Dhaka:Bangladesh Bank (BB) has introduced a new person-to-person (P2P) transaction service in Bangla, aimed at simplifying the digital payment system. This development comes four months after the launch of a Customer-to-Merchant (C2M) Bangla QR platform, as announced in a central bank statement.
According to Bangladesh Sangbad Sangstha, the P2P service allows individuals to transfer money by scanning the recipient's QR code, ensuring easier, quicker, and more secure transactions. This method eliminates the need for manually entering the recipient's mobile phone or bank account number, streamlining the process by requiring only a QR code scan and necessary information verification.
Central bank officials have indicated that this initiative is anticipated to enhance convenience in daily P2P digital money transfers. It is also expected to reduce reliance on cash handling and promote broader adoption of digital payment methods.
The statement further emphasized that the new service is likely to play a significant role in making the nation's payment system more inclusive while encouraging a transition towards cashless transactions.