Regulatory Alerts2023-06-25
Added
PSD Circular No. 05: Ensuring uninterrupted ATM, POS, QR Code, Internet Banking, Online e-Payment Gateway and MFS during the Eid-ul-Azha vacation
The document instructs scheduled banks, mobile financial service providers, payment service providers, and payment system operators in Bangladesh to ensure uninterrupted transaction services via ATMs, POS, QR codes, internet banking, online e-payment gateways, and MFS during the Eid-ul-Azha holiday. It mandates specific operational measures including maintaining sufficient cash in ATMs and agent points, ensuring round-the-clock service availability, enforcing Two Factor Authentication for card-not-present transactions, and requiring receiving banks to instantly credit funds upon receipt of settlement reports with response code '85'. Additionally, institutions are required to implement robust security protocols, send instant SMS alerts for all transactions, conduct public awareness campaigns, provide continuous help line support, and strictly adhere to all previously issued circulars.