BB warns against 22 unlicensed online payment platforms

Bangladesh Bank has identified 22 unlicensed entities allegedly involved in illegal money transactions and warned people against conducting transactions through them.

The central bank issued the warning in a notice posted on its Facebook page on Sunday, advising people to refrain from conducting any activities or transactions through the unlicensed platforms.

“Stay aware, stay safe,” the central bank said.

The entities identified by Bangladesh Bank are Bahudur Pay, Jini Pay, Petilar, Bengali Pay, Peroa BD, Shohoj Pay BD, Easy Pay Way, AK Pay, BD Pay, Shajghar Pay, Astha Pay/C Pay, Uddyokta Pay, Wallet Mix, BTT Pay, Easy Pay Automation, Unique Pay BD, BD Auto Pay, RH Pay BD, Easy Pay, Auto Pay Limited, Biswasto and Pipra Pay.

According to the notice, the entities are providing payment aggregator services without obtaining the required licences.

Bangladesh Bank said providing payment services through any person, institution or company without approval from the central bank is completely illegal and a punishable offence under the Payment and Settlement Systems Act, 2024.

The central bank urged people to remain cautious and avoid engaging with such unlicensed platforms.

Source: The Business Standard