Bangladesh Bank has granted a Payment Service Provider licence to NEO PSP Limited, a subsidiary of Banglalink Digital Communications, expanding the mobile operator’s presence in Bangladesh’s digital payments market.
The licence was issued under Section 5(4) of the Payment and Settlement Systems Act, 2024, subject to conditions set out by the central bank in a letter dated 11 August 2026.
The approval allows NEO PSP Limited to offer payment-related services in line with applicable laws, regulations and Bangladesh Bank requirements.
NEO PSP becomes Bangladesh’s tenth licensed PSP or e-wallet operator
With the addition of NEO PSP, Bangladesh now has 10 licensed payment service providers or e-wallet operators.
The other licensed companies are:
- iPay Systems Ltd
- D Money Bangladesh Ltd
- Recursion FinTech Ltd
- Green & Red Technologies Ltd
- Progoti Systems Ltd
- ABG Technologies Limited
- Digital Payments Limited
- Sheba Fintech Limited
- Shamadhan Services Limited
The latest approval adds a telecom-backed company to an increasingly competitive digital payments landscape.
Banglalink expands beyond core telecom services
The licence gives Banglalink a formal route into regulated digital payments through its subsidiary.
That is strategically significant because telecom operators across emerging markets are increasingly expanding beyond connectivity into payments, wallets and other digital financial services.
For Banglalink, NEO PSP could create opportunities to build payment services around its existing customer base and digital ecosystem.
The source does not specify which products NEO PSP plans to launch first, when services will become commercially available or whether a separate consumer-facing brand will be used.
Licence issued under new payments framework
The approval falls under Bangladesh’s Payment and Settlement Systems Act, 2024.
This gives the licence a clear regulatory basis and places NEO PSP under Bangladesh Bank oversight for its payment operations.
As with other PSPs, the company will be required to operate within the conditions and compliance requirements prescribed by the central bank.
Why this matters
The approval is another sign of convergence between telecom and fintech in Bangladesh.
Mobile operators already have large customer relationships, distribution reach and digital platforms, making payments a natural adjacent market.
If Banglalink uses NEO PSP to launch consumer or merchant payment services, it could increase competitive pressure on existing wallets and PSPs while broadening the role of telecom operators in the country’s digital economy.
Editor’s note
The most important point is that the licence represents regulatory approval, not necessarily a commercial launch.
The next step will be to see what payment products NEO PSP introduces, how they are positioned, and whether Banglalink integrates them directly into its broader digital ecosystem.
That distinction matters because the strategic impact will depend less on the licence itself and more on how quickly the company turns regulatory approval into an active payments proposition.
