Regulatory Alerts2022-03-22
Added
PSD Circular Letter No. 01: Providing permission for Card-based payments through Contactless Payment Service using NFC technology
Bangladesh Bank authorizes all scheduled banks, mobile financial services providers, payment service providers, and payment system operators to conduct card-based payments using NFC technology for EMVCo Compliant debit and prepaid cards. Each NFC-based debit or prepaid card transaction is capped at BDT 3,000, and within this limit, the mandatory use of PIN/2FA is relaxed, though immediate SMS alerts to customers are required. Card issuing institutions may also determine the maximum number of daily transactions per card. These instructions are effective immediately, with other provisions of PSD Circular No. 03/2018 remaining applicable.
Topics
Share