Benefits of on-line payment system
Wednesday, 4 November 2009
BANGLADESH Bank introduced online payment system in the country facilitating online fund transfers and payment of utility bills through local currency credit cards. One will no longer need to go to market for shopping spending hours in traffic jams or stand in long queues to pay utility bills. All these are now possible on the Internet.
Although these services are being introduced on a smaller scale, it is considered to be the first step towards a broader online banking. This move will certainly enhance the use of e-commerce in the country and online banking services, facilitating subscribers of all commercial banks in Bangladesh. Banks need to be prepared for offering such services. Customisation and integration are necessary for this purpose.
Security measures, along with a legal framework, need to be put in place to safeguard both customers and banks. Banks are probably ready for this. From my 15 years banking experience having net facilities with several banks, I strongly suggest that stakeholders and government bodies should be prepared for online banking; otherwise, it might not be used properly.
Balaram Sengupta
Banker
e-mail: balaramsengupta@gmail.com
Although these services are being introduced on a smaller scale, it is considered to be the first step towards a broader online banking. This move will certainly enhance the use of e-commerce in the country and online banking services, facilitating subscribers of all commercial banks in Bangladesh. Banks need to be prepared for offering such services. Customisation and integration are necessary for this purpose.
Security measures, along with a legal framework, need to be put in place to safeguard both customers and banks. Banks are probably ready for this. From my 15 years banking experience having net facilities with several banks, I strongly suggest that stakeholders and government bodies should be prepared for online banking; otherwise, it might not be used properly.
Balaram Sengupta
Banker
e-mail: balaramsengupta@gmail.com