Bangladesh Bank (BB) today launched a person-to-person (P2P) transaction service in Bangla, easING the digital payment system, four months after introducing a Customer-to-Merchant (C2M) Bangla QR platform, a central bank statement said.
It said individuals could transfer money to another person by scanning the recipient’s QR code in an easier, quicker and secured way using the new service,.
“The service eliminates one’s need to manually enter the recipient’s mobile phone number or bank account number to send money. Instead, users can complete transactions by scanning recipient’s QR code and verifying the required information,” the statement said.
The central bank officials said the initiative was expected to make P2P digital money transfers more convenient in everyday transactions alongside reducing people’s dependence on cash handling and encouraging wider use of digital payment methods.
The statement said the initiative was expected to play an important role in making the country’s payment system more inclusive and promoting cashless transactions.
