Bangladesh Bank launches QR code-based person-to-person payment service

Bangladesh Bank has introduced a person-to-person (P2P) payment service through Bangla QR, allowing users to transfer money by scanning a recipient's QR code instead of manually entering a mobile phone number or bank account details.

The service became operational on November 1, according to a press release issued by the central bank.

Under the new system, users can scan the recipient's Bangla QR code, verify the transaction details and complete the transfer digitally.

The facility can be used for everyday personal transactions, including sending money to friends and family, paying tips for services and making donations. It can also be used to give money to people in need, including beggars, provided they have a Bangla QR code.

The service is expected to make small-value transactions faster and more convenient by eliminating the need to enter recipients' mobile numbers or account details manually.

Bangladesh Bank said the initiative would help reduce reliance on cash and encourage wider adoption of digital payments in everyday transactions.

The central bank expects the service to make the country's payment system more inclusive and contribute to the transition towards a cashless economy.