Bangladesh Bank is set to launch the Bangla QR (Quick Response) code system on 1 July as part of its efforts to expand digital payments and accelerate the country’s transition towards a cashless economy.
The central bank expects the initiative to transform Bangladesh’s payment ecosystem by introducing a unified, low-cost and inclusive digital transaction platform that can be used by businesses ranging from large shopping centres to small roadside vendors.
Under the new system, merchants will be able to receive payments through a single QR code, eliminating the need to maintain multiple QR codes issued by different banks and mobile financial service (MFS) providers.
Officials said the platform would make digital transactions more convenient, transparent and accessible while reducing operational costs for businesses.
Unlike conventional card-based payment systems that require expensive point-of-sale (POS) machines, Bangla QR only requires a QR code sticker, making it particularly suitable for small traders, service providers and informal businesses.
The system is also expected to improve payment security by enabling customers to make transactions directly through their bank or MFS applications, reducing risks associated with card cloning, PIN theft and other forms of payment fraud.
To oversee the nationwide rollout, Bangladesh Bank has formed a steering committee headed by Governor Md Mostaqur Rahman. Representatives from relevant ministries, commercial banks and mobile financial service providers have been included in the committee.
The governor said wider adoption of digital payments would reduce cash-handling costs, improve financial transparency and expand access to financial services.
“Bangla QR can play a significant role in delivering technology-based financial services to rural and underserved communities,” he said.
Bankers and academics have welcomed the initiative.
Md Robiul Islam, additional managing director of SBAC Bank PLC, said the global economy is steadily moving towards cashless transactions and that the initiative would help align Bangladesh with international best practices while offering greater convenience to consumers and merchants.
Prof Dr Md Shahidul Islam Zahid, chairman of the Department of Banking and Insurance at Dhaka University, described Bangla QR as a landmark step towards enhancing transparency and accountability in financial transactions.
However, he stressed the need for extensive public awareness campaigns through mass and social media, noting that limited financial literacy remains a challenge.
Merchants have also expressed optimism. Rahmat Ullah, a cloth trader at Dhaka’s New Market, said the unified platform would remove the hassle of managing multiple QR codes from different service providers.
Academic experts also highlighted the importance of cybersecurity. Prof Al Amin of Dhaka University’s Accounting Department called for strong safeguards against digital fraud and cyber threats alongside public education on using the platform.
Prof Dr Morshed Hasan Khan of the university’s Marketing Department said the initiative marked another important step in modernising Bangladesh’s financial sector and improving the ease of doing business.
He added that wider adoption of cashless transactions would enhance security for traders and support the country’s broader digital transformation agenda.
Bangladesh Bank expects the nationwide launch of Bangla QR to accelerate digital payment adoption and help build a more efficient, inclusive and technology-driven financial ecosystem.
