BB issues circular to bring transparency in online sales

Bangladesh Bank on Tuesday issued a circular regarding 'Guidelines for Merchant Acquiring and Escrow Services to bring more transparency in online sales.

This will also ensure the interest of the people who buy goods through using online platforms.

This is applicable to banks, mobile financial service providers, PSP (payment service providers), and the (payment service operators).

PSO and PSP means such authorized party that is a company registered under the Companies Act and engaged in operating and/or providing payment systems-related services like electronic payment gateway, payment scheme, clearing house, ATM Switch, POS.

In the meantime, Bangladesh Bank on the day issued a new PSO named Paperless Limited.

jaismharoon@yahoo.com