Interoperability found in digital fund transfer to avoid fraud: Palak
Although digital transactions have been increasing over the last couple of years, fraudulent activities are eroding people's confidence in going cashless. However, very much optimism is being made for the forthcoming arrival of an Interoperable Digital Purchase Platform (IDTP).
The government is introducing the IDTP to reduce fraud, harassment and cost in financial transactions, said State Minister for ICT Zunaid Ahmed Palak yesterday.
The new system can make all accounts of banks, portable financial services (MFS) and payment system providers interoperable this season, a development that will allow people to go funds effortlessly instantly and at decreased costs.
Regarding to a central lender document, the government might cough up Tk 56 crore to create the IDTP.
"The IDTP will help people transact funds without needing their account number, which will subsequently reduce fraudulent actions," Syed Mahbubur Rahman, managing director of Mutual Trust Lender, told The Daily Star the other day.
That is especially relevant since the risk of contracting coronavirus through handling cash has recently got persons from all walks of life increasingly embracing digital payment tools, giving a significant boost to cashless transactions.
Deal through the MFS rose 41 % year-on-year to Tk 53,598 crore in November.
The issuance of bank cards stood at 16.31 lakh by October, up 8.73 % year-on-year. The quantity of debit cards grew 8.70 per cent to 2.10 crore.
Palak as well said the main philosophy of the government's "Digital Bangladesh" concept was to attain all government offerings through the very best use of it to the people.
He was addressing a celebration at ICT Tower found in Dhaka on the ICT Division securing first of all place among all authorities ministries and divisions because of its annual performance in the fiscal 2019-20.
NM Zeaul Alam, senior secretary to ICT Division, Hosne Ara Begum, managing director of Bangladesh Hi-Tech Recreation area Authority, Parthapratim Deb, executive director at Bangladesh Pc Council, and ABM Arshad Hossain, director standard at the Section of Information and Conversation Technology, also spoke.
