Central Bank clears Banglalink to launch next generation payment platform
Banglalink has received a no-objection certificate from Bangladesh Bank to commence operations as a payment service provider (PSP), marking a significant step towards expanding access to digital payments across the country.
Powered by a high-capacity technology platform and guided by its DO1440 strategy, Banglalink stated it is preparing to bring essential financial services directly to customers' mobile devices. The company, fully owned by VEON, described the approval as an important step towards strengthening digital financial inclusion and supporting the shift towards a cashless economy. VEON's global fintech expertise will also support the rollout.
With the new licence, millions of users will gain access to faster and more secure digital financial services. The approval enables Banglalink to introduce next-generation payment solutions across the country.
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At launch, customers will be able to access instant money transfers, remittance services, utility and government bill payments, e-commerce and merchant transactions, salary and disbursement services, as well as emerging financial products such as micro-savings and insurance premium payments.
A key objective of the service is to broaden access to formal financial channels for unbanked and underserved populations. Banglalink stated the platform incorporates robust security features to ensure safe and seamless transactions.
Banglalink Chief Executive Officer Johan Buse said:"With Banglalink's nationwide reach and VEON's global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh. This approval reinforces our belief that simple, safe and accessible digital financial services should be available to everyone. Guided by our DO1440 strategy, we aim to ensure essential services are always within reach."
Banglalink is finalising preparations for the commercial roll-out of its digital payment services in coordination with Bangladesh Bank and partner institutions.
