The central bank of Bangladesh yesterday launched National Payment
Switch (NPS), a common platform for the country's commercial banks for
electronic payments, which is going to revolutionise e-commerce in
Bangladesh.
“The advantages of this new payment
platform are enormous. E-commerce will spread across the country,” said
Bangladesh Bank (BB) Governor Atiur Rahman.
Once
all banks in Bangladesh join the NPS, a customer using a credit or
debit card of any bank will be able to draw cash from any ATM and POS
(point of sales) in the country. And transaction costs will
significantly go down as the transactions will be routed through the NPS
instead of Visa, Master or Amex card networks abroad.
