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The Financial Express

Banks, NBFIs asked to operate interbank card transactions thru NPSB

| Updated: December 22, 2017 19:09:21


Banks, NBFIs asked to operate interbank card transactions thru NPSB

The central bank has asked the all the banks and NBFIs to connect their established Point of Sale (POS) with the National Payment Switch of Bangladesh (NPSB) by December 2018.

The banks and NBFIs (non-bank financial institutions) were also asked to operate the interbank card transactions through NPSB.

Bangladesh Bank (BB) instructed the banks and FIs to implement the order immediately, said a BB circular on Thursday.

BB launched the POS for settling interbank transactions through credit and debit cards, reports BSS.

With launching of the system, banks will settle their card transactions online using the NPSB, an automated common platform of BB for all banks to settle all interbank transactions.

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