Bangla QR transaction charges zero from Oct 1

To further encourage digital transactions, Bangladesh Bank has decided to set the interchange reimbursement fee (IRF) to zero for all transactions through Bangla QR codes. According to the new decision, from October 1, the issuing institution will not be able to charge any fee or service charge from the acquiring institution for Bangla QR transactions.

The Payment Systems Department-2 of Bangladesh Bank issued a circular letter on Monday, August 10. All scheduled banks, mobile financial service (MFS) providers, payment service providers (PSPs) and payment system operators (PSOs) operating in the country have been asked to comply with the new directive.

The central bank's circular stated that the IRF rate for all Bangla QR-based transactions has been set at zero with the aim of expanding the scope of digital transactions in the country. As a result, for any Bangla QR transaction, the issuing institution will not receive any money or service charge from the acquiring institution.

Bangladesh Bank said the decision will take effect from October 1. At the same time, the instructions regarding Bangla QR transactions issued in the Payment Systems Department's circular of February 6, 2025, will be considered amended as per the new decision.

Additionally, the relevant instructions of circular letter no. 05 issued by Payment Systems Department-2 on July 1 of this year will also be revoked from October 1. However, other provisions of that circular and previous instructions will remain unchanged.

Earlier, from July 1, Bangladesh Bank made the use of Bangla QR mandatory for business establishments. A single Bangla QR code allows merchants to receive payments from customers of various banks and mobile financial service providers. As a result, Bangla QR is being seen as a key infrastructure for expanding digital transactions across the country.

The new decision will reduce transaction costs among institutions involved in Bangla QR use. This is expected to further increase the use of digital transactions through QR codes at both merchant and consumer levels.