Bangladesh Bank has issued an urgent public notice cautioning individuals, online merchants, and business entities against conducting financial transactions through 22 unlicenced payment aggregator platforms currently operating across the digital ecosystem.
The supervisory notice, issued on Sunday (27 September) by the central bank’s Payment Systems Supervision Department, confirmed the identification of these unauthorised entities offering payment gateway and aggregation services without regulatory approval. Financial regulators warned that operating, facilitating, or participating in such unlicenced financial activities constitutes a serious breach of national banking regulations.
Payment aggregators act as critical financial intermediaries in the digital economy, connecting online businesses, e-commerce vendors, and consumers to streamline online purchases and money transfers. Given their role in managing sensitive user credentials and handling substantial volumes of consumer money, central banks mandate strict licencing frameworks. Regulatory oversight ensures financial transparency, robust cybersecurity standards, consumer data protection, and safeguards against money laundering. Unauthorised operators operate outside these legal protections, exposing users to risks of fraud, capital misallocation, and loss of funds without statutory recourse.
To enforce market discipline, Bangladesh Bank highlighted the statutory mandates under the Payment and Settlement Systems Act, 2024. Under Section 4(2) of the Act, no individual, enterprise, or company is permitted to run a payment system or provide payment services within Bangladesh without obtaining an explicit licence from the central bank. Section 37(1) of the same legislation specifies that providing unauthorised payment services is a punishable criminal offence.
The regulatory directive forms part of a broader attempt to maintain stability and compliance in the rapidly expanding fintech sector. As digital payments gain widespread adoption among small merchants and consumers, financial authorities are urging the public to verify the regulatory standing of any platform before initiating transactions.
The 22 unlicenced platforms identified by Bangladesh Bank are BohudurPay, ZiniPay, PayTiller, BengaliPay, Payora BD, SohojPay BD, EasyPayWay, AK Pay, BD PAY, ShajgarPay, AsthaPay/CPay, UddoktaPay, Walletmix, BttPay, Easy Pay Automation, UniquePay BD, BD AUTO PAY, RH Pay BD, EzePay, AutoPay Ltd, Biswasto, and PipraPay.
The central bank reiterated that operating unapproved financial intermediaries is not merely a technical breach of compliance but an illegal act. Investigations into unauthorized payment activities remain ongoing as the regulator seeks to secure the national payments infrastructure.
