Students will initially be able to pay Buy Now, Pay Later (BNPL) application fees through upay’s payment services and apply for semester fees financing offered by Community Bank PLC, following a recent partnership between UCB Fintech Company Limited’s upay and SplitPay.
Upon approval by Community Bank PLC, eligible students may avail BNPL facility, enabling repayment of semester fees in instalments in accordance with the bank’s approved terms, said a press release on Sunday.
SplitPay supports the solution as technology facilitation partner under its arrangement with Community Bank in August.
The partnership agreement was signed at upay Headquarters, Dhaka, in the presence of senior officials from UCB Fintech Company Limited, SplitPay and participating universities. upay Head of Corporate Sales Sajjad Alam and SplitPay Founder and Managing Director Jubair Mahmud Pulock signed the agreement on behalf of their respective organisations.
Those present included upay Head of Technology Mamun Reza Khan, upay Head of Human Resources Arpan Kumar Saha and upay Head of Private Education Md Murad Hasan.
North South University Faculty Member Samuel Mursalin, Independent University, Bangladesh representative Afnan Yusuf and SplitPay Director Mir Mutasim Hossain also attended, along with other senior officials from the respective organisations.
The solution will initially be available for participating universities, with the potential to expand to more educational institutions in the future.
