To make digital transactions safer, more transparent, and more customer-friendly, Bangladesh Bank has issued new guidelines for resolving disputes in Bangla QR (merchant payment) transactions.
The Payment Systems Department of the central bank issued a circular in this regard yesterday.
The guidelines will take effect on December 1.
According to the "Guidelines on Dispute Resolution for Bangla QR (Merchant Payment) Transactions," customers will not need to lodge a separate complaint for failed transactions. Once the system confirms a transaction failure, the money will be refunded automatically. If an immediate refund is not possible, it must be completed within a maximum of 30 minutes.
General disputes between customers and merchants using the same bank or MFS (Mobile Financial Services) provider must be resolved within three working days.
Meanwhile, transaction disputes involving different institutions will be settled through the NPSB's central Dispute Management System.
Customers can lodge complaints within 45 days of the transaction.
The issuing institution must communicate its decision within two working days.
The entire dispute resolution process, including chargebacks and arbitration if necessary, must be completed within a maximum of 30 days.
Additionally, in cases of QR code tampering, fraud, or unauthorized transactions, investigations must be completed within 30 days, and necessary refunds or compensation must be arranged.
Bangladesh Bank will take action under the Payment and Settlement Systems Act, 2024 for non-compliance with these directions.
