26 March 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

OpenWay and Infotech get National Payment Switch of Bangladesh gig

26 September 2012  |  1559 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)

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
57304 views comments | 15 tweets | 35 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
9476 views comments | 43 tweets | 26 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8859 views comments | 23 tweets | 37 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
7402 views comments | 19 tweets | 26 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
7247 views comments | 22 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job