Bangladesh

• Aliases: BACH RTGS, Bangladesh RTGS, Bangladesh Bank RTGS System
• Category: RTGS, interbank_settlement, gross_settlement
• Description: Real-Time Gross Settlement system operated by Bangladesh Bank for large-value, time-critical interbank payments in Bangladeshi Taka. Processes payments on gross basis with immediate settlement and finality; backbone of formal banking sector. Daily operations 8:30 AM – 4:30 PM business days.
• Operator: Bangladesh Bank (Central Bank)
• Operator Type: Central Bank
• Regulatory Oversight: Bangladesh Bank
• User Segment: All licensed commercial and development banks (60+ participants)
• Availability: Business hours (8:30 AM – 4:30 PM Bangladesh Standard Time)
• Use Cases: Large-value interbank transfers, reserves adjustments, settlement of net positions from BEFTN, high-priority payment flows, emergency liquidity
• Settlement Type: Gross settlement with real-time finality
• Domestic/Cross-border: Domestic (BDT); cross-border correspondent settlement through SWIFT
• Status: Operational; mature system with continuous upgrades
• Launch Year: 1998 (original); modernized multiple times; current version operational
• Official URL: https://www.bb.org.bd/
• Technical Notes: Participants maintain settlement accounts at Bangladesh Bank; daily limits and settlement protocols; disaster recovery procedures; 24/7 monitoring by BB operations team
• Evidence Note: Bangladesh Bank operates publication on payment system statistics and operational metrics
• Sources: Bangladesh Bank Official, BB Payment System Statistics

• Aliases: BEFTN, ACH, Batch Clearing System, Bangladesh ACH
• Category: ACH, batch_clearing, domestic_bank_transfer
• Description: Automated Clearing House batch processing system for lower-value interbank transactions. Daily clearing cycles (typically 2-3 cycles per day) with net settlement through BACH. Cost-effective backbone for retail and business transfers including salary disbursements, pension payments, bill settlements.
• Operator: Bangladesh Automated Clearing House Limited (BB subsidiary)
• Operator Type: Central bank infrastructure operator
• Regulatory Oversight: Bangladesh Bank
• User Segment: 60+ licensed banks; corporate entities; government agencies (salary, pension processing)
• Availability: Daily batch processing; clearing cycles typically 8 AM, 12 PM, 4 PM
• Use Cases: Employee salary transfers, pension payments, business-to-business (B2B) transfers, bill payments, bulk fund transfers, government-to-person payments
• Settlement Type: Net settlement daily through BACH
• Domestic/Cross-border: Domestic
• Status: Operational; critical infrastructure for Bangladesh's corporate payment flows
• Launch Year: 1990s (original); continuously upgraded
• Official URL: https://www.bb.org.bd/
• Technical Notes: File-based submission; bank code lookups; transaction limit controls; reconciliation protocols
• Evidence Note: Essential for Bangladesh's formal banking payment volume; documented in BB annual reports
• Sources: Bangladesh Bank Official, BB Payment System Department

• Aliases: NPSB, National Switch, Bangladesh Interoperability Switch
• Category: National Payment Switch, instant_payments, interoperability_platform
• Description: Landmark payment infrastructure initiative launched November 1, 2025, to enable seamless interoperability between banks, MFS providers (bKash, Nagad, Rocket, Upay, Tap), and payment service providers. Designed by Bangladesh Bank to facilitate cross-platform fund transfers at low fixed fees, enabling financial inclusion and reducing payment friction. Status as of April 2026: Operational with growing participation; bKash targeted January 31, 2026 (implementation ongoing); Nagad full integration Q1 2026; 10+ smaller MFS providers participating; 20+ banks connected.
• Operator: Bangladesh Bank (policy/oversight) / Bangladesh Automated Clearing House Limited (technical operation)
• Operator Type: Central bank infrastructure; private sector technical operation
• Regulatory Oversight: Bangladesh Bank (policy, fee structure, compliance)
• User Segment: Banks (20+ live), MFS providers (13 licensed; 3+ actively participating), payment service providers, individual users (consumers and merchants)
• Availability: 24/7/365 (designed for round-the-clock settlement)
• Use Cases: Cross-platform transfers (bank-to-MFS, MFS-to-bank, MFS-to-MFS, bank-to-bank), peer-to-peer transfers, merchant payments, bill payments, salary disbursement
• Settlement Type: Real-time settlement with immediate fund availability
• Domestic/Cross-border: Domestic (Bangladesh-only at launch; cross-border expansion roadmap under development)
• Status: Operational (November 1, 2025 onwards); expanding ecosystem participation
• Launch Year: October 2025 (policy announcement); November 1, 2025 (operational launch)
• Official URL: https://www.bb.org.bd/
• Technical Notes:
• Fee structure: Bank-to-MFS Tk 1.50 per Tk 1,000 (0.15%); MFS-to-MFS Tk 8.50 per Tk 1,000 (0.85%); bank-to-bank Tk 1.00 per Tk 1,000 (0.10%)
• Fees charged to sender only; recipients pay nothing
• 24/7 settlement; transaction limits per transfer (typically Tk 500,000-2,000,000 depending on provider)
• Failure handling and reconciliation procedures
• Evidence Note: Bangladesh Bank October 2025 circular (DPSS Circular No. 01/2025); documented NPSB challenges and market expectations for Q1 2026 completion; multiple independent analyses confirm interoperability roadmap
• Sources: NPSB Regulatory Circular, MFS Interoperability Bangladesh 2026, TBS News — NPSB Integration, MicroSave Analysis

