Bangladesh's First ever iPay launched to build cashless society

iPay will help in building a cashless society in the country that ultimately ensures financial transparency.

Bangladeshs first ever local online complete payment ecosystem iPay has started its commercial journey with a motto of building a cashless society.

A press release mentioned Finance Minister Abul Maal Abdul Muhith formally inaugurated the iPay at a function in the capital.

The other guest that was present at the inauguration was Posts, Mustafa Jabbar, Posts, Telecommunications and Information Technology Minister, Prime Ministers Media Advisor Iqbal Sobhan Chowdhury and State Minister for ICT Zunaid Ahmed Palak.

Muhith, in his speech was hoping that iPay will help in building a cashless society in the country that ultimately ensures financial transparency.

iPay Systems Founder and Chief Executive Officer (CEO) Zakaria Swapan gave the welcome speech and Chairman Shahidul Ahsan and high officials of Bangladesh Bank, among others, were present in the ceremony.

Swapan said, iPay (Terming iPay as Paypal) of Bangladesh, is here to build a cashless secure payment ecosystem in Bangladesh for individuals and businesses with a commitment to develop a payment platform to exchange money with state of the art technology.

He added, It will make monetary transactions transparent, as all transactions are recorded that are visible to both entities to validate. It will also reduce illegal activities like money laundering, funding extremists, as iPay does not allow physical cash transactions and all transactions done against verified account or withdraw money through the persons bank account.

The iPay Systems Limited are licensed by Bangladesh Bank as payment service provider (PSP).They are secure and complete payment ecosystem which transacts money from mobile phones or computers through internet.

The iPay is the first ever online payment platform in Bangladesh as it provides real cashless Fin-Tech experience that enables anyone to make payments for purchases and utilities.

One can exchange money with other iPay members also. iPay is connected with all commercial banks in Bangladesh, so any bank account can be added to the wallet to add or withdraw money.

This app is exclusively for Bangladesh residents, they can download the App from both Apple and Google Play store or they can visit iPay.com.bd and sign up.