MFS interoperability in a year: Palak

Transactions for mobile financial services from one operator to another will be possible within a year as the government is working to introduce a platform, State Minister for ICT Zunaid Ahmed Palak said yesterday.

 Transactions among the same MFS operators are currently not enabled.

Interoperability will automatically increase user numbers manifold, said Palak, adding, “And then payment for e-commerce industry will also be easier and that will also help grow online shopping.”

“Without interoperability we cannot explore the full potential of the digital financial transactions,” he told the e-Commerce Association of Bangladesh’s (e-CAB) 5th anniversary celebration at BGB Banquet Hall in the capital.

Currently there are 16 banks and financial institutions providing MFS in the country with transactions reaching about Tk 1,200 crore a day.

As of September, MFS transactions amounted to Tk 35,433 crore, according to Bangladesh Bank.

“From the top of the government’s policymaking position we got direction to make the digital payment process easier and after that we have started to bring about the system,” said Palak referring to Prime Minister’s ICT Affairs Adviser Sajeeb Wazed Joy.

Through the event the e-CAB also celebrated listing 1,000 members. Its president, Shomi Kaiser, and general secretary, Md Abdul Wahed Tomal, also spoke.