SmartGen Mastercard MPQR Bangladesh Operating and Compliance Checklist

Use the links below to move between the SmartGen Mastercard documentation chapters and the live Sandbox Lab. The Lab is for simulated technical testing only; it does not authorize real-money use or live merchant fulfillment.

SmartGen Mastercard MPQR Bangladesh Operating and Compliance Checklist

This is a working checklist, not formal legal advice. A qualified Bangladesh payments lawyer, bank, sponsor, processor, and regulator should confirm the exact license and business structure before any real-money launch.

Bangladesh payment-system boundary

Bangladesh Bank’s Payment Systems Department states that it issues licenses in the broad categories of Payment Service Provider (PSP) and Payment System Operator (PSO). Its published description distinguishes a PSP that facilitates payments directly to customers and settles through a scheduled bank or financial institution from a PSO that operates a settlement system among participants, including examples such as payment gateways and aggregators.1

The exact classification depends on SmartGen’s actual activities, contracts, fund flow, merchant relationships, and technology. Do not assume that calling the product “software” removes all payment obligations.

Choose the legal operating model

Model	SmartGen handles	Licensed/approved partner handles
Software provider	Software, checkout, dashboard, integrations, support tooling	Payment service, merchant acceptance, settlement, regulated controls
Partner-orchestrated platform	Merchant-facing orchestration under partner contract	Merchant onboarding, funds, QR issuance, provider approval, settlement
Direct payment participant	Approved payment role and its associated operations	Sponsor/financial institution support and Mastercard approval
Independent payment gateway	Gateway/aggregation and possibly settlement-related activity	Must be reviewed for licensing, approval, sponsorship, and regulatory obligations

For SmartGen’s current size and status, the partner-orchestrated model is the most practical starting point. The partner should confirm which functions SmartGen may perform and which must remain with the licensed entity.

Business-readiness file

Prepare these materials before approaching a bank, processor, sponsor, or Mastercard representative:

File	Contents
Company identity	Registered name, founder/owners, address, incorporation/business information
Bangladesh business documents	Trade license, tax/business documents, bank account evidence, identity documents as requested
Website and product	SmartGen URLs, product screenshots, customer journey, support contact
Business model	Who pays SmartGen, merchant pricing, expected volume, refund model
Payment flow	Source of funds, receiving account, settlement path, merchant payout model
Merchant model	Target merchants, KYC/KYB process, prohibited categories, risk review
Technology	Frontend, Worker/API, secrets, environments, logs, access control
Security	Key management, incident response, data retention, vulnerability process
Operations	Reconciliation, support, dispute handling, refund workflow, monitoring
Policies	Terms, privacy notice, refund/cancellation, acceptable use, complaints
Financial forecast	Expected monthly volume, average amount, peak amount, currencies, countries

The sponsor may request additional audited, financial, technical, or ownership information.

Ask the intended bank, processor, acquirer, wallet provider, or Mastercard-sponsored participant:

Which legal entity is the merchant of record or payment-service provider?
Which entity holds or settles merchant funds?
Which entity onboards and verifies merchants?
Can the partner sponsor SmartGen for MPQR, or only provide a separate payment service?
Who generates static and dynamic merchant QR payloads?
Who owns the merchant account and Partner Reference ID?
Which currencies and merchant categories are supported?
What are transaction, refund, and settlement limits?
What are the fees, chargeback/dispute rules, settlement cycle, and reserve requirements?
Which MTF test cases and certification steps apply to SmartGen?
What data may SmartGen store, for how long, and in which country/region?
What support SLA and incident-escalation path applies?

Get the answers in a written agreement or official onboarding document.

Customer and merchant protection

Before production, SmartGen should publish clear terms and show the merchant/customer:

merchant identity
amount and currency
order/reference
payment status
support contact
refund/cancellation rules
privacy notice
complaint process

Use server-side verification before delivering a product or service. Do not ask a customer to share a PIN, OTP, CVV, or full card number with SmartGen support.

Data minimization

Store only the data needed to operate, reconcile, support, and comply with the service. Mask account URIs and payment identifiers where possible. Define access roles, retention periods, deletion procedures, breach response, and export procedures. Do not store authentication secrets in GitHub or the public website.

Launch approval gate

SmartGen should not enable real payments until all relevant owners sign off:

Owner	Sign-off
Mastercard/sponsor	Program role, Partner Reference ID, MTF/Production approval
Bank/processor	Merchant acceptance, settlement, refund, dispute, limits
Legal/compliance	Business model, licensing, contracts, policies, KYC/KYB
Security	Key storage, access control, logging, incident response
Engineering	Idempotency, status handling, tests, rollback
Operations	Reconciliation, support, monitoring, exception queue
Merchant pilot	Approved merchant, QR, amount, settlement, customer flow

SmartGen Mastercard MPQR Bangladesh Operating and Compliance Checklist

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