The Bangladesh Bank on Tuesday gave licence to Soft Tech Innovation Ltd to operate as a payment system operator under its brand name of aamarPay, taking the country’s total PSO licensees to seven.
The central bank’s payment systems department issued a circular on Tuesday, saying that the licence was issued under the Bangladesh Payment and Settlement Systems Regulations-2014.
aamarPay has received the licence to provide PSO service as a merchant aggregator, it said.
aamarPay works on money management for online businesses by providing clean, developer-friendly APIs and hassle-free integration, as per the entity’s web site information.
‘We offer a fast, affordable and secure way for merchants, schools, ecommerce and other companies to accept and disburse payments online, and also we aim to provide best B2C super app experience through our flagship product — aamarPay App,’ it said.
Apart from aamarPay, five other existing PSO licensees are IT Consultants Ltd, SSL Commerz Ltd, ShurjoMukhi Ltd, Portonics Limited and Walletmix Limited.
As per the BB rules, PSO operates a settlement system for payment activities between or among participants of which the principal participant must be a scheduled bank or financial institution likes of payment gateway and payment aggregator.
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