Bangladesh Bank has a granted license to a technology service-company ‘Optimum Solution and Services Ltd. (OSSL) as Payment System Operator (PSO). By obtaining this license the company will be able to operate as a PSO under the brand name ‘Easy Payment System (EPS)’ within the country.
Last Tuesday (August 23, 2022), a circular in this regard was issued by the Payment Systems Department (PSD) of Bangladesh Bank. The issued circular has been sent to the Managing Directors/Chief Executives of all Scheduled Banks, Mobile Financial Services Providers, Payment System Operators and Payment Service Providers in the country.
The circular signed by the Director of Payment Systems Department (PSD) states – “Optimum Solutions and Services Ltd. has been granted a license as a Payment System Operator (PSO) under the brand name ‘Easy Payment System (EPS)’ within the country subject to the conditions stated in the department’s letter PSD/ADC&L(OSSL)/20/2022-1902 by Bangladesh Bank as per ‘Bangladesh Payment and Settlement Systems Regulation-2014’ issued under Section 7(a)(e) of Bangladesh Bank Order 1972.”
Bangladesh Bank’s Payment Systems Department (PSD) has so far granted licenses to a total of seven companies as Payment System Operators (PSO). EPS is one of them. With this authorization, EPS is able to provide financial transaction services to individuals and businesses.
EPS will open up new horizons in the digital financial ecosystem. And that is why EPS has been defined as the main motto – Simple solution for all transactions.
