BRAC Bank has introduced cashless payment services at Diabari and Kamalapur cattle markets in Dhaka to facilitate withdrawal and deposit of money for buyers and traders.
It has installed Digital Payment Booths at both cattle markets as part of a cashless initiative of Bangladesh Bank. Bangladesh Bank has made BRAC Bank as the Lead Bank at Diabari and Kamalapur cattle markets.
At the BRAC Bank booths, the buyers and traders can withdraw and deposit to bank accounts or Mobile Financial Services (MFS), send and receive money to and from any bank, make payments through Bangla QR and POS machine, instantly open bank account and detect fake notes and avail of Agent Banking services on a 24/7 basis.
These booths enable cattle traders to securely deposit sales proceeds into banks, thereby reducing the risk associated with using cash, according to a press release.
At the same time, buyers are also becoming accustomed to fast and secure digital payments.
Dhaka North City Corporation and Dhaka South City Corporation are partners of the cashless payment initiative.