Dhaka, Bangladesh – August 31, 2021 – the largest payment gateway aggregator SSLCOMMERZ, in collaboration with Mastercard and Mutual Trust Bank Limited (MTB), have launched the first white label Quick Response (QR) acquiring platform to provide mass level acceptance of ‘BanglaQR’ payments in Bangladesh. The Bangla QR is an interoperable code-based digital payment acceptance solution that will bring more micro, small and medium merchants under the payment network, advancing the nation’s progress towards becoming a ‘Less Cash Society’.
MD Mezbaul Haque, General Manager, Payment Systems Department, Bangladesh Bank was present as the chief guest at the virtual inauguration ceremony.
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 QR code displayed at the merchant’s website or checkout counter. Users then enter the amount that they wish to pay to complete the payment. The QR payment method was broadcasted live at the event from Dhaka’s Mohammadpur Townhall and Chawkbazar area.
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 producers 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 customer 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.”
Also Ahmed Kamal Chowdhury, Advisor, SSL Wireless; Syed Rafiqul Haq, CBO & AMD, Mutual Trust Bank Limited; Vikas Saraogi, Vice President, Business Development (International Markets), Mastercard; Zakia Sultana, Director, Mastercard (Bangladesh); ShyamolBoran Das, Head of Digital Banking, Mutual Trust Bank Limited; Shafquat Hossain, Head of SME & Retail, Mutual Trust Bank Limited along with senior officers from all the partner organizations were present at the virtual event as well.
From the field, two live transactions were shown as part of the launch.Deputy CTO of SSLCOMMERZ Md. Iftekhar Alam Ishaque and Rabiul Alam, Head of ADC of Mutual Trust Bank Limited were directly connected from Mohammadpur Townhall Market. In the second location, Deputy COO of SSLCOMMERZ Osaid Shahan Rahman and Manager, Acquiring of Mutual Trust Bank Limited Nazim Ahmed and Begum Bazar Banik Samiti representative Md. Billalwere directly connected from the Chawkbazar area of Old Dhaka.