BB summons Q-Cash management over digital banking disruptions

The Bangladesh Bank (BB) has summoned IT Consultants PLC, the operator of Q-Cash, and directed its management to resume card-related services promptly after a Q-Cash system upgrade disrupted digital banking services at 31 banks.

In a press release today, the central bank said the disruptions, which affected cards, ATMs and services linked to the National Payment Switch Bangladesh (NPSB), began at 9pm on October 4, causing inconvenience to customers of the affected banks.

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“In response, the Bangladesh Bank has taken necessary measures to protect customer interests and ensure the continuity of financial transactions,” it said.

The central bank’s directive came as customers of the 31 banks faced the digital banking disruptions, particularly in card transactions, following a system upgrade by Q-Cash, an electronic payment network used by the lenders and operated by IT Consultants.

The BB, however, said normal transactions are continuing for banks, mobile financial service (MFS) providers and other payment service providers directly connected to the NPSB platform.

Other payment systems operated by the central bank were also functioning normally, including the Bangladesh Automated Cheque Processing System (BACPS), Bangladesh Electronic Fund Transfer Network (BEFTN) and Real-Time Gross Settlement (RTGS).

The central bank asked customers to follow instructions from their respective banks and use alternative payment platforms where necessary while the disruption continues.