• Aliases: Bkash, bKash Mobile Money, BRAC's bKash, Bkash Limited
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: Bangladesh's largest and most dominant MFS provider. 50+ million registered users (as of 2025) with market leadership in mobile financial services. Operates through dual-access model: USSD (SIM-toolkit) for non-smartphone users and mobile app (iOS/Android) for smartphone users. Offers peer-to-peer transfers, merchant payments, bill payments, loan services, insurance products, and financial services to unbanked populations. Captured 35%+ of MFS transaction volume by 2025. Strong rural agent network (200,000+ agents) enabling cash-in/cash-out (CICO) services.
• Operator: bKash Limited (subsidiary of BRAC, Bangladesh's largest NGO; BRAC also operates development programs, microfinance, schools)
• Operator Type: MFS provider (bank-independent model; operates as non-bank financial institution)
• Regulatory Oversight: Bangladesh Bank (MFS regulation and licensing)
• User Segment: 50+ million users; primarily lower-income, rural, unbanked populations; increasingly used by urban middle-class for convenience
• Availability: 24/7/365 (app and USSD channels)
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments (P2M), remittances (domestic and international), bill payments (utilities, insurance, government), financial services (loans, insurance)
• Settlement Type: Through NPSB and participating banks (Dutch-Bangla Bank primary settlement partner); daily net settlement through BACH
• Domestic/Cross-border: Domestic (primary); limited international remittance capability through partnership corridors (Gulf countries, Malaysia, Singapore)
• Status: Operational; market leader; NPSB integration targeted January 31, 2026 (implementation in progress)
• Launch Year: 2009
• Official URL: https://www.bkash.com/
• Technical Notes:
• USSD access: *111# (Banglalink, Robi, Teletalk) and +880XXXXXXXX SMS for GrameenPhone
• App-based: bKash app available on iOS App Store and Google Play Store
• Agent-based CICO network with fraud controls and transaction limits
• Real-time notifications via SMS/push
• Pin-based authentication
• Evidence Note: Market leader; strongest brand in Bangladesh MFS space; 50+ million users represents largest MFS operator in South Asia by user base; documented strong growth 2009-2025
• Sources: bKash Official, bKash Annual Reports, MFS Market Analysis Bangladesh, BRAC Annual Reports

• Aliases: Nagad Mobile Money, Bangladesh Post Office Mobile Service, Nagad Limited
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: Bangladesh's second-largest MFS provider with 30+ million registered users. Unique market position: operated by Nagad Limited (subsidiary of Bangladesh Post Office) with government backing and integration into postal network. Leverages 10,000+ postal branches nationwide for agent CICO services. Offers peer-to-peer transfers, merchant payments, bill payments, government benefit disbursement, postal services integration. Strategic importance due to government backing and rural postal network reach.
• Operator: Nagad Limited (subsidiary of Bangladesh Post Office)
• Operator Type: Government entity operating as MFS provider
• Regulatory Oversight: Bangladesh Bank (MFS regulation and licensing)
• User Segment: 30+ million users; particularly strong in rural and semi-urban areas; government agencies (benefit disbursement programs)
• Availability: 24/7/365 (app and USSD channels)
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments, bill payments, government benefit disbursement (social safety nets), postal service integration
• Settlement Type: Through NPSB (expected operational by January 2026); bank settlement partners including Commercial Bank of Bangladesh, Eastern Bank
• Domestic/Cross-border: Domestic
• Status: Operational; MFS license obtained 2019; full NPSB integration timeline adjusted; expected Q1 2026 completion
• Launch Year: 2019
• Official URL: https://www.nagad.com.bd/
• Technical Notes:
• Unique government backing through postal network
• 10,000+ postal branch agent network
• USSD access through multiple operators
• Integration with Bangladesh Post Office services
• Government benefit disbursement partnerships
• Evidence Note: Second-largest MFS provider by user base; strategic importance given government backing and postal infrastructure; documented licensing and NPSB integration timelines
• Sources: Nagad Official, Bangladesh Post Office, Nagad NPSB Licensing

