Bangladesh Bank (BB) yesterday asked the all banks and Financial Institutions (FIs) to connect their established Point of Sale (POS) with the National Payment Switch of Bangladesh (NPSB) by December 2018 and to operate the interbank card transactions through NPSB, reports BSS.

The central bank instructed the banks and FIs to implement the order immediately, said a BB circular in the capital yesterday.

Bangladesh Bank launched the POS for settling interbank transactions through credit and debit cards.

With launching of the system, banks will settle their card transactions online using the NPSB, an automated common platform of BB for all banks to settle all interbank transactions.