Bangla QR will mark a turning point for Bangladesh’s digital payments landscape by enabling customers of different banks and mobile financial service providers to pay merchants through a single interoperable standard, said SBAC Bank Managing Director and CEO S M Mainul Kabir.
In an interview with TIMES of Bangladesh, the banker said the Bangladesh Bank initiative replaces institution-specific QR codes with a unified standard, reducing friction for merchants and consumers while strengthening interoperability across the country’s payment ecosystem.
SBAC Bank has already integrated Bangla QR into its BanglaPay mobile banking app after preparing its technology, operations and customer support systems for the rollout.
Beyond QR payments linked to bank accounts, BanglaPay also allows customers to pay merchants directly from their debit and credit cards through the app, a feature the bank says offers greater flexibility in everyday transactions.
Mainul Kabir believes the success of Bangla QR will depend less on technology than on customer behaviour.
A cashless economy requires public trust, intuitive products and broad merchant acceptance, he said, arguing that banks must make digital payments a natural part of daily life through secure applications, simple interfaces, affordable pricing, prompt complaint resolution and reliable merchant services.
“Sustained financial literacy and awareness campaigns will also be essential to accelerate adoption,” he said.
That strategy is reflected in BanglaPay’s broader offering. Besides merchant payments, the platform enables fund transfers, credit card bill payments, mobile recharges, utility bill payments and cheque-free cash withdrawals at branches using QR authentication.
The addition of Bangla QR extends those capabilities by allowing customers to make payments at merchants using a common national QR standard.
The larger obstacle, in Kabir’s view, lies in changing long-established payment habits. Many small businesses still regard cash as the safest and easiest option, while limited digital literacy, uneven internet connectivity in remote areas and mobile data costs continue to slow adoption.
Addressing those challenges will require coordinated efforts by banks, payment service providers and business associations to simplify merchant onboarding, keep transaction costs affordable, speed up settlements and build confidence among both merchants and consumers, he said.
Mainul Kabir does not expect Bangla QR to replace cash overnight, but believes it marks the beginning of a structural shift.
Drawing on international experience, he said interoperable payment systems gradually reduce reliance on cash as acceptance widens.
“Bangladesh is likely to follow a similar path as Bangla QR becomes commonplace at grocery shops, pharmacies, restaurants, transport services and neighbourhood businesses.”
Protecting that ecosystem will require equally strong cybersecurity.
SBAC Bank has implemented multi-factor authentication, real-time transaction monitoring, encrypted data transmission, device verification and advanced risk analytics, while conducting regular security audits to strengthen its digital banking platform.
Customer awareness remains the first line of defence against fraud, Mainul Kabir said, urging users never to share one-time passwords, PINs or passwords with anyone.
