Banglalink has received primary clearance from Bangladesh Bank to introduce its own digital wallet, becoming the second telecom operator-after Grameen Telecom-to move toward launching a payment service provider (PSP) platform in the country.

The leading mobile operator confirmed today that it has been issued a ‘No Objection Certificate’ (NOC) from the central bank, allowing it to begin the preparatory phase for PSP operations. Earlier in June, Grameen Telecom became the first telecom operator to secure a final PSP licence from Bangladesh Bank.

In its official statement, Banglalink described the approval as a major milestone in expanding access to digital financial services nationwide. Typically, the central bank grants a one-year NOC during which applicants must meet a range of regulatory requirements to qualify for the final licence.

As part of the compliance process, the proposed digital wallet company must adopt strict anti-money laundering (AML) and counter-terrorism financing (CTF) protocols, ensure customer due diligence, and meet ICT security standards comparable to those followed by scheduled banks. It must also complete software quality testing, conduct vulnerability assessments, maintain robust data backup and retention procedures, and develop a secure network architecture in line with Bangladesh Bank policies.

Upon launch, Banglalink’s digital wallet is expected to offer a broad suite of financial services, including instant money transfers, remittance processing, utility and government bill payments, e-commerce and merchant transactions, salary disbursement systems, and emerging services such as micro-savings and insurance premium payments. One of the primary goals of the platform is to bring formal financial services within reach of underserved and unbanked communities.

The company stated that the wallet has been designed with a strong security framework to provide safe, reliable, and seamless digital transactions, helping build long-term trust among users. Banglalink also highlighted that the initiative aligns with its “DO1440” strategy to deliver relevant digital and financial services around the clock.

Banglalink, wholly owned by global digital operator Veon, said the approval marks an important step toward expanding digital financial inclusion and supporting the nation’s transition toward a cashless economy.

Johan Buse, CEO of Banglalink, said: “With Banglalink’s nationwide reach and Veon’s global capabilities, we are shaping a secure and inclusive digital payment ecosystem for Bangladesh.”

He added that the approval strengthens the company’s commitment to making simple, safe, and accessible digital financial services available to everyone.

A payment service provider facilitates electronic transactions through scheduled banks and financial institutions. Currently, nine PSPs are licensed in Bangladesh, including iPay Systems, D Money Bangladesh, and Recursion FinTech.

Industry insiders note that mobile operator Robi has also shown interest in launching a digital wallet, while major online marketplaces like Daraz and Chaldal are awaiting decision on their PSP licence applications.