Samadhan Secures PSP Status: Grameen Telecom Arm Gets Green Light for E-Wallet Service
Grameen Telecom’s concern Samadhan Services Limited has been granted a license by the central bank to operate as a Payment Service Provider (PSP), allowing the company to offer cashless digital wallet or e-wallet technology services.
With the inclusion of Samadhan, the number of licensed PSPs in Bangladesh now stands at eight, including iPay Systems, D Money Bangladesh, and Recursion Fintech. Mobile network operators Robi and Banglalink have also expressed interest in launching digital wallet services. Additionally, online marketplaces such as Daraz and Chaldal have already submitted applications seeking PSP licenses.
The Bangladesh Bank’s Payment Systems Department issued the license to Samadhan through an official notification on Monday (June 2), addressing all scheduled banks, mobile financial service providers, payment system operators, and other PSPs.
In accordance with Section 5(4) of the Payment and Settlement Systems Act, 2024, the circular stated: “Bangladesh Bank hereby grants a license to ‘Samadhan Services Limited’ as a Payment Services Provider (PSP) within the country, subject to the conditions outlined in letter no. PSD/ADC&L(Samadhan)/55/2025-1081.”
Samadhan Services Limited initially applied for a PSP license on November 16, 2021. Although the company fulfilled the requirements to obtain a No Objection Certificate (NOC), the central bank took time until August 2024 to reach a decision on the matter. Subsequently, on September 29 last year, Bangladesh Bank granted the NOC, paving the way for Samadhan to receive full PSP licensing.
