The central bank has taken an initiative to set up e-payment gateway to expand internet banking and e-commerce in the country, said its chief Atiur Rahman yesterday.

"I hope the e-payment gateway will start functioning in the first quarter of 2013," Bangladesh Bank governor said.

He spoke while inaugurating the 'Easy Pay' system of ICB Islamic Bank under Bangladesh Electronic Fund Transfer Network (BEFTN) in the capital.

He said inter operability among the terminals of automated teller machine and point of sales will be ensured across the country through this e-payment gateway, and it will help expand e-commerce in the country.

"The recent progress in the payment system is part of the central bank's sincere efforts to ensure the development of the country's banking sector," he said.

He said clients now can transfer funds safely and quickly at affordable cost under the BEFTN.

Source: The Daily Star/ Bangladesh/ 9th Dec 2011