Regulatory Alerts2020-10-22
Added · Updated
PSD Circular No. 07: Launching Interoperable transactions among banks and MFS providers through National Payment Switch Bangladesh (NPSB)
The document mandates that banks and Mobile Financial Services (MFS) providers in Bangladesh begin interoperable transactions via the National Payment Switch Bangladesh (NPSB) by October 27, 2020, with non-compliant entities required to start by March 31, 2021. It establishes interchange fee rates of 0.80% for MFS-to-MFS transfers and 0.45% for bank-to-MFS or MFS-to-bank transfers, while prohibiting additional charges beyond existing transaction fees. The directive applies immediately to all scheduled banks and MFS providers operating in the country.
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