• Aliases: Rocket Mobile Money, Dutch-Bangla Rocket, Rocket Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: Third-largest MFS provider with 25+ million registered users. Operated by Rocket (subsidiary of Dutch-Bangla Bank Limited, a private commercial bank). Bank-operated model provides settlement efficiency and banking integration. Offers peer-to-peer transfers, merchant payments, bill payments, loans, insurance. Pioneer in NPSB integration (one of only 3 MFS providers at November 1, 2025 launch).
• Operator: Rocket (subsidiary of Dutch-Bangla Bank Limited, private commercial bank)
• Operator Type: Bank-operated MFS provider
• Regulatory Oversight: Bangladesh Bank (MFS regulation)
• User Segment: 25+ million users; individual consumers, merchants, SMEs
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments, bill payments, loans, insurance products
• Settlement Type: Through NPSB (operational since November 1, 2025); daily settlement through Dutch-Bangla Bank
• Domestic/Cross-border: Domestic
• Status: Operational; full NPSB integration (November 1, 2025 onwards); early NPSB adopter
• Launch Year: 2011
• Official URL: https://www.rocketbd.com/
• Technical Notes:
• App-based access
• Strong integration with Dutch-Bangla Bank infrastructure
• NPSB integration demonstrates operational readiness
• Merchant payment focus
• Evidence Note: Major MFS player; successful early NPSB integration; documented as operational since 2011
• Sources: Rocket Official, Dutch-Bangla Bank, Rocket NPSB Integration

• Aliases: Upay Mobile Money, Upay Digital, Upay Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: Fourth-tier MFS provider with 5-10 million users. Operated as a fintech startup with focus on merchant payments and digital payments ecosystem. Mobile app-based access. Growing presence in urban and semi-urban merchant segments.
• Operator: Upay Digital Limited (fintech startup)
• Operator Type: Fintech MFS provider
• Regulatory Oversight: Bangladesh Bank (MFS regulation)
• User Segment: 5-10 million users; merchants, SMEs, urban consumers
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments, online payments
• Settlement Type: Through NPSB (November 1, 2025 onwards)
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant since November 1, 2025
• Launch Year: 2017
• Official URL: https://www.upay.digital/ (or upay.com.bd)
• Technical Notes: App-based service; merchant focus; digital-native fintech model
• Evidence Note: Emerging MFS provider; NPSB participant; growing market presence
• Sources: Upay Official, NPSB MFS Participants

• Aliases: Tap Mobile Money, TapEasy, Tap Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: Emerging MFS provider operating mobile wallet and peer-to-peer payment services. Focus on user-friendly interface and digital payment adoption. 2-5 million users estimated. NPSB participant since November 1, 2025.
• Operator: Tap (fintech startup)
• Operator Type: Fintech MFS provider
• Regulatory Oversight: Bangladesh Bank (MFS regulation)
• User Segment: 2-5 million users; urban digital-native consumers
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, online payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2016-2017
• Official URL: https://tapeasy.com.bd/ or similar
• Technical Notes: Digital-first approach; app-based; focus on user experience
• Evidence Note: Emerging player; documented NPSB participation
• Sources: Tap Official

• Aliases: SureCash Mobile Money, SureCash Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: MFS provider with focus on merchant payments and digital ecosystem integration. 1-3 million users. NPSB participant.
• Operator: SureCash (MFS operator)
• Operator Type: MFS provider
• Regulatory Oversight: Bangladesh Bank
• User Segment: 1-3 million users
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2013-2015
• Official URL: https://www.surecash.com.bd/ or similar
• Evidence Note: Licensed MFS provider; NPSB participation
• Sources: SureCash Official

• Aliases: MCash Mobile Money, MCash Bangladesh, Mangrove Cash
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: MFS provider with 1-2 million users. NPSB participant. Focus on peer-to-peer and merchant services.
• Operator: MCash (MFS operator)
• Operator Type: MFS provider
• Regulatory Oversight: Bangladesh Bank
• User Segment: 1-2 million users
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2011-2013
• Official URL: https://www.mcash.com.bd/ or similar
• Evidence Note: Licensed MFS provider
• Sources: Bangladesh Bank MFS Directory

• Aliases: OK Wallet, Okey Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: MFS provider operated by Okey. NPSB participant. 1-2 million users estimated.
• Operator: Okey (MFS operator)
• Operator Type: MFS provider
• Regulatory Oversight: Bangladesh Bank
• User Segment: 1-2 million users
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2015-2017
• Official URL: https://www.okey.app/ or similar
• Evidence Note: Licensed MFS provider; NPSB participant
• Sources: Bangladesh Bank MFS Directory

• Aliases: iPay Mobile Money, iPay Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: MFS provider with focus on digital payments. 1-2 million users. NPSB participant.
• Operator: iPay (MFS operator)
• Operator Type: MFS provider
• Regulatory Oversight: Bangladesh Bank
• User Segment: 1-2 million users
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, online payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2013-2015
• Official URL: https://www.ipaybd.com/ or similar
• Evidence Note: Licensed MFS provider
• Sources: Bangladesh Bank MFS Directory

• Aliases: Q-Cash Mobile Money, Q-Cash Bangladesh
• Category: Mobile Money Service Provider (MMSP), digital_wallet, e_wallet
• Description: MFS provider with 500K-2M users. NPSB participant. Focus on merchant and consumer payments.
• Operator: Q-Cash (MFS operator)
• Operator Type: MFS provider
• Regulatory Oversight: Bangladesh Bank
• User Segment: 500K-2M users
• Availability: 24/7/365
• Use Cases: Mobile wallet, peer-to-peer transfers, merchant payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: Operational; NPSB participant
• Launch Year: 2013-2015
• Official URL: https://www.qcash.com.bd/ or similar
• Evidence Note: Licensed MFS provider
• Sources: Bangladesh Bank MFS Directory

