Business Desk :
City Bank Limited launched interoperable QR based payment solution with four payment schemes in one QR code: American Express, UnionPay, Mastercard and Visa. By launching this service, the bank becomes the first bank in Bangladesh to launch Interoperable QR having three-pronged benefits. First, customers will not need to scan separate QR codes of different payment networks. Second, merchants will only need to display one QR code at the storefront, so there will be no cluttering of space. Third, City Bank QR code can be scanned by inbound customers visiting Bangladesh from other countries making it a global interoperable solution, said a press release.
Customers will need to download and use Citytouch- City Bank’s mobile banking app and set any of their credit, debit or prepaid cards as the default payment option to scan and pay by QR codes displayed at merchants.
Interoperability with multiple schemes coupled with ‘no-contact’ payments during this pandemic will drive swift adoption by smart phone users.
City Bank truly believes that an interoperable QR platform will play an essential part in paving the way for Bangladesh’s transition to a cashless society.
