merchant account Archives

SBP revises regulations for digital on-boarding of merchants

January 6, 2020May 21, 2022Mrs. Anjum Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has revised regulations for digital on-boarding of merchants in order to enable cash deposits transactions in merchant accounts. The SBP in a circular issued on Monday said that following amendments have been introduced to Regulations for Digital On-boarding of Merchants.’ Banks/MFBs shall ensure that Merchant Accounts are only used […]

SBP prohibits outward remittance transfers through on-board merchant accounts

November 5, 2019March 19, 2021Mrs. Anjum Shahnawaz

KARACHI: State Bank of Pakistan (SBP) has prohibited transfer of outward remittances through newly introduced on-boarding merchant accounts. The central bank in its rules issued for ‘Digital On-boarding of Merchants’ directed the acquiring institutions – Electronic Money Institution (EMI), and any non-banking entity duly authorized by SBP to on-board merchants under these Rules –not to […]

Tag: merchant account

SBP revises regulations for digital on-boarding of merchants

SBP prohibits outward remittance transfers through on-board merchant accounts

Reach Us