Regulatory Alerts2026-04-01
PSD-1 Circular Letter No. 01: Replacement of Proprietary QR with Bangla QR at all Merchant Points
Bangladesh Bank has issued PSD-1 Circular Letter No. 01 mandating all commercial banks, mobile financial service providers, payment service providers, and payment system operators to replace all proprietary QR codes with the unified 'Bangla QR' at every merchant point on or before 30 June 2026. The directive requires institutions to ensure uninterrupted channel functionality through necessary technical support and interoperability, while enforcing regular monitoring to guarantee customer exposure and prohibiting the operation of competing payment channels at the same merchant locations. Issued under Section 18(2) of the Payment and Settlement Act, 2024, the circular stipulates strict compliance and outlines that violations will trigger appropriate legal action under Section 37(5) of the Act and related regulations.