Dhaka, Dec. 11 -- Banglalink has received the "No Objection Certificate" from Bangladesh Bank on Wednesday to commence operations as a Payment Service Provider or PSP, the company said in a statement.

Banglalink can now officially operate as a PSP, allowing it to offer digital payment services, but not hold customer deposits like a bank or MFS, such as bKash, Nagad.

The telecom operator will now be able to act as a payment processor, enabling money transfers, merchant payments, utility/government payments and salary disbursements, etc.

Industry insiders say now Banglalink will be in direct competition with bKash, Nagad, Rocket and Internet banking apps.

Banglalink, a company fully owned by VEON, a global digital operator, considers th...