Bangla QR has the potential to bring millions of small merchants into the formal financial system, but achieving nationwide adoption will require affordable transaction costs, stronger digital infrastructure, robust cybersecurity and coordinated policy support
Bangladesh is at an important stage in its digital payments journey. While cash continues to dominate everyday transactions, platforms such as Bangla QR have the potential to fundamentally change how businesses operate, particularly for small merchants who have long remained outside the formal financial system.
The most immediate benefit of Bangla QR is that it makes business transactions safer and more efficient. Small retailers no longer have to deal with the risks associated with handling large volumes of cash, whether it is counterfeit notes, damaged currency or the constant challenge of keeping enough change. Digital payments also reduce the need to transport or store cash, giving merchants greater security and convenience.
More importantly, every digital transaction leaves behind a verified financial record. For many small businesses that have traditionally operated entirely in cash, this creates an opportunity that extends well beyond payments. A documented transaction history allows banks to better assess a business’s financial performance and creditworthiness, opening the door to formal financing and SME loans that were previously difficult to access.
At BRAC Bank, we have been working to accelerate this transition by investing heavily in digital banking infrastructure. A reliable, secure and user-friendly payment platform is essential for widespread QR adoption, which is why we continue to strengthen Astha, our mobile banking application.
Today, Astha facilitates more than Tk25,000 crore in transactions every month. QR payments have been available through the platform for some time, and we are continuously enhancing the app to provide an even smoother Bangla QR experience.
Our efforts extend well beyond technology. Through our subsidiary bKash, we are connected to the country’s largest Bangla QR merchant network, while BRAC Bank itself is rapidly expanding QR acceptance across retail, SME and corporate customers.
We have made Bangla QR onboarding mandatory for new SME account holders, ensuring that more businesses enter the digital payments ecosystem from the very beginning. We have also partnered with leading pharmaceutical companies so that pharmacies purchasing medicines through these companies can conveniently make payments using Bangla QR. Alongside expanding the network, we continue to introduce incentives and promotional campaigns for both merchants and customers to encourage greater adoption.
Despite this progress, several challenges remain.
Perhaps the biggest obstacle is changing merchant behaviour. Many small retailers still do not maintain…
Read More: BRAC Bank set to lead the banking industry in Bangla QR transactions
