What is Bangla QR Payment? Know the Benefits and Uses of Bangla QR
The use of cash is gradually decreasing, payments are made through digital means. At present, even in our country, big transactions are done through digital channels. Because it works easily, safely and quickly. However, digital transactions are still mostly done in cash for smaller transactions. To reduce this use of cash, Bangladesh Bank has launched a new payment system 'Bangla QR' or Bangla QR technology.
In this age of smartphones, most of us know about QR codes. The full meaning of QR is Quick Response Code. That is, various tasks can be completed easily and quickly from a visible code using the smartphone camera. And because it works very fast, it is seen to be most used in the field of payments. Use this code to make quick payments accurately through the camera itself.
Various digital payment service providers in our country have been providing fast payment facilities through the use of their own QR codes for a long time. Almost every bank and MFS service uses its own QR for payment at shops or outlets. Bangladesh Bank wants to bring the use of these different QR codes into one system for the convenience of customers.
That is, by using a QR code, Bangla QR will bring the convenience that you can pay quickly from your preferred bank, card or MFS. This will free the customers from using separate QR codes for different digital payment systems. Today's post will have a detailed discussion about Bangla QR. Also, you can learn about how to use Bangla QR from the entire post.
What is Bangla QR ?
Bangla QR was developed in 2019 in collaboration with SSLCommerce under the supervision of Bangladesh Bank. The main objective of Bangla QR is to bring together all the digital payment methods of Bangladesh. Bangladesh Bank has already issued instructions to bring all digital payment systems into Bangla QR. As a result, anyone can accept or give payments on a single platform.
Bangla QR is a QR code payment system. That is, by scanning the QR code of Bangla QR, you can easily pay from the digital payment service of your choice. By using this QR you can easily scan the code and make payment regardless of the digital payment service you are using.
However, currently, various digital payment services have not fully launched this service yet. So one has to wait some more time to enjoy its full benefits. Currently, this facility has been introduced in various front line banks like Eastern Bank, City Bank, Bank Asia. Besides, payment can also be made with Visa, MasterCard and UnionPay cards. Besides, mobile banking service Bikash has also added this service to their app. However, it is expected that all digital banking services will launch this service very soon.
Benefits of Bangla QR
By using Bangla QR you don't need to keep balance in specific wallet. You can pay quickly from any card as it can also be paid by card. Moreover, you can easily use the money in various digital channels at any store, there is no need to transfer it to any other popular wallet. As a result, the volume of transactions in all types of digital payment systems will increase. Digital payments can be made quickly and easily using smartphones. As a result the payment will be secure and there will be no fear of losing the money. You can easily buy any product without cash.
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The biggest thing is that you don't have to pay any extra charges or expenses for this service. Keeping track of your expenses will also become much easier. As Bangladesh Bank has its own system, the payment will be completely safe, no one will know your card or bank information. By making payments using the same channel, you can keep money in the digital wallet of your choice.
Bangla QR will not only bring benefits to customers, but it will also bring great benefits to merchants or sellers. Payments received from all digital payment services can be accounted for and received through one account. There will be less reluctance to take digital payments as all services are available at the same place. Recently, Bangladesh Bank has also lifted the payment limit through Bangla QR. As a result, payments of any amount will now be possible through this service. This system of digital payment will bring many benefits to both buyers and sellers.
Bangla QR will bring a different tide to the country's digital payment system. Because very soon all digital payment services will have to provide this service. As a result, a large number of digital banking customers can now make payments through the same channel. People who used to consider digital payments as an extra hassle will also become interested in using it.
How to use Bangla QR?
Bangla QR can be used very easily. Every digital payment service should support this QR code. As a result, the digital banks which were using separate QR system for a long time will have to keep this new QR system. As a result, any bank app or MFS app will have separate options for Bangla QR.
To use it, you first need to install an app on the smartphone that supports Bangla QR. Then scan the Bangla QR code in any shop or outlet from that app. After that you can input the amount to be paid. From here onwards an OTP will be sent to your mobile to confirm the payment. Just enter the OTP code and the payment will be completed quickly. The merchant or seller can receive this payment directly into their bank account.
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The whole service is very fast, safe and easy. Currently in Bikash app you will see a separate option for using Bangla QR. Various bank apps are also adding this service. As a result, you will get this option in many more apps and mobile banking services.
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Bangla QR will play a very important role in bringing all digital payment systems under one umbrella. In the future, if this service is fully implemented as per the guidelines of Bangladesh Bank, we will see the beginning of a new era in the field of digital payments. If all payments can be done digitally without carrying cash, transactions will be more secure. This is a very important step towards making the payment system completely digital.
