SBP makes amendments in Guidelines for White Label ATM Operators
- Referring to the PSD Circular No 5 dated June 01, 2018, regarding “Guidelines on White Label ATM Operators” (Guidelines). The central bank in order to facilitate WLAOs and to bring more efficiency in cash management and settlement, the following amendments have been made in above Guidelines.
The State Bank of Pakistan (SBP) has made a number of amendments in Guidelines for White Label ATM Operators (WLAOs)
Referring to the PSD Circular No 5 dated June 01, 2018, regarding “Guidelines on White Label ATM Operators” (Guidelines). The central bank in order to facilitate WLAOs and to bring more efficiency in cash management and settlement, the following amendments have been made in above Guidelines.
With reference to Para 3 (a) of the Guidelines, WLAOs in addition to arrangement of cash through Financial Institution(s), are henceforth allowed to directly fulfil their cash requirements through Field Offices of SBP-BSC (designated) across the country, after fulfilment of the necessary requirements/criteria of SBP-BSC.
Furthermore, with regards to Para 4: Transactions Settlement, the WLAOs shall settle their transactions with their ATM Switch as per the instructions contained in PSD Circular No. 4 dated June 01 2018.
For this purpose, the WALOs may nominate a settlement bank; or become the indirect participant of PRISM, after fulfilling all necessary requirements/criteria stipulated in Para 3.2 of the New PRISM Operating Rules (PORs) issued vide PSD Circular No. 02 dated March 06, 2018.
The WLAOs are directed to communicate the above arrangements to their ATM switch.
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