Pathao, a digital services company, has obtained permission from the central bank to launch PathaoPay, a digital payment wallet.
PathaoPay, which will be rolled out in the coming months, will enable consumers and small businesses to complete “fast, easy, and secure” payments, the company said in a statement. It will also empower users with “tools to save and spend responsibly and provide them seamless access to funds to manage their finances or meet their business needs”.
“Pathao is far more than a brand or a suite of products — it is a lifestyle. We look beyond to identify ways we can make lives easier for our users by utilising our technology. This has led us towards building a fintech platform on top of Bangladesh’s largest digital services company,” said Fahim Ahmed, managing director & CEO of Pathao.
Pathao’s companies in ride-hailing, food delivery, and e-commerce logistics support over 8 million consumers, 300,000 daily earners, and 60,000 small businesses.
“We are the trusted platform for young Bangladeshis who are fast adopting technology and moving their purchase behaviour or business operations online. And PathaoPay will give them the freedom to spend how they want, manage their finances how they should, and access their funds when they need,” Ahmed added.
On April 2, Bangladesh Bank granted a payment service provider license to Digital Payments Limited, the company’s wholly-owned affiliate.
