Banglalink Rolls Out Mukto Pay Digital Wallet in Bangladesh

Banglalink, the Bangladeshi subsidiary of telecoms group VEON, has brought a new digital payments platform to market called Mukto Pay.

The commercial rollout follows the company's receipt of a Payment Service Provider licence from Bangladesh Bank in August, clearing the regulatory path for the service.

The platform enables customers to transfer funds, settle utility bills, top up mobile accounts, and complete online purchases.

Mukto Pay works with more than 9,500 merchants for online transactions. Business owners can register via a dedicated merchant app to accept payments and track transaction activity.

The service is open to all mobile users in Bangladesh, regardless of network. Banglalink subscribers can access the platform through feature phones as well as smartphones.

VEON Group CEO Kaan Terzioglu said: "Mukto Pay reflects our long-term commitment to Bangladesh, putting digital financial services directly into the hands of customers and businesses."

He added: "We have seen across our markets that connectivity creates the foundation, but lasting impact comes from building services around the way people live, work and transact. We are bringing that experience to Bangladesh, combining global technology and financial services expertise with Banglalink's local reach and understanding of its customers."

The Mukto Pay launch is part of VEON's "Invest in Bangladesh NOW" initiative, a public-private partnership with the Bangladeshi government.

VEON has pledged an initial $250m over the next few years under the scheme. The programme targets a total of $1bn in foreign direct investment across connectivity, digital infrastructure, financial services, and AI.

In September, VEON and Square Group received approval from Bangladesh Bank to set up a digital bank. The planned institution will be backed by VEON Digital Financial Group and Square Group.

VEON's financial services platforms served approximately 59 million active customers in Pakistan, Kazakhstan, and Uzbekistan during the second quarter of 2026. The division generated $151m in digital revenue in that period.

Bangladesh is now the fourth market where VEON operates digital financial services.