D Money Bangladesh Limited (Dmoney) and Visa Worldwide Pte. Limited (Visa) have recently entered into an agreement at the Dmoney Head Office to enable QR payments through Visa cards and credentials.
Mr. TR Ramachandran, Group Country Manager, India & South Asia, Visa and Mr. Aref R Bashir, Co-Founder & Managing Director, Dmoney exchanged the agreement on behalf of their respective organizations. Ms. Sonia Bashir Kabir, Co-Founder, Vice Chairman & CEO, Dmoney, Mr. Soumya Basu, Director – Business Development, South Asia, Visa and other senior executives of both organizations were also present on this occasion.
Under this agreement, Dmoney will work on deployment of merchant presented EMVCo QR codes for payment through Visa payment credentials in the Bangladesh market. Any consumer with a Bangla QR supported mobile app and with a Visa payment credential (card) would be able to scan and pay using the Dmoney QR code. This will help millions of consumers to start paying through QR for daily purchases instead of using cash.
Mr. Aref R Bashir, Co-Founder and Managing Director of Dmoney said, ‘Dmoney is very excited to join hands with Visa to build a digital ecosystem in Bangladesh and work towards frictionless retail payments.’
TR Ramachandran, Group Country Manager, India & South Asia, Visa said, ‘For digital payments to grow exponentially in Bangladesh, there must be widespread acceptance. And the cost of acceptance can be brought down greatly by QR, enabling mass adoption by consumers, who are already familiar with QR payments.‘
He further added, ‘We strongly believe that QR will be a major growth driver for digital payments, unlocking new acceptance categories and geographies. We are excited to partner with Dmoney to enable QR payments through Visa, empowering millions of Visa cardholders to pay through QR codes.’