PSD Circular Letter No. 01: Providing permission for Card-based payments through Contactless Payment Service using NFC technology — BB — BD

Managing Director/Chief Executive Officer
All Scheduled Banks/Mobile Financial Services Providers/ Payment Service Providers/Payment System Operators operating in Bangladesh

Dear Sir/Madam,

Subject: Regarding permission for Card-based payments through Contactless Payment Service using Near Field Communication (NFC) technology.

The use of Contactless Payment Service through credit cards using NFC technology has become popular due to the ease and speed of card transactions with NFC technology. Considering customer demand, it is expected that the adoption of NFC technology for debit and prepaid card transactions, in addition to credit cards, will increase electronic transactions. In this context, in continuation of PSD Circular No. 03/2018 and serial No. 3(d) of PSD Circular No. 04/2021 on the subject mentioned in the title, the following instructions are issued:

EMVCo Compliant debit and prepaid cards can be used for transactions using NFC technology.
The maximum limit for each debit and prepaid card-based transaction conducted through NFC technology is set at BDT 3,000.00 (Taka Three Thousand) only. Within this limit, the mandatory use of PIN/2FA for NFC technology-based card transactions is also relaxed. However, information about each such transaction must be immediately notified to the customer through SMS alert service.
Card issuing banks/institutions may determine the maximum number of daily transactions conducted on a single card through NFC technology.
For debit and prepaid card-based transactions conducted through NFC technology, other instructions of PSD Circular No. 03/2018 dated 12/07/2018 will be applicable.

These instructions will be effective immediately.

Yours faithfully,
(Md. Mezbaul Haque)
General Manager
Phone: 9530174
Payment Systems Department
Bangladesh Bank
Head Office
Dhaka

PSD Circular Letter No: 01 08 Chaitra, 1428
Date: -------------------
22 March, 2022

Lineage: No known changes

RegAlert holds no document that amends or replaces this one. This is not a check that it is in force: confirm with the regulator.

amendssupersedesissued underrefers todashed card: not in RegAlert (or proposed)arrows run from the older text to the one that changes it

The links and the sentences they come from (3)

Amends

PSD Circular No. 3 of 2018Not in RegAlert
“d transactions, in addition to credit cards, will increase electronic transactions. In this context, in continuation of PSD Circular No. 03/2018 and serial No. 3(d) of PSD Circular No. 04/2021 on the”

Issued under

PSD Circular No. 3 dated 2018-07-12Not in RegAlert
“in continuation of PSD Circular No. 03/2018 and serial No. 3(d) of PSD Circular No. 04/2021 on the subject mentioned in the title”
PSD Circular No. 4 of 2021Not in RegAlert
“l increase electronic transactions. In this context, in continuation of PSD Circular No. 03/2018 and serial No. 3(d) of PSD Circular No. 04/2021 on the subject mentioned in the title, the following i”

Lineage: No known changes

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