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’, said a press release.
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.