QR Code Transaction and Charges
The Bank of Bhutan became the first bank in Bhutan to develop and launch its proprietary QR code in 2017. Further, in 2020 the bank in collaboration with Royal Monetary Authority of Bhutan launched National QR code, making the QR codes interoperable & capable of accepting payments through mobile banking/wallet applications provided by the domestic banks in Bhutan.
Unified Payments Interface (UPI)
In an effort to expand the domestic QR payment ecosystem & to promote cross border payments, the Bank of Bhutan introduces a UPI payment mechanism, leveraging the existing common QR code framework provided by Royal Monetary Authority. The QR codes issued by Bank of Bhutan is powered to accept payments using UPI-enabled mobile banking Apps, offering instant and seamless experience both for the customers and the merchants.
However, customer need to enable/activate international payment on their UPI App and scan merchant’s QR code to pay in Bhutan.
Transaction Charges
The following transaction fees/charges shall be payable by merchants when accepting UPI transactions:
- Fee of 0.90% per transaction on the amount for transaction of Nu. 2,000 & less.
- Fee of 1.2% per transaction on the amount for transaction of more than Nu. 2,000.
The fees are payable to National Payments Corporation of India (NPCI) in full and are subject to change from time to time in the future.
Merchants using the existing national QR codes can continue to receive payments both through mobile banking/wallet applications offered by domestic banks (BNBL, TBank, BDBL, DPNB and DK) and also through UPI-enabled mobile Apps of India.