Soft Tech Innovation gets licence as payment system operator
The Bangladesh Bank has given Soft Tech Innovation Limited a licence to provide payment gateway services to local merchants under the brand name "aamarPay".
The central bank issued a circular in this regard on Tuesday.
According to the circular, the company will work as a merchant aggregator service provider within the country, complying with all the conditions set by the central bank.
Keep updated, follow The Business Standard's Google news channel
Earlier, the central bank issued payment service provider (PSP)and payment system operator (PSO) licences to ten more companies.
It issued PSP licences to iPay Systems Ltd, Dmoney Bangladesh Ltd, Recursion FinTech Ltd, Green and Red Technologies Limited, Progoti Systems Ltd and PSO licences to IT Consultants Ltd, SSLCOMMERZ, ShurjoMukhi Ltd, Portonics Limited, and Walletmix Limited.
It is worth mentioning that Soft Tech Innovation Limited is a software developing company providing tech-based solutions from 2005. The company has two wings - aamarPay and MuthoFun.
Managing Director at aamarPay Ishtiaque Sarwar told The Business Standard, "We initially was established as a tech-based company, but later we moved mostly to the fintech business in 2015. Till now, we have around 1,200 merchants and are committed to serving the fintech industry more smartly."
"After the PSO licence, approved by the central bank, we have a greater expansion plan to dominate the industry in the future," he added.
