In a bid to accelerate Bangladesh Bank's (BB's) universal 'Bangla QR' payment initiative and enhance the cashless transaction ecosystem, bKash has organized a series of view-exchange sessions with merchants across the country. These sessions aim to educate merchants on the benefits of adopting digital payments and the Bangla QR system.
Merchant Engagement and Benefits
Around 1,500 bKash merchants have participated in these sessions held across 97 zones. The discussions focused on how merchants can grow their businesses by embracing digital payments. By adopting Bangla QR, merchants can receive payments directly into their accounts, reducing the risks associated with handling cash and simplifying transaction processes.
Moreover, the adoption of Bangla QR enhances transaction transparency and streamlines business bookkeeping. It also provides an opportunity to assess the creditworthiness of individual merchants through transaction analysis, enabling micro and small entrepreneurs to access instant, collateral-free digital loans to address working capital shortages.
Consumer Benefits and Awareness Campaigns
Merchants were also informed about 'Digital Payment Speakers' installed at merchant points for faster payment confirmation. These speakers provide immediate audio confirmation of payment amounts and transaction success, eliminating the need for manual verification.
For consumers, scanning Bangla QR codes offers access to 'Pay Later', a collateral-free credit facility that allows instant purchases even with insufficient account balances. Customers can also make payments using Visa cards linked to their bKash app or add money from an extensive network of partner banks.
To further drive the expansion and acceptance of Bangla QR, bKash is conducting awareness campaigns across traditional markets and major commercial centers. These efforts include constructing branded archways, installing promotional materials, and making localized public announcements.
Notably, bKash has already replaced regular QR codes with Bangla QR at over 800,000 merchants nationwide, ranging from grocery stores to pharmacies, restaurants, lifestyle shops, and superstores. This initiative has significantly boosted merchant payments, generating average daily transactions worth over Taka 2 billion.
