Uniform Payment System for Banking Industries: A Case Study in Bangladesh

National Payment Switch (NPS) is an approach to offering financial services that combines banking with Automated Teller Machine (ATM), Point of Sale (POS), Mobile Banking (MB) and Internet Banking (IB) which enables for users to execute banking transaction. It is new term in Bangladesh. Most of the people in Bangladesh live in rural areas and the services of banks are being increased through ATM, POS, IB and MB day by day. Almost all banks are trying to provide financial service to maximum customers through these delivery channels and some of them are becoming popular. So a common platform is needed for inter bank transaction through different delivery channels. NPS is such a system for interbank transaction in Bangladesh. Already several banks have connected with NPS successfully in Bangladesh. The main purpose of this paper is to provide present condition of NPS, and related services (ATM, POS, MB, IB) in Bangladesh and technical architecture of NPS. We also showed prospects and limitations of NPS in Bangladesh.