NPSB stands for National Payment Switch Bangladesh.
- Established in 2012 by Bangladesh Bank, it is an electronic platform that ensures national interoperability for card-based and internet-based transactions, allowing real-time, 24/7 fund transfers and ATM/POS usage across different banks.
Key Aspects of NPSB in Bangladesh:
- Interoperability: Connects over 50 banks to enable transactions like Instant Bank Fund Transfers (IBFT).
- Functions: Supports ATM cash withdrawals, Point-of-Sale (POS) purchases, and internet banking fund transfers.
- Real-time Transactions: Unlike BEFTN, NPSB processes transactions immediately.
- MFS Integration: As of late 2025, it facilitates interoperability between Mobile Financial Services (like bKash, Nagad, Rocket) and banks.
- Transaction Limits: Set by the central bank, with individual limits typically at 300,000 Taka/transaction and 1,000,000 Taka/day as of early 2025.