Status
Piloted or planned
If a RTPS exists
Yes
Vision: PSP interoperability
Yes
Name (Payment)
Interoperable Digital Transaction Platform (IDTP)/ Binimoy
URL (Payment)
https://www.thedailystar.net/tech-startup/science-gadgets-and-tech/tech-news/news/joy-launches-new-transaction-platform-binimoy-3167986
Region
Asia
# of participants
2023- 14 orgs (banks, mobile money operators, payment service provider)
AML law
Yes
Bank participation in network
Yes
Centralised fraud management system?
Unknown
Consumer protection law
Yes
Governor
Central bank/ Financial regulator
Non-bank participation in network
Yes
Notes
Soft launch in Nov 2022 with participation from 11 institutions (banks, MFSs) Given that Binimoy integrates RT transactions between different wallets and instititons, an open loop architecture can be expected.
Offline transactions
Unknown
Operator
Central bank
QR-based transactions
Yes
Reporting forum/ website/ form
Unknown
Rules: data handling rules for PSPs, users
No
Rules: data leak notifications
Unknown
Rules: participation conditions
Yes
Rules: recourse mechanism
Unknown
Rules: transaction recall
Unknown
Settlement systems
Unknown
Transaction cost
Variable, not free
Transaction types
P2P
P2M
B2B
Value (Year-USD)
2023- 14 orgs (banks, mobile money operators, payment service provider) Mobile money operations- 180 M accounts, sending USD 270 M daily (?)
Volume (Year- Volume)
Unknown