VEON’s Bangladesh subsidiary, Banglalink, has launched a digital payments platform called Mukto Pay in the country.
The commercial launch follows Banglalink receiving a Payment Service Provider licence from Bangladesh Bank in August.
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Mukto Pay allows users to send and receive money, pay utility bills, recharge mobile accounts, and make online payments.
The platform supports online payments at more than 9,500 merchants. Businesses can use a separate merchant application to register for the service, accept payments, and monitor transactions.
The service is available to users regardless of their mobile operator, while Banglalink customers can also access services through a basic mobile phone.
VEON Group CEO Kaan Terzioglu said: “Mukto Pay reflects our long-term commitment to Bangladesh, putting digital financial services directly into the hands of customers and businesses.
“We have seen across our markets that connectivity creates the foundation, but lasting impact comes from building services around the way people live, work and transact. We are bringing that experience to Bangladesh, combining global technology and financial services expertise with Banglalink’s local reach and understanding of its customers.”
The Mukto Pay launch forms part of VEON’s “Invest in Bangladesh NOW” initiative, a public-private partnership with the Government of Bangladesh.
The digital operator has committed an initial $250m investment over the coming years under the initiative. The programme aims to attract a total of $1bn in foreign direct investment for connectivity, digital infrastructure, digital financial services, and AI in Bangladesh.
In September, VEON and Square Group also received Bangladesh Bank approval to establish a digital bank. The proposed bank will be backed by VEON Digital Financial Group and Square Group.
VEON’s financial services platforms had approximately 59 million active customers in Pakistan, Kazakhstan, and Uzbekistan in the second quarter of 2026. The company reported that financial services generated $151m in digital revenue during the quarter.
Bangladesh is VEON’s fourth market for digital financial services.
