Mobile Finance

Veon adds Bangladesh to its digital financial services footprint

Veon adds Bangladesh to its digital financial services footprint

Veon, a global digital operator, has announced the commercial launch of Mukto Pay, a digital payments platform powered by its Bangladesh operating company, Banglalink.

The launch follows the Payment Service Provider (PSP) licence awarded to Banglalink by Bangladesh Bank, the central bank of Bangladesh, which we reported in August.

Veon says Mukto Pay is designed to make digital payments accessible across Bangladesh. In fact in this first phase anyone can use the Mukto Pay app, regardless of mobile operator – and Banglalink customers can also use a basic phone – to send and receive money, pay utility bills and recharge mobile accounts digitally. Customers can also pay online at more than 9,500 merchants, and a dedicated merchant application lets businesses register, receive payments and track transactions.

The platform is also preparing to introduce and promote Bangla QR, Bangladesh's national interoperable QR payment standard.

Veon says this launch reflects continued progress under its Invest in Bangladesh NOW initiative, a proposed public-private partnership with the Government of Bangladesh launched in September 2026 but announced in the summer.

Veon's initial US$250 million anchor investment, committed over the coming years, forms part of that initiative, which aims to attract a total of US$1 billion in foreign direct investment to advance connectivity, digital infrastructure, digital financial services and AI in Bangladesh.

In September, Veon and Square Group, a multinational conglomerate based in Bangladesh, also received Bangladesh Bank's approval to set up a digital bank. The planned digital bank, backed by Veon Digital Financial Group, the financial services division of Veon, and Square Group, is expected to build on Banglalink's connectivity, distribution and digital ecosystem to extend access to formal financial services.

Bangladesh now becomes the fourth market in Veon's digital financial services footprint. its financial services platforms served approximately 59 million active customers across Pakistan, Kazakhstan and Uzbekistan in Q2 2026.



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