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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 irrespect
Govt to launch unified digital payment system
Banks, MFS accounts to become interconnected
Jannatul Islam
21st January, 2021 10:32:41
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 tran
MFS providers charge fees at their whim
Sohel Hossain Patwary and Jannatul Islam
27th December, 2020 09:42:03
Mobile financial services (MFS) providers are charging customers at their whim as there is no policy guideline on uniformity of charges, creating an unhealthy competition in the market.
Despite the huge popularity of mobile financial services over the last decade, different MFS providers are still charging customers at different rates.
Of the current 15 service providers, customers are being charged up to Tk 18.50 to lowest Tk 9.99 for Tk 1000 cash-out, making the customers unhappy from the very beginning.
The regulatory body cannot control market price in financial services for the dynamics of service systems, said a top official of Bangladesh Bank preferring anonymity.