• Aliases: Fonepay, Fonepay Bangladesh
• Category: Payments Service Provider, bill_payments, utility_payments
• Description: Payments service provider focused on bill payments, utility payments, and government services. Integrated with multiple banks and MFS providers. Operates online payment gateway.
• Operator: Fonepay (payments service provider)
• Operator Type: Bill/utility payments aggregator
• Regulatory Oversight: Bangladesh Bank
• User Segment: Individual consumers, government agencies
• Availability: 24/7/365
• Use Cases: Utility bill payments (electricity, water, gas), government services payments, tax payments
• Settlement Type: Through participating banks and MFS providers
• Domestic/Cross-border: Domestic
• Status: Operational
• Launch Year: 2010s
• Official URL: https://www.fonepay.com/ or similar
• Evidence Note: Established bill payment service provider
• Sources: Fonepay Official

• Aliases: Nexus Bangladesh, Nexus Debit, Bangladesh Nexus
• Category: Domestic Card Scheme, debit_card_scheme
• Description: Domestic debit card scheme operated by NPSB (National Payment Switch Bangladesh) to enable cross-bank debit transactions. Positions Bangladesh to reduce dependence on Visa/Mastercard for domestic debit transactions. Full implementation timeline under development; positioned as alternative to international schemes for domestic transactions.
• Operator: National Payment Switch Bangladesh (NPSB) / Bangladesh Automated Clearing House Limited
• Operator Type: Central bank infrastructure / payment system operator
• Regulatory Oversight: Bangladesh Bank
• User Segment: All bank customers
• Availability: At merchant terminals and ATMs; 24/7
• Use Cases: Retail payments at merchant terminals, ATM withdrawals, online payments
• Settlement Type: Through NPSB
• Domestic/Cross-border: Domestic
• Status: In development; operational pilots expected 2026
• Launch Year: 2025-2026 (planned)
• Official URL: https://www.bb.org.bd/
• Technical Notes: Designed to reduce international scheme fees (Visa/Mastercard typically charge 1-2% per transaction); strategic goal to strengthen Bangladesh payment sovereignty
• Evidence Note: Part of NPSB broader infrastructure initiative; Bangladesh Bank priority for domestic payments ecosystem
• Sources: NPSB Regulatory Framework

• Aliases: DBBL Nexus, Dutch-Bangla Nexus, Nexus Debit Card
• Category: Debit Card, domestic_card_scheme
• Description: Domestic debit card system operated by Dutch-Bangla Bank Limited. Enables cross-bank debit transactions and ATM withdrawals. Integrated with national ATM network.
• Operator: Dutch-Bangla Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• User Segment: Dutch-Bangla Bank customers and partner bank customers
• Availability: 24/7 at ATMs and merchant terminals
• Use Cases: ATM withdrawals, retail payments, balance inquiries
• Settlement Type: Through BEFTN/BACH
• Domestic/Cross-border: Domestic
• Status: Operational; mature infrastructure
• Launch Year: 1990s onwards
• Official URL: https://www.dbbl.com.bd/
• Evidence Note: Standard banking infrastructure
• Sources: Dutch-Bangla Bank Official

• Aliases: Visa Bangladesh, VISA, Visa Inc. Bangladesh
• Category: International Card Scheme, credit_debit_card
• Description: Visa payment scheme operating in Bangladesh. Enables credit and debit card payments domestically and internationally. Widely accepted at merchant terminals and online. Primary international card scheme in Bangladesh alongside Mastercard.
• Operator: Visa Inc. (global payment network)
• Operator Type: International payment scheme operator
• Regulatory Oversight: Bangladesh Bank, Visa compliance requirements
• User Segment: Bank customers with Visa cards; merchants accepting Visa
• Availability: 24/7 at merchants and online
• Use Cases: Retail payments, online purchases, international transactions, cash advances
• Settlement Type: Through BEFTN/BACH; international settlement through correspondent banks via SWIFT
• Domestic/Cross-border: Domestic and cross-border
• Status: Operational; mature scheme
• Launch Year: 1970s (global); Bangladesh operations from 1980s onwards
• Official URL: https://www.visa.com/
• Technical Notes: Visa 4-series cards; EMV chip technology; contactless payments; tokenization support
• Evidence Note: Primary international card scheme; widely used in Bangladesh banking sector
• Sources: Visa Official, Bangladesh Bank Card Scheme Directory

