BB launches QR-based person-to-person payments

The Bangladesh Bank has launched a person-to-person (P2P) QR payment service, allowing users to transfer money by scanning a recipient’s QR code instead of manually entering a mobile phone or bank account number.

The service, launched on Sunday, aims to make everyday digital payments quicker and easier, four months after the central bank introduced its Customer-to-Merchant (C2M) Bangla QR platform, according to a BB statement.

Users can complete transfers by scanning the recipient’s QR code and verifying the transaction details, removing the need to enter account information manually.

The initiative is expected to make money transfers more convenient, reduce reliance on cash and encourage wider use of digital payments.

BB expects the service to promote financial inclusion and accelerate the country’s transition towards a cashless payment system.