BB extends deadline for linking banks’ POS with NPSB to Dec 2019

Staff Correspondent | Updated at 12:24am on September 13, 2018

Bangladesh Bank on Wednesday extended the deadline by one year for banks and non-bank financial institutions for linking their point of sales set up at different shops and other entities with the BB’s National Payment Switch Bangladesh.
A BB circular issued in this regard asked all banks and non-bank financial institutions to get connected with the NPSB by December 31, 2019.
The previous deadline was December 31, 2018.
A BB official said that the deadline was extended as a number of banks were yet to complete linking all of their POS with the NPSB.
In August, 2017, the BB made it mandatory to conduct all card-based transactions through the NPSB, an automated common platform of the BB for all banks to settle interbank transactions.
The central bank launched the POS for settling interbank transactions through credit and debit cards.