Bangladesh unifies QR payments to reduce cash dependence

Bangladesh has launched an interoperable QR payment system, Bangla QR, aiming to reduce cash dependence and enhance financial inclusion. This system allows customers from various banks and mobile financial services to pay merchants by scanning a single QR code.

It addresses the incompatibilities of previous payment systems, promoting a cashless economy. The initiative is expected to increase tax revenue and formalize the country's large informal economy.