Mastercard and payment gateway aggregator SSLCOMMERZ, in collaboration with Mutual Trust Bank Limited (MTB), have launched the first white-label Quick Response (QR) acquiring platform to provide mass level ‘BanglaQR’ in Bangladesh. The mass level QR is an interoperable code-based payment acceptance solution that will bring more micro-merchants under the BanglaQR network, advancing the nation’s progress towards becoming a ‘Less Cash Society’.
In 2019, Mastercard and MTB pioneered BanglaQR through MTB’s mobile banking app. With today’s launch, QR-based payments will be more flexible and convenient for users as they will be able to carry out real-time contactless transactions using any Mastercard.
The mass Level QR acceptance solution will enable Mastercard cardholders to make QR code-based payments more easily and quickly via the ‘scan to pay’ option on SSL’s white-label acquiring solution which will cover merchants across the country. To complete the transaction, users access the Mastercard QR option on their bank’s app and scan the code displayed at the merchant’s website or checkout counter. Users then enter the amount that they wish to pay to complete the payment.
Sayeeful Islam, Managing Director, SSLCOMMERZ, said, “This ceremony is the beginning of a new chapter. SSLCOMMERZ, the largest payment solution provider in Bangladesh, has always provided the most advanced digital payment solutions to help businesses in the country. I am very delighted to announce that Mastercard and MTB have also joined us in this journey. QR Payment is an advanced and safe digital payment system. It’s so easy to use that sellers do not even have to keep any electric-powered device or printer in the store. All they need from the customer is the QR code on a piece of paper, which they can scan with their phone’s camera. We dream that a buyer will be able to pay their neighborhood grocery store bills or even as small as the street-side tea stall bills by using QR. Because even if a customer is not carrying his/her debit or credit card, they can still easily make their payments from the bank’s app on their mobile phone, which they always carry with them. The QR payment service will directly benefit millions of small and medium entrepreneurs, suppliers, distributors, and factory owners from all across the country. We hope to turn this dream into reality, not just in Dhaka; but across the entire country very soon.”
Syed Mahbubur Rahman, Group MD & CEO, Mutual Trust Bank Limited, said, “We are thrilled to collaborate with Mastercard and SSLCOMMERZ on this revolutionary initiative. In pursuit of the Digital Bangladesh vision of our government, we believe this endeavor will facilitate convenience for valued customers with transactional efficiency.”
Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard said, “Mastercard is pleased to partner with SSLCOMMERZ and Mutual Trust Bank Limited to enable QR code-based acceptance solutions that will enable cardholders to process their daily transactions in a more convenient and faster way. As a trusted partner on the country’s progressive journey, Mastercard will continue to introduce technology-driven solutions and simple, smart and secure contactless payment options.”
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