SSL Commerz gets licence from BB to process offline retail payment

Bangladesh Bank (BB) has given licence to SSL Commerz Limited to process offline payments, through a point of sale (POS) machine to boost a cashless society.

As a result, the SSL Commerz can set up system for processing card payments at retail locations across the country, said Mezbaul Haque, a BB spokesman.

The retail level payment will be possible through using banks’ cards (VISA Card, Master card etc) where the SSL will play a role of processor, he said.

The central bank provides a licence to SSL as Payment System Operator (White Label Merchant Acquiring) first time in the country to introduce an offline payment system.

There are five institutions that are able to handle online payments.

The BB authorized SSL Commerz to make payments under the brand name 'SSL Commerz' within the country subject to the conditions of the Payment Systems Department.

Using this system people can pay at the retail level even for purchasing from an e-commerce platform.