Chinese financial inclusion solutions provider TOPPAY officially launched its operations in Bangladesh on Saturday and announced plans to build a Tk2,500 crore loan portfolio in the high-potential cardless equated monthly installment (EMI) segment.
The company, which has already invested Tk350 crore to establish its presence in Bangladesh’s growing consumer market, aims to reach 1.5 million customers over the next three to five years, according to its CEO ChenFei, who spoke at the inauguration event held at the company’s office in Gulshan.
TOPPAY introduced the cardless EMI facility, allowing customers to purchase mobile phones through convenient installment plans, eliminating the need for credit cards.
The service is expected to reduce financial barriers, particularly for young professionals and tech enthusiasts who want the latest mobile technology but struggle with one-time payments, the company said in its statement.
The company has entered strategic partnerships with leading mobile brands such as OPPO, realme, and OnePlus.
The collaborations will give customers access to a wide range of mobile devices, available under flexible payment terms. This step addresses the growing demand for accessible financing options, enabling customers to upgrade and purchase devices with ease.
“Our investment will not only enhance mobile financing but also expand into other financial services, payments, and social responsibility initiatives,” said ChenFei.
TOPPAY’s entry into Bangladesh is seen as a key move to increase mobile device accessibility, contributing to the nation’s ongoing digital transformation.
The company aims to support greater smartphone adoption by offering flexible installment plans, making digital services more accessible across the country.
With smartphone ownership on the rise, the demand for digital services—such as mobile banking, e-commerce, and online education—is expected to grow, further integrating Bangladesh into a digitally connected society.
The company’s investment will also benefit local businesses and the broader economy.
“As more people access smartphones, they will be able to engage in digital commerce, driving economic growth,” TOPPAY said in a statement.
TOPPAY’s commitment to financial inclusion aligns with Bangladesh’s efforts to build a more inclusive, technology-driven economy.
By offering accessible payment solutions, TOPPAY ensures that more Bangladeshis can stay connected to the latest technology without the financial burden of large upfront costs, it added.
