BDL launches unified payment platform

‘BDL-Clear’ processes retail banking transactions

The Central Bank (BDL) issued a new decision to regulate the payment of transactions through commercial banks’ retail banking services under a new system called ‘BDL-Clear’.

“The main purpose of the system is to create a unified platform for banks to exchange financial data and complete retail banking transactions,” said a source at the BDL. The source said that the banking secrecy related to the activity of clients and banks will be maintained, and the BDL does not have any intention to increase control through this new system.

The BDL-Clear system will process retail banking transactions such as Cheques Clearing, Cards Clearing both at ATMs and Points of Sales (POS), and Direct Debits, including bill domiciliation.

The new system will also cover two additional services: Credit Transfers and BDL Credit Transfers. “The system will serve companies that resort to automatic transfers of their employees’ salaries through banks. It will also serve to transfer salaries in the public sector at a later stage,” the source said.

The expenses, subscriptions, commissions, and guarantees collected from banks through the new system will be determined by a decision issued by the BDL’s Governor. According to the BDL source, costs to be handled by banks will be calculated per transaction on a monthly basis, but with a minimal financial burden.

The BDL-Clear system will be operational on weekdays from Monday to Saturday at specific working hours. “The banks will have enough time to process all operations during the set time,” the source said. Concerned bank employees have been trained on using this system.