Banglalink, the Bangladesh unit of telecom group Veon, has received a Payment Service Provider (PSP) licence from Bangladesh Bank.
The central bank’s approval clears the way for Banglalink to enter the country’s digital payments market with a new service called Mukto Pay.
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In a statement, the company said Mukto Pay is intended to provide “simple, secure and accessible” payment services for customers.
Banglalink is aiming to begin full commercial operations next month, subject to the completion of remaining regulatory and technical requirements.
Once the service goes live, Mukto Pay is expected to support money transfers as well as merchant and e-commerce payments. The proposition will also cover utility and government bill payments, salary and other disbursements, and any additional payment services approved under the PSP framework.
Veon Group CEO Kaan Terzioglu said: “Mukto Pay is a clear example of how our operating companies are moving beyond connectivity to build the digital and financial infrastructure their markets need.
“Bangladesh has enormous potential, and by giving individuals, micro-merchants and small businesses who remain unbanked or underserved a simple way into the formal financial system, Banglalink is helping more people participate in the country’s growth. This reflects a pattern we are building across Veon: connectivity as the foundation, digital financial services as the next layer of value.”
Veon said the PSP authorisation follows progress under a framework it set out in June 2026 for launching “Invest in Bangladesh NOW,” which it described as a proposed public-private partnership with the Government of Bangladesh.
The group said it has committed an initial $250m investment over the coming years under the framework, which also targets $1bn in foreign direct investment focused on connectivity, digital infrastructure, digital financial services and AI in Bangladesh.
Separately, Veon said it is pursuing digital banking opportunities in Bangladesh and has applied for a Digital Bank licence.
