Dhaka: Mutual Trust Bank Limited, in collaboration with Mastercard, announced the launch of 'Bangla QR', an interoperable Quick Response (QR) code-based payment acceptance solution, through a ceremony held at a city hotel recently.
Making its debut in the country, Bangla QR will allow cardholders using Mastercard branded credit, debit and prepaid cards issued by Mutual Trust Bank (MTB) to carry out payments merely using a QR code generated by the MTB mobile banking application.
Speaking on the occasion, Syed Mahbubur Rahman, Managing Director and CEO, Mutual Trust Bank Limited (MTB) said, 'MTB is excited to be able to provide its customers with a faster and more convenient method of payment. With a quick scan of the QR code generated by the MTB app, our cardholders will be able to experience convenience, unlike never before.'
Ahmed Jamal, Deputy Governor of Bangladesh Bank attended the launch event as the Chief Guest.
In due course, the interoperable solution will be accessed by other banks and payment networks as well. BanglaQR is country's National Interoperable QR approved by Bangladesh Bank.
With this latest technology, MTB Mastercard cardholders will now need to simply 'scan to pay' by accessing the Mastercard QR option on their MTB mobile banking apps and by scanning the QR code displayed at the merchant's checkout counter.
Cardholders will then have to enter the amount they wish to transact and enter their PIN, completing the payment with their debit, credit or prepaid cards issued by MTB.
By providing a quick, secure and innovative approach to transact, Mastercard's QR technology eliminates the need for consumers to carry cash and enhances the degree of convenience that users will enjoy.
'Mastercard is delighted to be the first payments network in Bangladesh to collaborate with a leading bank to launch the country's first Interoperable National QR code-based acceptance solution-BanglaQR. This fast, secure and convenient method of payment will be the first-of-its-kind in Bangladesh, marking an important milestone in the country's adoption of contactless payments,' said Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard.