The Bangladesh Bank on Monday asked the scheduled banks to complete their preparations within the shortest possible time to be incorporated into the National Payment Switch Bangladesh.

To this end, the BB issued a circular addressing the managing directors and chief executive officers of all banks saying that it had been decided that all inter-bank domestic transactions originating from any delivery channel (ATM/POS/Kiosk/Mobile/Internet) would be routed through NPSB. 

The circular said the BB would complete the procedures to set up NPSB within a couple of weeks as it was a national priority project.

The NPSB will also include transactions of banks that do not have their own switch but are using Third Party Processors (Q-cash, Cash Link), the circular said. 

The banks are being advised to upgrade or customise their own or third-party switching software according to the BB specifications (Host to Host) within the shortest possible time, it said.

The circular said that the BB had already started implementation of NPSB with a view to creating a common platform for the cards (Debit/Credit/Prepaid) and internet and mobile-based payments in the country.