Incentive to be given for transactions up to Tk 2,000 through Bangla QR

Bangladesh Bank has decided to provide new incentive to increase digital transactions through Bangla QR code. According to the new directive, incentive will be given at the rate of 0.10 percent to the acquiring institution and 0.20 percent to the issuing institution against each transaction of up to Tk 2,000 using Bangla QR.

Payment Systems Department-2 of Bangladesh Bank has issued a circular in this regard on Sunday. This directive will be applicable for all scheduled banks, mobile financial service providing institutions, payment service providers, payment system operators and international payment schemes operating in the country.

According to the circular, this incentive will be given on monthly basis for Bangla QR-based transactions of up to Tk 2,000 completed through National Payment Switch Bangladesh. Under this facility registered small and marginal sellers and service providing merchant points through individual retail accounts as well as other merchants holding trade licence will also remain.

As a result the scope of incentive in Bangla QR transactions has increased compared to before. Earlier Bangladesh Bank had introduced incentive in Bangla QR transactions through a circular letter issued on August 10. At that time this facility was limited to certain small and marginal sellers and service providing merchant points.

In the new circular the related paragraph of the previous directive has been changed and other merchants holding trade licence have also been brought under the incentive. As a result besides small and marginal traders a wider range of business establishments holding trade licence will come under this facility.

Bangladesh Bank has said other directives of the previous circular letter will remain unchanged except the conditions mentioned in the newly replaced paragraph.

The circular signed by director of Payment Systems Department-2 of Bangladesh Bank Md Sharafat Ullah Khan has been sent to all concerned institutions.