Tuesday
October 1
2019

With Bangladesh on Visa’s Target List, Credit Card QR Codes Are Here, There, and Everywhere

By Brian Riley

QR codes brought credit card and debit card payments to large, promising markets such as China, India, and Mexico through retailers such as Alipay, WeChat Pay, Paytm, and Mercado Libre. The acceptance model is now being offered to markets previously considered too weak or too unbanked.

The Daily Star (Bangladesh) reports on Visa’s move to include the country of Bangladesh in QR acceptance.

The World Bank indicates 0% penetration of credit cards and only 6% debit card usage in this country. In progressive, emerging markets, debit card usage is closer to 30%, and credit card usage is at least in single digits, indicating at least some progress in financial inclusion.

Photo courtesy of mohamed_hasan.

Source: Payments Journal (link opens in a new window)

Categories
Finance
Tags
emerging markets, financial inclusion, financial services