Banglalink gets licence to run e-wallet service

Bangladesh Bank on Tuesday granted a licence to NEO PSP Limited, a subsidiary of Banglalink Digital Communications Ltd, to operate as a Payment Service Provider (PSP) in Bangladesh.

The licence was issued under the Payment and Settlement Systems Act, 2024, subject to the conditions set out in the central bank's letter dated August 11, 2026, according to a Bangladesh Bank notification, according to UNB report. 

The licence will allow NEO PSP to offer payment-related services in accordance with applicable laws, regulations, and conditions prescribed by the central bank.

With the addition of NEO PSP, 10 companies are now licensed to operate as payment service providers or e-wallet operators in Bangladesh.

The other nine licensed PSPs are iPay Systems Ltd, D Money Bangladesh Ltd, Recursion FinTech Ltd, Green and Red Technologies Ltd, Progoti Systems Ltd, ABG Technologies Limited, Digital Payments Limited, Sheba Fintech Limited, and Shamadhan Services Limited.