05 September 2015

OpenWay and Infotech get National Payment Switch of Bangladesh gig

26 September 2012  |  1340 views  |  0 Source: OpenWay Group

WAY4 software from OpenWay Group is chosen as a solid technical foundation for the National Payment Switch of Bangladesh. Early in 2012 Infotech Global Pte ltd., OpenWay's partner in Asia, signed the contract with Bangladesh Bank to carry out the implementation of the new infrastructure. The project has received funding and support from the World Bank.

"Infotech is proud to contribute to modernization of Bangladesh payment industry and to apply the industry's best practices to this project. At the moment our team is connecting the WAY4-based switching system to several banks and international payment schemes - VISA, MasterCard, and Amex," says Suresh Agarwal, Managing Director of Infotech Global Pte ltd.

The National Payment Switch (NPS) of Bangladesh is a part of the World Bank's "Central Bank Strengthening Project". Such projects serve to increase the transparency of internal and cross-border electronic payments, optimize all regulatory and supervisory procedures, and reduce related costs. Commercial banks having an ATM/POS/e-Payment Gateways/Mobile payment switches or being connected to any other shared switch network will be able to send inter-bank payment instructions to the NPS for clearing and settlement purpose. 

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Related blogs

Create a blog about this story (membership required)

Who is commenting?

Finextra Member Commented on: HSBC to rebrand Britsh...
Finextra Member Commented on: Zapp to use behavioura...

Top topics

Most viewed Most shared
Third of Brits expect day-to-day mobile pa...
8553 views comments | 40 tweets | 15 linkedin
UK boosts contactless limit to £30
5851 views comments | 31 tweets | 20 linkedin
PayPal rolls out personalised URLs for P2P...
5843 views comments | 34 tweets | 19 linkedin
Behold the contactless jacket
5653 views comments | 23 tweets | 18 linkedin
MasterCard extends startup search globally
5327 views comments | 14 tweets | 5 linkedin

Featured job

Basic £90-110K OTE circa £200K NO CEILING
London based with substantial travel in Scandinavia

Find your next job