City Bank, the largest credit card player in Bangladesh with a 35 percent market share, launched interoperable QR based payment solution with four payment schemes in one QR code: American Express, UnionPay, Mastercard and Visa.
By launching the service, City Bank becomes the first bank in Bangladesh to launch Interoperable QR having three-pronged benefits, said a press release.First, customers will not need to scan separate QR codes of different payment networks. Second, merchants will only need to display one QR code at the storefront, so there will be no cluttering of space. Third, City Bank QR code can be scanned by inbound customers visiting Bangladesh from other countries making it a global interoperable solution.
City Bank truly believes that an interoperable QR platform will play an essential part in paving the way for Bangladesh’s transition to a cashless society.