BB orders uninterrupted digital payment services during Eid holidays

In a circular issued today, the central bank instructed all stakeholders to keep ATM, POS, QR code, internet banking and mobile financial services fully operational round the clock to facilitate smooth financial transactions for people during the festive season.

According to the circular, banks have been asked to ensure 24/7 ATM operations throughout the holiday period and resolve any technical glitches within the shortest possible time through rapid response measures.

The circular also directed banks to maintain adequate cash supply in ATM booths to meet increased withdrawal demand and strengthen security arrangements at ATM locations.

Bank officials were instructed to conduct regular inspections of ATM booths to ensure uninterrupted operations.

To support increased shopping and digital transactions during Eid, the central bank asked service providers to keep Point of Sale (POS) and QR code-based payment systems fully functional.

Banks and payment service providers were also instructed to raise awareness among customers and merchants to prevent fraud and suspicious activities.

For internet banking and e-payment services, BB made Two-Factor Authentication (2FA) mandatory for all "Card not Present" transactions conducted through accounts or e-payment gateways.

The central bank further instructed banks to ensure immediate credit of beneficiary accounts against Real-Time Gross Settlement (RTGS) transactions initiated through internet banking or gateways involving transaction code '85' upon receipt of settlement reports.

All banks operating Mobile Financial Services and their subsidiary companies were directed to maintain uninterrupted MFS operations during the holidays.

The circular specifically instructed MFS agent points to maintain sufficient cash reserves to meet increased cash-out demand, particularly in rural areas during Eid travel.

The Payment Systems Department also asked all institutions to strengthen overall system security and risk management measures to prevent cyber threats during the holiday period.

Banks and payment service providers were instructed to send instant SMS notifications for all transactions and operate customer helplines round the clock to provide prompt support and address customer complaints.

The central bank also directed providers to use various media platforms to raise public awareness regarding safe use of digital payment services during Eid.

The circular described the instructions as highly important for ensuring public convenience and uninterrupted financial services during the Eid-ul-Azha holidays.