• Aliases: Mastercard Bangladesh, Mastercard, MasterCard Inc.
• Category: International Card Scheme, credit_debit_card
• Description: Mastercard payment scheme operating in Bangladesh. Enables credit and debit card payments domestically and internationally. Widely accepted alongside Visa. Second-largest international card scheme in Bangladesh.
• Operator: Mastercard International (global payment network)
• Operator Type: International payment scheme operator
• Regulatory Oversight: Bangladesh Bank, Mastercard compliance requirements
• User Segment: Bank customers with Mastercard cards; merchants accepting Mastercard
• Availability: 24/7 at merchants and online
• Use Cases: Retail payments, online purchases, international transactions, cash advances
• Settlement Type: Through BEFTN/BACH; international settlement through correspondent banks via SWIFT
• Domestic/Cross-border: Domestic and cross-border
• Status: Operational; mature scheme
• Launch Year: 1960s (global); Bangladesh operations from 1990s onwards
• Official URL: https://www.mastercard.com/
• Technical Notes: Mastercard 5-series cards; EMV chip technology; contactless payments; tokenization support
• Evidence Note: Primary international card scheme; widely used in Bangladesh banking sector
• Sources: Mastercard Official, Bangladesh Bank Card Scheme Directory

• Aliases: UnionPay Bangladesh, UnionPay, China UnionPay
• Category: International Card Scheme, credit_debit_card
• Description: UnionPay International card scheme operating in Bangladesh. Growing presence particularly in areas with Chinese investment and trade relationships. Enables credit and debit card payments.
• Operator: UnionPay International (China-based global payment network)
• Operator Type: International payment scheme operator
• Regulatory Oversight: Bangladesh Bank, UnionPay compliance requirements
• User Segment: Bank customers with UnionPay cards; merchants accepting UnionPay
• Availability: 24/7 at merchants and online
• Use Cases: Retail payments, online purchases, international transactions
• Settlement Type: Through BEFTN/BACH; international settlement through SWIFT
• Domestic/Cross-border: Domestic and cross-border
• Status: Operational; growing presence
• Launch Year: 2000s (global); Bangladesh expansion 2010s onwards
• Official URL: https://www.unionpayintl.com/
• Technical Notes: UnionPay cards; growing merchant acceptance globally
• Evidence Note: Growing presence in Bangladesh; documented partnership with local banks
• Sources: UnionPay Official

• Aliases: JCB Bangladesh, JCB, Japan Credit Bureau
• Category: International Card Scheme, credit_debit_card
• Description: JCB (Japan Credit Bureau) card scheme operating in Bangladesh. Primarily credit card scheme. Limited merchant acceptance compared to Visa/Mastercard but growing through partnership agreements.
• Operator: Japan Credit Bureau (global payment network)
• Operator Type: International payment scheme operator
• Regulatory Oversight: Bangladesh Bank, JCB compliance requirements
• User Segment: Premium bank customers with JCB cards; merchants accepting JCB
• Availability: 24/7 at merchants and online
• Use Cases: Retail payments, online purchases, international transactions
• Settlement Type: Through BEFTN/BACH; international settlement through SWIFT
• Domestic/Cross-border: Domestic and cross-border
• Status: Operational; limited but growing presence
• Launch Year: 1960s (global); Bangladesh presence 1990s onwards
• Official URL: https://www.global.jcb/
• Technical Notes: JCB cards (typically 35xx series); growing merchant acceptance
• Evidence Note: Niche card scheme in Bangladesh; premium positioning
• Sources: JCB Official

• Aliases: ShopUp, ShopUp Bangladesh, ShopUp Payments
• Category: Merchant Payment Platform, e_commerce_payments, payments_platform
• Description: E-commerce and merchant payment platform focused on SMEs and online retailers. Provides point-of-sale solutions, payment gateway, and settlement services. Integration with Nagad and bKash for customer payments.
• Operator: ShopUp (fintech startup)
• Operator Type: Merchant payments platform operator
• Regulatory Oversight: Bangladesh Bank (indirect; payment services compliance)
• User Segment: SMEs, online retailers, merchants
• Availability: 24/7 online platform
• Use Cases: E-commerce payment processing, merchant settlements, online sales platform
• Settlement Type: Through partner banks and MFS providers
• Domestic/Cross-border: Domestic (with some international exposure through export sales)
• Status: Operational; growing merchant adoption
• Launch Year: 2017-2018
• Official URL: https://shopup.com.bd/ or https://www.shopup.com/
• Technical Notes: Online platform; integration with multiple payment methods; merchant analytics
• Evidence Note: Emerging fintech player; significant SME adoption
• Sources: ShopUp Official

• Aliases: NagadHat, Nagad eCommerce, Nagad Marketplace
• Category: E-commerce Platform, marketplace, payments_platform
• Description: E-commerce marketplace and payments platform operated by Nagad Limited. Integrates Nagad MFS for payments. Focus on SME merchants and consumer e-commerce.
• Operator: Nagad Limited (Bangladesh Post Office subsidiary)
• Operator Type: E-commerce platform operator
• Regulatory Oversight: Bangladesh Bank (indirect; payment services)
• User Segment: SME merchants, consumers
• Availability: 24/7 online platform
• Use Cases: E-commerce sales, merchant payments, marketplace transactions
• Settlement Type: Through Nagad MFS
• Domestic/Cross-border: Domestic
• Status: Operational; integrated with Nagad ecosystem
• Launch Year: 2020s
• Official URL: https://www.nagadhat.com/ or similar
• Evidence Note: Government-backed e-commerce initiative
• Sources: Nagad Official

