Govt to launch unified digital payment system
Banks, MFS accounts to become interconnected
22nd January, 2021 10:48:39
The government will launch a digital transaction platform with unified payment interface to support interoperable services among all accounts of traditional banks and mobile financial services (MFS).
The platform will enable cross-platform transactions irrespective of banks or mobile financial services as well as making any bill payment.
The ICT Division is now piloting the system titled Interoperable Digital Transaction Platform (IDTP) covering 57 banks, 15 mobile financial services (MFS) providers and other digital payment services, an official involved in the development said.
“We are testing the system now. It takes time to complete such projects. An MFS provider and a digital wallet application completed the testing. Some 10 banks are expected to complete the piloting by 30th this month (January). The system will help make real-time transaction irrespective of banks and MSF accounts,” Syed Mojibul Huq, additional secretary at ICT Division told the Daily Sun.