They urged bank owners to come up with long term investment plans to adopt a digital payment ecosystem in the country to keep up with global trends. The bankers were speaking on Monday at a roundtable discussion of “Building Payment Ecosystem for Digital Bangladesh: Challenges and Opportunities,” jointly organized by the Association of Bankers Bangladesh Limited (ABB) and The Daily Star at The Westin Dhaka. The bankers asked Bangladesh Bank to offer a choice for routing transactions, and also to ensure interoperability in the broader payment ecosystem. Discussants also said that it is always risky to have a single point of failure, and therefore the payment ecosystem should have multiple fallback options. Other speakers said that globally the payment ecosystem is rapidly evolving with an increasing penetration of connected devices.

Source: Dhaka Tribune July 30, 2018 16:41 UTC