• Aliases: Binimoy, Bangladesh CBDC, Digital Taka, Binimoy Pilot
• Category: Central Bank Digital Currency (CBDC), blockchain, digital_currency
• Description: Bangladesh Bank's Central Bank Digital Currency (CBDC) pilot program launched December 2025 for interbank settlement. Designed to modernize interbank payment infrastructure, reduce settlement costs, and enable 24/7 real-time settlement. Initially focused on wholesale use (bank-to-bank); retail CBDC expansion under evaluation.
• Operator: Bangladesh Bank (central bank)
• Operator Type: Central Bank
• Regulatory Oversight: Bangladesh Bank
• User Segment: Licensed banks (pilot participants); eventual expansion to consumers (TBD)
• Availability: December 2025 onwards (pilot); 24/7/365 design
• Use Cases: Interbank settlement, liquidity management, future retail payments (under evaluation)
• Settlement Type: Blockchain-based settlement with immediate finality
• Domestic/Cross-border: Domestic (currently); cross-border potential for future phases
• Status: Operational (pilot phase); December 2025 launch
• Launch Year: December 2025 (pilot)
• Official URL: https://www.bb.org.bd/
• Technical Notes:
• Blockchain-based infrastructure (technology partner to be confirmed)
• Wholesale CBDC model (bank-to-bank settlement)
• 24/7 settlement capability
• Initial pilot with 5-10 banks
• Phase 2 (retail CBDC) timeline under evaluation
• Evidence Note: Bangladesh Bank official announcement December 2025; modern CBDC infrastructure initiative aligned with global central bank trends
• Sources: Bangladesh Bank CBDC Announcement, Bangladesh CBDC Pilot or similar

B24. Sonali Bank Limited

• Category: Commercial Bank (state-owned)
• Description: Bangladesh's largest state-owned commercial bank. Major BACH/BEFTN participant; handles large volume of government salary disbursements and corporate payments.
• Operator: Sonali Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; core banking infrastructure
• Official URL: https://www.sonalibank.com.bd/
• Settlement: BACH, BEFTN, NPSB
• Sources: Sonali Bank Official

B25. Janata Bank Limited

• Category: Commercial Bank (state-owned)
• Description: State-owned commercial bank. Major BACH/BEFTN participant; significant government payment volume.
• Operator: Janata Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; core banking infrastructure
• Official URL: https://www.janatagroupbd.com/
• Settlement: BACH, BEFTN, NPSB
• Sources: Janata Bank Official

B26. Agrani Bank Limited

• Category: Commercial Bank (state-owned)
• Description: State-owned commercial bank. BACH/BEFTN participant; government payment volume.
• Operator: Agrani Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• Status: Operational
• Official URL: https://www.agrani.com.bd/
• Settlement: BACH, BEFTN, NPSB
• Sources: Agrani Bank Official

B27. Rupali Bank Limited

• Category: Commercial Bank (state-owned)
• Description: State-owned commercial bank. BACH/BEFTN participant.
• Operator: Rupali Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• Status: Operational
• Official URL: https://www.rupalibank.gov.bd/
• Settlement: BACH, BEFTN, NPSB
• Sources: Rupali Bank Official

B28. Dutch-Bangla Bank Limited

• Category: Commercial Bank (private)
• Description: Major private commercial bank. Operates Rocket MFS provider. Strong NPSB integration. Innovative banking services.
• Operator: Dutch-Bangla Bank Limited
• Operator Type: Commercial bank
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB early adopter
• Official URL: https://www.dbbl.com.bd/
• Settlement: BACH, BEFTN, NPSB; Rocket MFS operator
• Sources: Dutch-Bangla Bank Official

B29. BRAC Bank Limited

• Category: Commercial Bank (private)
• Description: Major private bank. BRAC is also parent of bKash MFS. Strong retail and corporate presence.
• Operator: BRAC Bank Limited
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB
• Sources: BRAC Bank Official

B30. Eastern Bank Limited

• Category: Commercial Bank (private)
• Description: Major private bank; Nagad settlement partner. Strong corporate banking.
• Operator: Eastern Bank Limited
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB
• Sources: Eastern Bank Official

B31. The City Bank Limited

• Category: Commercial Bank (private)
• Description: Major private bank. Strong retail and corporate banking. NPSB participant.
• Operator: The City Bank Limited
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB
• Sources: City Bank Official

B32. Islami Bank Bangladesh Limited

• Category: Islamic Bank
• Description: Major Islamic bank; operates mCash MFS provider. Sharia-compliant banking services. NPSB participant.
• Operator: Islami Bank Bangladesh Limited
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB; mCash MFS operator
• Sources: Islami Bank Official

B33. Standard Chartered Bank Bangladesh

• Category: Commercial Bank (international)
• Description: International commercial bank with Bangladesh operations. Strong corporate and trade finance presence.
• Operator: Standard Chartered Bank Bangladesh
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB
• Sources: Standard Chartered Bangladesh

