades.
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