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Bangladesh Bank (BB) has issued a guideline allowing non-bank entities for setting up necessary infrastructure in the country to provide electronic payment services to the customers of schedule banks and others.
“Such service will fall under the PSO (Payment System Operator) jurisdiction and intended firms (including a PSO license holder for other services) will require obtaining separate license from BB in existing such services and will need to follow all existing and upcoming policies, guidelines and standard relating to these services,” according to a BB circular.
These private sector non-bank operators will be termed White Label ATM and/or Merchant Acquirer (WLAMA).
(BSS)
