Binimoy, a processing and settlement system for electronic payments. The main participants are banks, MFS (Mobile Financial Services) and PSP (Payment Service Providers).
Binimoy is a fast payment network which works based on VID (Virtual ID) instead of conventional bank account. Binomoy creates the feasibility of interoperability across the different payment platforms.
This has been supported jointly by Bangladesh Bank and Information and Communication Technology (ICT) Division of the Ministry of Posts, Telecommunications and Information Technology.