To reduce cash handling and to enhance the smooth transaction of money amid the pandemic, banks are distributing the Bhutan Quick Response code or QR code to business entities in Phuentshogling.
The Royal Monetary Authority along with banks distributed the Bhutan QR code to nearly 250 vegetable vendors and shops today.
Bhutan QR code helps customer using any bank service to make the payment by scanning it. Since most vegetable vendors do not have such mobile banking services, they are supporting the move.
“I feel that it is a great initiative. We didn’t use such QR code before. Most vendors here don’t use mobile banking services and these days people rarely carry cash. We are thankful to the banks and the government for initiating the QR code here,” said Choki Wangmo, a vegetable vendor.
Changlam, another vendor said, “such services are very useful here. If we do not have such facilities here, some customers do not buy vegetables. People do ask whether we have a mobile banking system or not. So, I felt it is important to use the service”
The Quick Response codes were also distributed at fuel depots, restaurants and taxi drivers.
Within two weeks, the QR codes will be distributed to every business entity in the town.
“We do come across passengers who do not carry cash. Often when they give us Nu 500 denomination notes, we have to ask others for lower denomination currencies to return the balance amount to passengers. So, with such services, banks are doing a great favour to us,” said Rinzin Dorji, a taxi driver.
Nearly 150 Bhutan QR codes were distributed during the second lockdown to the retailers and wholesalers. Similarly, RMA plans to initiate it in other southern districts.
Bhutan QR code is Royal Monetary Authority’s one of the smart digital banking initiatives. It was launched in July last year.
Sonam Penjor, Phuentshogling
