Veon-owned Banglalink has received a payment service provider licence from Bangladesh Bank, clearing the way for the telecom operator to enter the country’s digital payments market with a new service called Mukto Pay.
Banglalink plans to launch Mukto Pay next month, positioning the platform as a simple, secure and accessible digital payments service for consumers, merchants and businesses.
The move expands Banglalink beyond connectivity and into financial services as parent company Veon increases investment in digital infrastructure and fintech across Bangladesh.
Mukto Pay to support transfers, payments and disbursements
Banglalink said Mukto Pay will support a range of digital transactions, including money transfers, merchant payments, e-commerce payments, utility and government bill payments, salary disbursements and other approved payment services.
The platform will draw on Veon’s wider experience in digital services while using Banglalink’s local customer reach and distribution footprint.
Johan Buse, CEO of Banglalink, said the company aims to combine its understanding of the Bangladesh market with Veon’s digital expertise to make payments more accessible and relevant to everyday users.
The operator is also positioning Mukto Pay as a financial inclusion tool, particularly for people and small businesses that remain unbanked or underserved.
Banglalink moves beyond connectivity
The launch forms part of a wider shift by Veon’s operating companies toward digital platforms and financial infrastructure.
Kaan Terzioglu, group CEO of Veon, said Mukto Pay reflects the company’s broader strategy of moving beyond traditional telecom services and building digital and financial infrastructure in its markets.
For Banglalink, the PSP licence opens a new commercial layer around its existing mobile business by allowing it to participate directly in digital payments.
That could give the company greater relevance in areas such as commerce, government payments and small-business transactions, where mobile connectivity and digital finance increasingly overlap.
Digital bank ambitions remain on the table
Veon has also applied for a digital bank licence in Bangladesh, indicating that Mukto Pay may form part of a broader financial services strategy.
A PSP licence allows Banglalink to enter the payments market, while a digital bank licence would potentially give Veon access to a wider range of banking activities if approved.
The two initiatives suggest that the group is looking to build a more comprehensive financial services presence rather than limit its ambitions to payment processing alone.
The digital bank application remains separate from the newly approved PSP licence, and no approval has yet been announced for the banking initiative.
Fintech becomes part of Veon’s Bangladesh investment plan
The licence also ties into Veon’s wider investment plans for Bangladesh.
The company previously proposed an “Invest in Bangladesh NOW” public-private partnership framework aimed at helping attract US$1 billion in foreign direct investment to the country.
Veon has committed US$250 million of its own investment over the coming years as an anchor for the initiative.
The company said the funding would focus on digital financial services, advanced connectivity, next-generation digital infrastructure and artificial intelligence.
Mukto Pay therefore sits within a wider strategy that combines telecom infrastructure with digital platforms and financial services.
Why this matters
Banglalink’s entry into digital payments adds another major telecom brand to Bangladesh’s evolving fintech market and demonstrates how operators are seeking new revenue streams beyond voice and data.
The opportunity is particularly significant in a market where digital payments can help bring more individuals, micro-merchants and small businesses into the formal financial system.
For Banglalink, Mukto Pay could deepen customer engagement while creating new transaction-based revenue opportunities. For Veon, it provides another building block in a broader strategy centred on connectivity, fintech and digital services.
Editor’s note
The key development is not simply that Banglalink has received a payments licence, but that Veon is building a layered digital strategy in Bangladesh.
Mukto Pay gives the group a route into everyday transactions, while its separate digital bank application points toward a broader ambition in financial services. Combined with planned investment in connectivity, infrastructure and AI, this suggests Veon increasingly sees telecom networks as the foundation for a wider digital ecosystem.
The next test will be whether Banglalink can convert its nationwide reach into meaningful payments adoption in a market where convenience, trust and merchant acceptance will matter as much as network scale.
