Bangladesh bank taps Compass Plus Technologies to boost eCommerce payment

By Gloria Mathias

Mutual Trust Bank PLC (MTB), a Bangladeshi bank, has migrated its eCommerce acquiring services to a payment gateway from Compass Plus Technologies.

Driven by a commitment to enhancing customer and merchant experiences, MTB embarked on a strategic journey to adopt a mobile-first payment gateway with the flexibility to quickly adapt to consumer preferences. The migration upgraded the bank’s service capabilities and enabled it to achieve 3DS 2.2 certification, ensuring secure, seamless transactions.

The project, a collaboration between MTB, Compass Plus Technologies, and ITC Consultants PLC, was completed in just 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 eCommerce services.

Hasanur Rahman, Chief Technology Officer at Mutual Trust Bank PLC, said, “The implementation of our new payment gateway has enabled us to upgrade our eCommerce acquiring capabilities significantly. The new system not only enhances the range of payment options we can offer but also ensures compliance with the highest international security standards. We are excited about the new opportunities this brings to our customers and merchants.”

Osman Haidar, Director of Business at ITC Consultants PLC, remarked, “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.”

Arthur Petrashov, Account Manager at Compass Plus Technologies, shared, “We are thrilled to support MTB in their journey to enhance their eCommerce acquiring services. 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.”