BB orders banks to keep digital payments running during Eid

Bangladesh Bank (BB) has instructed banks and payment service providers to ensure uninterrupted transactions through digital payment channels during the upcoming Eid-ul-Fitr holidays.

The central bank issued a circular on Monday directing all scheduled banks, mobile financial service (MFS) providers, payment service providers and payment system operators to keep key payment systems fully operational so that customers can carry out transactions smoothly during the festive period.

The directive covers major payment channels, including automated teller machines (ATMs), point-of-sale (POS) terminals, QR code payments, internet banking, online e-payment gateways and mobile financial services (MFS).

According to the circular, banks must ensure round-the-clock operation of ATMs and take prompt measures to resolve any technical issues. They have also been asked to keep adequate cash in ATM booths, ensure proper security and arrange inspections of booths by bank officials when necessary.

For POS and QR code-based transactions, banks and service providers were instructed to maintain uninterrupted services and raise awareness among merchants and customers to prevent fraud.

In the case of internet banking and online e-payment gateways, the regulator said two-factor authentication must be ensured for card-not-present transactions to enhance security. In addition, when transactions generate response codes indicating successful settlement, receiving banks should promptly credit funds to the beneficiary’s account.

Regarding mobile financial services, Bangladesh Bank asked providers and their subsidiary companies to ensure uninterrupted operations and maintain adequate cash supply at agent points so that customers can access services smoothly during the holiday period.

The central bank also instructed banks and service providers to keep helplines active and take necessary steps to address customer complaints quickly during the Eid holidays.