Bangladesh-based bank, Mutual Trust Bank PLC, has successfully migrated its e-commerce acquiring services to a payment gateway from UK-based paytech Compass Plus Technologies.
Mutual Trust Bank has upgraded its service capabilities with the migrational, which has also enabled it to achieve 3DS 2.2 certification, ensuring secure, seamless transactions. The Dhaka-based bank explained that, driven by an ambition to improve local customer and merchant experiences, it opted to adopt a mobile-first payment gateway with the flexibility to quickly adapt to consumer preferences.
Hasanur Rahman, chief technology officer at Mutual Trust Bank, said: “The implementation of our new payment gateway has enabled us to significantly upgrade our e-commerce acquiring capabilities. The new system not only enhances the range of payment options we can offer but also ensures compliance with the highest international security standards.”
MTB, Compass Plus Technologies, and ITC Consultants PLC completed the collaborative project in six months. MTB is a valued customer of ITC Consultants, the largest third-party payment processor in Bangladesh. ITC Consultants are a long-standing customer of Compass Plus Technologies and utilise its software to manage their switch, card management, personalisation, and e-commerce services.
Arthur Petrashov, account manager at Compass Plus Technologies, commented: “By migrating to our solutions, MTB is well-positioned to offer more convenient and secure payment options to their merchants and customers. This project underscores the bank’s commitment to providing cutting-edge technology that meets the evolving needs of the Bangladeshi banking sector.”
Osman Haidar, director of business at ITC Consultants PLC, also discussed working on the project: “Working with MTB and Compass Plus Technologies on this migration has been a rewarding experience. Our long-standing relationship with both parties has been instrumental in the swift and successful completion of this project. We look forward to continuing our collaboration to bring advanced payment solutions to the Bangladesh market.”
Mutual Trust Bank currently boasts a network of 120 branches, 306 ATMs and over 4000 Point of Sales (POS) machines.
