Progoti Systems earlier had the central bank license to work as a payment system operator (PSO). It had provided technical services for mobile financial services (MFS) of four banks, including Rupali Bank’s SureCash. The company wanted to change its structure of service from PSO to PSP and applied to the central bank for a license, said a high official of the bank.
The Bangladesh Bank then canceled its PSO license and awarded the PSP license, he added. “We will come on the market as soon as possible, but the date of commercial launch has not been fixed yet,” said Muhammad Awlad Hossain, head of growth and marketing of the company. “We believe Nobopay will make a strong position in the e-wallet market,” he said. He also said Nobopay’s vision was to play a role in building a cashless society in Bangladesh like the developed countries.
NoboPay users will be able to send money from one Nobopay wallet to another, send to and receive money in Nobopay wallet from friends and families, transfer balance, pay bills of various utility service providers, and add money from banks and cards, its website said. The website also said sending money, cash-out, and bill pay services are free of cost.