B34. HSBC Bank Bangladesh

• Category: Commercial Bank (international)
• Description: International commercial bank with Bangladesh operations. Corporate and trade finance focus.
• Operator: HSBC Bank Bangladesh
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participant
• Settlement: BACH, BEFTN, NPSB
• Sources: HSBC Bangladesh

B35. Chittagong Bank (and Regional Banks)

• Category: Commercial Bank (private regional)
• Description: Regional commercial banks with significant local presence. Multiple regional banks operate; Chittagong Bank is example. NPSB participants.
• Operator: Various regional bank operators
• Regulatory Oversight: Bangladesh Bank
• Status: Operational; NPSB participants
• Settlement: BACH, BEFTN, NPSB
• Sources: Bangladesh Bank Licensed Bank Directory

• Aliases: Bangladesh ATM Switch, Banking Network, National ATM Network
• Category: ATM Switch, point_of_access, cash_withdrawal
• Description: National ATM network coordinated through Bangladesh Bank. Enables cross-bank ATM access and withdrawal services. Backbone of cash access infrastructure. 24/7 availability nationwide.
• Operator: Bangladesh Bank (coordination); participating banks (ATM operators)
• Operator Type: Central bank coordinated network
• Regulatory Oversight: Bangladesh Bank
• User Segment: All bank customers; unbanked accessing ATMs through agent networks
• Availability: 24/7
• Use Cases: Cash withdrawals, balance inquiries, fund transfers, bill payments (some ATMs)
• Settlement Type: Daily batch settlement through BEFTN/BACH
• Domestic/Cross-border: Domestic
• Status: Operational; mature infrastructure
• Launch Year: 1990s onwards
• Official URL: https://www.bb.org.bd/
• Technical Notes: Cross-bank ATM access (all banks' customers can withdraw from any bank's ATM); Visa/Mastercard acceptance; interoperable network; 24/7 operations
• Evidence Note: Standard banking infrastructure; critical for financial inclusion and cash access
• Sources: Bangladesh Bank ATM Network

• Aliases: Western Union Bangladesh, WU Bangladesh, Western Union Money Transfer
• Category: International Remittance, cross_border_transfer
• Description: Western Union international remittance service operating in Bangladesh. Enables remittance inflows from diaspora globally (Gulf countries, USA, UK, Malaysia, etc.). Cash pickup available at agent locations nationwide. Significant corridor for inbound remittances to Bangladesh.
• Operator: Western Union (global remittance network)
• Operator Type: International remittance service provider
• Regulatory Oversight: Bangladesh Bank (MTO regulation); Financial Intelligence Unit (FIU)
• User Segment: Individual migrants, diaspora members sending remittances home
• Availability: Daily at agent locations (typically 8 AM – 8 PM)
• Use Cases: Remittance transfers (inbound), family support, business payments from diaspora
• Settlement Type: Through agent network; bank settlement
• Domestic/Cross-border: Cross-border (inbound remittances into Bangladesh)
• Status: Operational; mature corridor
• Launch Year: 1990s onwards (Western Union global; Bangladesh operations from 2000s)
• Official URL: https://www.westernunion.com/
• Technical Notes: Cash-based remittance model; agent pickup; compliance with Bangladesh Bank and FIU requirements
• Evidence Note: Major remittance corridor; documented as significant inbound remittance channel
• Sources: Western Union Official, Bangladesh Bank Remittance Statistics

• Aliases: MoneyGram Bangladesh, MoneyGram Remittance, MoneyGram Money Transfer
• Category: International Remittance, cross_border_transfer
• Description: MoneyGram international remittance service operating in Bangladesh. Cash pickup at agent locations. Significant remittance corridor from diaspora.
• Operator: MoneyGram International (global remittance network)
• Operator Type: International remittance service provider
• Regulatory Oversight: Bangladesh Bank (MTO regulation); FIU
• User Segment: Individual migrants, diaspora members
• Availability: Daily at agent locations
• Use Cases: Remittance transfers (inbound), family support
• Settlement Type: Through agent network; bank settlement
• Domestic/Cross-border: Cross-border (inbound remittances)
• Status: Operational; mature corridor
• Launch Year: 2000s onwards (Bangladesh presence)
• Official URL: https://www.moneygram.com/
• Evidence Note: Major remittance corridor in Bangladesh
• Sources: MoneyGram Official

