Pathao, a tech-based startup that offers courier, e-commerce, ridesharing, and food delivery services, has been granted a license by the Bangladesh Bank to operate as a payment service provider (PSP).
BB on Sunday provided the PSP licence which named “Pathao Pay”.
In 2021, Pathao got the no objection certificate (NOC) from the central bank.
Payment service providers give payments or process payment directly to customers and settle their transactions through a scheduled bank or financial institution such as e-wallet, mobile wallet, etc.
Pathao was founded in 2015 by Hussain M Elius and Shifat Adnan and Fahim Saleh with the dream of making lives better.
Now, there are six PSP operating in the market — Pathao, iPay Systems Ltd, D Money Bangladesh Ltd, Recursion FinTech Ltd, Green & Red Technologies Ltd and Progoti Systems Ltd.
