DPSS has an important role of operation and settlement of interbank fund transfers through Bhutan Financial Switch (BFS), Bhutan Immediate Payment System (BIPS), Cheque Truncation System (CTS), Bhutan Interbank Real time Fund Transfer (BIRT) System and SWIFT system.

Advancement in information technology and changes in laws, regulations and institutions in Bhutan have encouraged the rise of new payment instruments and delivery channels as well as processing arrangements for low & large value, time-critical and instant payments. Developing a safe and robust payment system infrastructure that enables the efficient functioning of economic activities, while promoting financial innovation and inclusion has always been one of the foremost priorities for the RMA.

As per the Payment and Settlement Systems Rules and Regulation 2018, subsection 2.1.1 “No person, other than Authority, shall set up and operate a payment system or provide payment services in Bhutan except under and in accordance with the terms of license issued by the Authority to that effect under these rules and regulations or as otherwise prescribed by the Authority.”