Small traders, footpath vendors to be brought under Bangla QR transactions: Finance Minister

Finance Minister Amir Khasru Mahmud Chowdhury has said no fee will be charged for Bangla QR code-based transactions to build a cashless Bangladesh and a digital economy. Under the government's initiative, any transaction through QR code can be done completely free of cost.

The Finance Minister inaugurated the purchase of goods using the Bangla QR code at the Banani Kacha Bazar in the capital on Thursday. The information was conveyed in a press release sent by the Ministry of Finance.

Finance Minister Amir Khasru Mahmud Chowdhury said people from all walks of life, including fuchka sellers, rickshaw pullers and small traders, will be brought under QR code-based digital financial services. Through this system, any small trader, from a footpath vendor upwards, can very easily receive money in any bank or service provider's account using a QR code.

According to the minister, as a result, people will no longer have to carry cash with difficulty. At the same time, the transaction process will become easier and faster.

The Finance Minister said cashless transactions have become established as easy and safe in many developed and fast-growing economies around the world. Bangladesh Bank is also working with the aim of universalising this international practice in the country.