State-owned Sonali Bank PLC has launched its own payment switch, aiming to provide customers with faster, more secure, and uninterrupted card transaction services. This initiative enables the bank to independently manage debit, credit, prepaid, and virtual card transactions without relying on third-party service providers.
With the implementation of the proprietary switch, transaction data will be better protected, costs for both the bank and its customers will be reduced, and card issuance and processing will be significantly faster. Sonali Bank also highlights that its card service charges are more affordable compared to other banks in the country.
Currently, Sonali Bank serves around 1.4 million debit and credit card users. Previously, card services were managed through third-party platforms, resulting in higher costs and longer processing times. The new switch is expected to streamline operations and improve customer experience by reducing both time and expenses.
Mohammed Shawkat Ali Khan, Managing Director and CEO of Sonali Bank PLC, stated, “We have recently implemented our own payment switch, which will enable our customers to receive card services faster and more securely. This switch marks a revolutionary advancement in customer service.”
He further added, “Digitalization makes the banking sector more efficient, secure, sustainable, and competitive. Our customer-friendly digital payment system now allows users to perform transactions using debit cards, credit cards, and Bangla QR codes quickly and efficiently. Cards will also be delivered in a much shorter time based on customer demand.”
According to the official release, Sonali Bank is also expanding its ATM network, aiming to provide 24/7 service across the country. This year, the bank plans to install 155 new ATM booths at various locations. Additionally, the growing use of the Bangla QR code, introduced in 2023, has played a significant role in promoting cashless transactions.