Banglalink has moved closer to entering Bangladesh’s rapidly expanding digital finance market after securing a No Objection Certificate (NOC) from the Bangladesh Bank to operate as a Payment Service Provider (PSP). The approval, issued on Wednesday, allows the telecom operator to begin preparing for full-scale operations in digital payments.

Confirming the development, Bangladesh Bank spokesperson Arif Hossain Khan said the central bank has recently granted Banglalink the NOC required for PSP status. He noted that the final licence will be issued after the company completes technical setup and undergoes a regulatory inspection.

As a PSP, Banglalink will be able to facilitate digital transactions—including money transfers, merchant payments, utility and government bill payments, and salary disbursements though it will not have the authority to hold customer deposits like mobile financial service (MFS) operators such as bKash and Nagad.

Industry experts say the move positions Banglalink to compete directly with bKash, Nagad, Rocket, and internet banking platforms as the digital payments ecosystem continues to diversify.

Banglalink, fully owned by global digital services provider VEON, described the central bank’s approval as a major milestone toward boosting digital financial inclusion and supporting Bangladesh’s transition to a cashless economy.

Johan Buse, Chief Executive Officer of Banglalink, said the company aims to build a secure and inclusive digital payment network across the country. “With Banglalink’s nationwide reach and VEON’s global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh. This approval reinforces our belief that simple, safe and accessible digital financial services should be available to everyone,” he said.

He added that under Banglalink’s DO1440 strategy focused on enhancing every minute of users’ lives the company will continue delivering digital innovations that empower communities and contribute to a future-ready digital economy.

Banglalink said millions of its users will soon gain access to safer and more convenient financial services integrated directly into their mobile devices. Planned offerings include instant fund transfers, remittances, merchant and e-commerce payments, government and utility bill processing, salary disbursements, and emerging services like micro-savings and insurance premium payments.

The company is currently finalising preparations for commercial rollout in close coordination with the Bangladesh Bank and partner organisations.