City Bank has launched the country’s first interoperable QR code payments solution in collaboration with Compass Plus.
The new solution brings together four key international payments networks – American Express, Visa, Mastercard and UnionPay – in one QR code.
The launch will not only benefit consumers, by ensuring they no longer have to scan different QR codes at the checkout depending on the payment network and card they wish to use, but will also benefit merchants, who will now only have to display one QR code in-store as opposed to four. This solution also caters to foreign customers travelling to Bangladesh.
QR based payments will enable City Bank to perform contactless payments through a single point digital solution and they will not be required to carry different plastic cards to perform transactions in store.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now