Banglalink has secured a Payment Service Provider (PSP) licence from Bangladesh Bank, paving the way for the digital operator to enter the country’s digital payments market with its new service, Mukto Pay.
The digital payment service, which is fully owned by Banglalink, is designed to provide customers with simple, secure, and accessible digital payment solutions, reads a press release.
The initiative aims to help bridge the financial inclusion gap by enabling individuals, micro-merchants, and small businesses—particularly those unbanked or underserved by formal financial services—to participate more actively in the growing digital economy.
The milestone marks a significant step in Banglalink’s expansion into digital financial services, supporting the transformation of Bangladesh’s financial ecosystem. It is also intended to accelerate the country’s transition towards a cashless society and contribute to the national ambition of becoming a $1 trillion economy by 2034.
The licence is part of a broader strategic vision by Banglalink and its parent company, VEON, to invest in and expand digital financial services in Bangladesh. It marks another step in Banglalink’s transformation from a telecommunications company into a digital operator, extending its presence beyond connectivity into digital and financial services designed to meet people’s everyday needs.
Banglalink Chief Executive Officer Johan Buse highlighted the importance of the launch, stating that the nation’s journey towards a cashless society and a trillion-dollar economy requires greater financial inclusion.
“Mukto Pay is an important step in that direction,” Buse said. “By combining Banglalink’s nationwide reach and deep understanding of local customers with VEON’s global digital expertise, we aim to make digital payments simpler, more accessible and more relevant to people’s everyday lives.”
He added that the licence strengthens the company’s ambition to invest further in digital financial services and contribute to building an inclusive, cashless, and digitally empowered Bangladesh.
Mukto Pay will facilitate a variety of digital transactions, including money transfers, merchant and e-commerce payments, utility and government bill payments, and salary and other disbursements, as well as other approved payment services.
Alongside its expansion into digital payments, VEON is also pursuing opportunities in digital banking and has already applied for a Digital Bank licence. VEON Ltd. is a Nasdaq and Euronext-listed Dutch-based connectivity provider headquartered in Dubai.
Banglalink is one of the leading digital communications service providers in Bangladesh, working to create new opportunities for customers as they navigate the digital world.
