Banglalink Authorized to Launch Payment Application in Bangladesh
Banglalink, a subsidiary of Veon, has received a payment service provider (PSP) license from the central bank of Bangladesh to launch a digital payment application called Mukto Pay, which will support e-commerce payments and transfers, aiming to enhance local digital financial services.
What are the key facts?
- 1Banglalink receives payment service provider (PSP) license
- 2Launching Mukto Pay application
- 3Supports e-commerce payments and transfers
What happened?
Banglalink has obtained a payment service provider (PSP) license from the central bank of Bangladesh and will enter the digital payment market. The new service, Mukto Pay, will support fund transfers, merchant payments, and e-commerce payments, aimed at providing customers with simple, secure, and accessible payment services.
What does this mean for cross-border sellers?
The improvement of digital payment infrastructure in Bangladesh will lower the barrier for cross-border e-commerce payments and enhance transaction conversion rates.