Pathao gets payment service provider license
Pathao's subsidiary, Digital Payments Ltd, has been awarded a payment service provider (PSP) license by the Bangladesh Bank on Sunday.
The license authorises the subsidiary to offer payment services within Bangladesh under the brand name "Pathao Pay."
Fahim Ahmed, the managing director and CEO of Pathao, expressed his satisfaction with the news, stating, "We are very pleased to see the circular regarding the issuance of a PSP license to operate our digital payment wallet Pathao Pay."
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He thanked the Bangladesh Bank for its ongoing support for Pathao's fintech expansion and its efforts to make payments more convenient and accessible to consumers.
"The documentation is still being processed, and the company is eagerly awaiting its arrival," Fahim added.
The country's five other PSP license holders are iPay Systems Ltd, D Money Bangladesh Ltd, Recursion FinTech Ltd, Green & Red Technologies Ltd, Progoti Systems Ltd.
