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Fime & ITC PLC bring local EMV L3 payment terminal testing to Bangladesh

By Gloria Mathias

June 03, 2024

  • Acquisition News
  • APAC
  • Bangladesh EMV
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Fime, UL Solutions, Gallant Capital, FinTech, Payments Testing, Digital ID, Acquisition news, Europe, USA, Middle East, Bangladesh EMV, Local Payments, Fintech solutions, Fintech news, APAC, Fime has partnered with Bangladesh-based technical service provider ITC PLC to deliver local EMV®* Level 3 test services.

*EMV® is a registered trademark in the U.S. and other countries and an unregistered trademark elsewhere. The EMV trademark is owned by EMVCo, LLC.

This supports the nation’s expanding digital payment ecosystem. Stakeholders will be able to validate and integrate their payment terminals locally, reducing time to market and costs.

Osman Haider, Business Director at ITC PLC, said, “As a leader in Bangladesh’s financial services ecosystem, ITC PLC needed a trusted partner to enhance local certification services. Fime’s global expertise, coupled with its local experience supporting Bangladesh’s domestic payment scheme, made it the ideal choice as we look to deliver state-of-the-art payment infrastructure.”

Banks, issuers and acquirers can access local L3 consulting, certification, and card and mobile personalization validation (CPV) in addition to the requisite testing tools.

“Fime is extremely happy to partner with ITC PLC, a well-renowned financial services provider to both the central and member banks in Bangladesh,” adds Deakin Daney, Sales Director, India & South Asia at Fime. “Together, we will provide products and services to the financial ecosystem, including our Savvi Test Platform and Smartspy+ tools, helping us play a role in the growth of the domestic scheme in the country.”

Having helped launch the nation’s domestic card scheme in 2023, this announcement highlights Fime’s ongoing commitment to the growth of sovereign economic development in Bangladesh. The nation’s digital revolution is cementing its status as an emerging global economy, with smart mobility, open banking and CBDC use cases being driven by its central bank. Local L3 testing will help local banks continue towards a stable, sovereign financial future.

Fime enables its clients to create and launch trusted and secure solutions with consulting and testing services in payments, smart mobility, biometrics, authentication and open banking. It offers a global cross-industry perspective, local insight, and a unique heritage in testing and certification. Fime’s consultants provide transformative business expertise, partnering with organizations worldwide to define, design, deliver and test their products and services.

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