Dhaka, Bangladesh – August 31, 2021 – Mastercard and payment gateway aggregator SSLCOMMERZ, in collaboration with Mutual Trust Bank Limited (MTB), have launched the first white label Quick Response (QR) acquiring platform to provide mass level ‘BanglaQR’ in Bangladesh. The mass level QR is an interoperable code-based payment acceptance solution that will bring more micro merchants under the BanglaQR network, advancing the nation’s progress towards becoming a ‘Less Cash Society’.
In 2019, Mastercard and MTB pioneered BanglaQR through MTB’s mobile banking app. With today’s launch, QR-based payments will be more flexible and convenient for users as they will be able to carry out real-time contactless transactions using any Mastercard.
The mass Level QR acceptance solution will enable Mastercard cardholders to make QR code-based payments more easily and quickly via the ‘scan to pay’ option on SSL’s white label acquiring solution which will cover merchants across the country. To complete the transaction, users access the Mastercard QR option on their bank’s app and scan the code displayed at the merchant’s website or checkout counter. Users then enter the amount that they wish to pay to complete the payment.
Sayeeful Islam, Managing Director, SSLCOMMERZ, said, “This ceremony is the beginning of a new chapter. SSLCOMMERZ, the largest payment solution provider in Bangladesh, has always provided the most advanced digital payment solutions to help businesses in the country. I am very delighted to announce that Mastercard and MTB have also joined us in this journey. QR Payment is an advanced and safe digital payment system. It’s so easy to use that sellers do not even have to keep any electric-powered device or printer in the store. All they need from the customer is the QR code on a piece of paper, which they can scan with their phone’s camera. We dream that a buyer will be able to pay their neighborhood grocery store bills or even as small as the street-side tea stall bills by using QR. Because even if a customer is not carrying his/her debit or credit card, they can still easily make their payments from the bank’s app on their mobile phone, which they always carry with them. The QR payment service will directly benefit millions of small and medium entrepreneurs, suppliers, distributors, and factory owners from all across the country. We hope to turn this dream into reality, not just in Dhaka; but across the entire country very soon.”
Syed Mahbubur Rahman, Group MD & CEO, Mutual Trust Bank Limited, said, “We are thrilled to collaborate with Mastercard and SSLCOMMERZ on this revolutionary initiative. In pursuit of the Digital Bangladesh vision of our government, we believe this endeavor will facilitate convenience for valued customer with transactional efficiency.”
Syed Mohammad Kamal, Country Manager, Bangladesh, Mastercard said, “Mastercard is pleased to partner with SSLCOMMERZ and Mutual Trust Bank Limited to enable QR code-based acceptance solutions that will enable cardholders to process their daily transactions in a more convenient and faster way. As a trusted partner on the country’s progressive journey, Mastercard will continue to introduce technology-driven solutions and simple, smart and secure contactless payment options.”
ENDS
About SSLCOMMERZ
SSLCOMMERZ is the largest payment aggregator in Bangladesh and a pioneer in the FinTech industry since 2010. They empower over 5000+ businesses by offering the best-in-class digital payment solutions which enable them to extend their businesses to accept digital payments across mobile and web platforms. SSLCOMMERZ is operating under the Payment Systems Operator (PSO) license of Bangladesh Bank, ISO 27001 and PCI-DSS compliant. The platform uses the latest 3D security capabilities along with fraud monitoring and detection systems. They are also using industry-standard EV SSL protocol in their gateway. They have a dedicated fraud control team and independent data centres along with a secondary disaster recovery site which minimizes the risk of failure, guarantees business continuity and security for all the user data.
About Mutual Trust Bank Limited
The Bank was incorporated as a Public Limited Company in 1999, under the Companies Act 1994. The vision of Mutual Trust Bank Limited, as expressed by the initiators was to build a perfect world-class bank in performance and by choice of the people. At the same time its mission was to be a client-oriented company equipped with cutting-edge technology and a dynamic work force. The Bank operates through its Head Office located in Dhaka with a country-wide network of 119 branches, 310+ ATMs and 164 Agent Banking Centres. Mutual Trust Bank Limited carries out international business through a Global Network of Foreign Correspondent Banks. MTB won the DHL-Daily Star Bangladesh Business Award as the Best Financial Institution of the Year 2014.
About Mastercard (NYSE: MA), www.mastercard.com
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
SSLCOMMERZ Contact
Zami-Ul Hasan, +8801819878630
Mutual Trust Bank Limited Contact
Azam Khan, +880 1713032994
Mastercard Contact
Marilyn Bristi Gomes, +880 9666930975
Agency Communications Contact
Samia Sultana, +880 1917707769
