Bangladesh Bank and the Dhaka North City Corporation (DNCC) on Monday announced its collaboration with Mastercard to inaugurate the Cashless Khilgaon Taltola City Corporation Supermarket.
Closely aligned with the government’s Smart Bangladesh vision, the initiative will enable 1047 small and large merchants or businesses with digital payments acceptance infrastructure.
Merchants at Khilgaon Taltola City Corporation City Corporation Supermarket will now be able to accept payments through Bangla QR and POS machines, allowing them to create a digital footprint for their business and get access to formal financial services.
At the same time, consumers will be able to make quick and secure digital payments through cards, bank apps, and MFS wallet.
Atiqul Islam, mayor of Dhaka North City Corporation said: “Prime Minister Sheikh Hasina has a long-term vision for achieving a cashless ecosystem. DNCC is working with a smart transaction system in Smart Bangladesh. We have already launched online holding tax and online trade license facilities. Citizens can avail themselves of these services at the convenience of their homes.”
“DNCC has initiated to transform the DNCC-1 market in Gulshan into the country's first cashless market by empowering more than 1,200 merchants through a digital payment ecosystem. Today at Khilgaon, we are continuing to empower more people with superior payment technologies that are crucial to achieving the ‘Smart Bangladesh’ vision. Together, we will continue transforming more markets into the digital ecosystem,” he continued.
Vikas Varma, chief operating officer, South Asia at Mastercard expressed optimism about Bangladesh's transition to a cashless future. He emphasized the importance of initiatives like the one at Khilgaon Taltola City Corporation Supermarket in encouraging both merchants and consumers to adopt digital payments.
The other partners in the Cashless Khilgaon Taltola City Corporation Super Market initiative include City Bank PLC, Mutual Trust Bank PLC, and SSL Commerz.
The event was also attended by Sharafat Ullah Khan, director of the Payment Systems Department, Bangladesh Bank, Syed Mohammad Kamal, country manager, Bangladesh at Mastercard, Md Shafquat Hossain, deputy managing director, Mutual Trust Bank PLC, and Arup Haider, head of Retail, The City Bank plc.