QR Code Transaction and Applicable 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 (iUPI) & UnionPay International Transactions
To expand the domestic QR payment ecosystem & to promote cross border payments, the Bank of Bhutan introduces iUPI and UnionPay International payment mechanism, leveraging the existing common QR code framework of Royal Monetary Authority. The QR codes issued by Bank of Bhutan is powered to accept payments using iUPI-enabled and UnionPay International mobile banking App, offering instant and seamless experience both for the customers and the merchants.
However, customer need to enable/activate international payment on their UPI or UnionPay 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 the transaction:
| Transaction Amount | Per Transaction Fee on Amount | Transaction Type |
|---|---|---|
| ≤ Nu. 2,000 | 0.90% | iUPI (India) |
| > Nu. 2,000 | 1.2% | |
| ≤ USD 140* or Daily MCC** | 0.60% | UnionPay International (China) |
| > USD 140 or Non-Daily MCC | 1.20% |
**MCC refers to the Merchant Category Code, a four-digit number used to classify businesses based on the type of goods or services they provide, as per the International Organization for Standardization (ISO). Daily MCC refer to MCCs associated with goods or services that people commonly spend money on daily or frequently. While non-daily MCC codes refer to MCCs associated with less frequent or discretionary spending.
The fees 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 & DK) and through UPI-enabled and UnionPay International Apps.