Bangladesh Bank has announced incentives for banks and payment service providers to encourage wider use of Bangla QR code-based transactions among small and marginal businesses and service providers.
On Sunday (September 27), the central bank’s Payment Systems Department (PSD) issued a notification outlining the new incentive arrangement.
Under the new rules, acquiring institutions will receive an incentive of 0.10 percent and issuing institutions 0.20 percent for each Bangla QR transaction of up to Tk 2,000 processed through the National Payment Switch Bangladesh (NPSB) platform.
The incentive will be paid monthly for transactions made by small and marginal sellers and service providers linked to personal retail accounts, as well as other merchants holding valid trade licences.
Bangladesh Bank said the new provision replaces the relevant provision of an earlier notification issued on August 10 as part of efforts to increase the use of Bangla QR-based transactions.
All other terms and conditions mentioned in the previous notification will remain unchanged.
-AH