Two of Bangladesh’s largest mobile network operators, Robi Axiata Limited and Banglalink, are preparing to launch their own digital payment services, marking a significant expansion into the country’s fast-growing digital financial services (DFS) sector.

Both companies have applied to the Bangladesh Bank for Payment Service Provider (PSP) licenses. Among them, Robi Axiata has already received a no-objection certificate (NOC) to proceed, while Banglalink’s approval is still under review.

According to sources, Robi has established a new company called SmartPay Limited, and Banglalink has formed New PSP Limited to operate their respective payment services. A Payment Service Provider (PSP) acts as an intermediary that processes digital payments on behalf of merchants — receiving funds from customers via credit or debit cards and transferring the amount directly to the merchant’s account. PSPs play a crucial role in enabling cashless transactions between consumers and retailers.

To obtain a PSP license, a company must have a minimum paid-up capital of BDT 20 crore.

Regulatory Support and Market Impact

Confirming the development, Arif Hossain Khan, Executive Director and Spokesperson of Bangladesh Bank, said:

“Both companies have applied for PSP licenses — one has received the NOC, and the other is under consideration. We welcome globally experienced players into Bangladesh’s digital transaction market, as this will enhance service quality, benefit customers, and reduce dependence on cash.”

He added that Bangladesh spends around BDT 20,000 crore annually to print and distribute physical currency, which involves significant risks and logistical challenges.

“Moving toward a cashless transaction system is now essential. It will not only improve revenue collection but also help prevent money laundering and corruption,” Khan explained.

Interest in Digital Banking

Meanwhile, VEON Group, the parent company of Banglalink, has also expressed its intention to enter Bangladesh’s digital banking space. In a letter to Bangladesh Bank Governor Ahsan H. Mansur on September 14, the group sought permission to apply for a digital bank license.

Industry insiders believe the entry of Robi and Banglalink into the payments ecosystem will intensify competition and broaden digital inclusion. Together, the two operators serve nearly 100 million subscribers, giving them a massive user base to build upon. Their participation is expected to drive innovation, price competitiveness, and service quality across the DFS sector.

Corporate Perspective

Shahed Alam, Chief Corporate and Regulatory Officer of Robi Axiata, commented:

“Following Bangladesh Bank’s guidance, we applied for the PSP license to enhance our ongoing digital initiatives. We’ve received the NOC for SmartPay Limited, which will mark a new chapter in the country’s digital inclusion journey. Our goal is to make cashless transactions easier, safer, and more inclusive for everyone.”

Current Landscape

Currently, nine licensed PSPs operate in Bangladesh, including:
iPay Systems, D Money Bangladesh, Progoti Systems, Green and Red Technologies, Recursion Fintech, Digital Payments Limited, ABG Technologies, Sheba Fintech, and Shamadhan Services Limited.

Bangladesh Bank has also hinted that PSPs may later be upgraded to Mobile Financial Service (MFS) providers, potentially transforming the digital payments market into a more competitive and integrated ecosystem.

With telecom giants now entering the space, Bangladesh’s digital transaction industry is poised for a new phase of rapid innovation, inclusion, and financial modernization.

Editor at  – alikodarpolas@gmail.com – Web

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