To make digital transactions more popular, Bangladesh Bank has brought the Interchange Reimbursement Fee (IRF) down to zero for Bangla QR code-based payments. At the same time, the central bank has decided to provide incentives to small and marginal businesses and service providers for small-value transactions conducted through Bangla QR.
In a circular issued today (Monday), it is stated that the IRF rate has been fixed at zero for Bangla QR-based transactions with a view to expanding digital transactions. As a result, in the case of any Bangla QR transaction, the issuing institution will not receive any fee or service charge from the acquiring institution.
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These decisions will become effective from next 1 October. In this regard, the instruction related to Bangla QR code-based transactions dated 6 February 2025 will remain unchanged except as amended.
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Meanwhile, Bangladesh Bank has rescinded the instructions of the circular issued on 1 July regarding determination of fees/charges for transactions conducted through the NPSB and government payments via card schemes.