• Aliases: Wise (formerly TransferWise), Remitly, Ria Money Transfer, WorldRemit
• Category: International Remittance, cross_border_transfer, digital_remittance
• Description: Digital remittance platforms operating Bangladesh corridors. Wise focuses on low-cost international transfers. Remitly, Ria, and WorldRemit provide digital remittance services with competitive rates. Growing volume of digital remittances particularly from diaspora in USA, UK, Gulf countries.
• Operator: Wise, Remitly, Ria Money Transfer, WorldRemit (global digital remittance providers)
• Operator Type: Digital remittance service providers
• Regulatory Oversight: Bangladesh Bank (MTO regulation); FIU
• User Segment: Individual migrants, diaspora members
• Availability: 24/7 online/app platforms
• Use Cases: Digital remittance transfers, family support, business payments
• Settlement Type: Direct bank account or mobile wallet deposit
• Domestic/Cross-border: Cross-border (inbound remittances into Bangladesh)
• Status: Operational; rapidly growing segment (2020s onwards)
• Launch Year: 2010s onwards (Bangladesh expansion)
• Official URLs:
• https://wise.com/
• https://www.remitly.com/
• https://www.riamoneytransfer.com/
• https://www.worldremit.com/
• Technical Notes: Digital-first model; competitive FX rates; mobile-first interface; integration with local banks and MFS providers (Wise/Remitly now offer bKash/Nagad deposit options)
• Evidence Note: Rapidly growing remittance segment; documented integration with Bangladesh MFS ecosystem; competitive pricing
• Sources: Wise Official, Remitly Official, Ria Official, WorldRemit Official

• Aliases: SWIFT, Society for Worldwide Interbank Financial Telecommunication
• Category: International Settlement Network, interbank_communication
• Description: SWIFT network enables Bangladesh's licensed banks to participate in international payment settlement and correspondent banking. Essential infrastructure for cross-border payments, trade finance, and foreign exchange transactions. All major Bangladesh banks maintain SWIFT codes for international settlement.
• Operator: SWIFT (international financial messaging network)
• Operator Type: International bank communication and settlement network
• Regulatory Oversight: Bangladesh Bank (oversight); SWIFT governance (international)
• User Segment: All licensed Bangladesh banks
• Availability: 24/7/365
• Use Cases: International fund transfers, trade finance settlement, correspondent banking, foreign exchange transactions, cross-border payments
• Settlement Type: Through correspondent bank network; net settlement daily
• Domestic/Cross-border: Cross-border
• Status: Operational; essential infrastructure
• Launch Year: 1973 (global); Bangladesh participation from 1980s onwards
• Official URL: https://www.swift.com/
• Technical Notes: Bank identifier codes (BIC/SWIFT codes); MT messaging standards; security procedures; correspondent banking relationships
• Evidence Note: Essential international payment infrastructure; all major Bangladesh banks participants
• Sources: SWIFT Official, Bangladesh Bank

• Aliases: Bangladesh Post, Postal Services, PostOffice
• Category: Postal Payment Services, government_payments
• Description: Bangladesh Post Office provides postal money order services for domestic transfers. Traditional mail-based transfer system. Integrated with Nagad MFS for digital expansion. Nationwide postal branch network (10,000+) enables cash-in/cash-out services.
• Operator: Bangladesh Post Office (government postal service)
• Operator Type: Government postal service
• Regulatory Oversight: Bangladesh Bank (financial services); Ministry of Posts, Telecommunications & Information Technology
• User Segment: Individual customers; government agencies; remittance users in rural areas
• Availability: Postal branch hours (typically 9 AM – 5 PM); Nagad integration enables 24/7 digital access
• Use Cases: Domestic money transfers, government benefit disbursement, bill payments (through Nagad integration)
• Settlement Type: Through postal network; Nagad digital settlement
• Domestic/Cross-border: Domestic
• Status: Operational; traditional postal money order service; Nagad digital expansion
• Launch Year: Postal service historical; Nagad integration 2019 onwards
• Official URL: https://www.bangladeshpost.gov.bd/
• Technical Notes: Postal branch network; money order infrastructure; integration with Nagad MFS for digital expansion
• Evidence Note: Government postal infrastructure; significant rural financial inclusion role
• Sources: Bangladesh Post Office Official

• Aliases: Indo-Bangladesh Payment Corridor, India Settlement
• Category: Cross-border Payment Corridor, regional_integration
• Description: Cross-border payment corridor between Bangladesh and India under development. Significant trade volume between countries creates demand for efficient payment channels. Bangladesh Bank and Reserve Bank of India (RBI) exploring bilateral payment corridor using local currency (BDT-INR) to reduce USD dependency and transaction costs. NPSB expansion to India-Bangladesh corridor considered a priority.
• Operator: Bangladesh Bank (BD side); Reserve Bank of India (India side)
• Operator Type: Central banks; bilateral corridor
• Regulatory Oversight: Bangladesh Bank, Reserve Bank of India
• User Segment: Cross-border businesses, traders, exporters/importers
• Availability: TBD; development stage
• Use Cases: Trade settlements, cross-border business payments
• Settlement Type: Through central bank coordination (TBD)
• Domestic/Cross-border: Cross-border (Bangladesh-India)
• Status: In development; not yet operational for retail; bilateral discussions ongoing
• Launch Year: Discussions 2024-2025; timeline TBD
• Official URL: https://www.bb.org.bd/, https://www.rbi.org.in/
• Technical Notes: Local currency settlement (BDT-INR); reducing USD intermediation; bilateral clearing
• Evidence Note: Strategic priority for Bangladesh-India economic integration; documented in bilateral meetings
• Sources: Bangladesh Bank Bilateral Initiatives