Banglalink has secured a No Objection Certificate from Bangladesh Bank to begin operating as a Payment Service Provider (PSP), allowing the telecom operator to process digital payments without holding customer deposits like banks or mobile financial services such as bKash or Nagad. The central bank confirmed that after Banglalink finalises its technical infrastructure, an official inspection will follow before the final licence is issued.
As a PSP, Banglalink will be able to support money transfers, merchant transactions, utility and government bill payments, salary disbursements and other digital payment functions. Industry analysts note this positions Banglalink to compete directly with leading payment players including bKash, Nagad, Rocket and internet banking platforms.
Owned by global digital operator VEON, Banglalink views this regulatory approval as a significant step toward advancing digital financial inclusion and supporting the country’s transition toward a cashless economy.
