upay inks deal with Zaytoon to boost nationwide digital inclusion

Business Report :

upay, a leading mobile financial service (MFS) provider in Bangladesh, has achieved a landmark milestone by becoming the first MFS to collaborate with Zaytoon Business Solutions.
This strategic partnership is set to revolutionise digital financial accessibility, particularly in underserved rural areas nationwide.
The collaboration will leverage Zaytoon’s extensive network of Village Digital Booths (VDBs) as authorised upay digital agents. These VDBs will facilitate various financial transactions and services, including mobile banking, bill payments, remittance services, and digital lending, bringing essential financial solutions to rural communities’ doorsteps. The initiative will initially launch in Rajshahi, Chapai Nawabganj, Munshiganj, Sirajganj, and Chittagong, with a comprehensive nationwide expansion planned.
Mr Mamdudur Rashid, Managing Director & CEO of United Commercial Bank PLC, emphasised the importance of digital expansion in financial services, saying, “As a progressive financial institution, UCB is dedicated to supporting initiatives that foster financial inclusion. The partnership between Upay and Zaytoon Business Solutions is a crucial step toward extending banking services to the underserved population, reinforcing our commitment to a more inclusive digital economy.”
“At Upay, we are committed to driving financial inclusion by making digital transactions more accessible, even in the most remote areas,” stated Mr Md Abdullah Al Mamoon, Member of the Board of Directors of UCB Fintech Company Ltd. – pay. “This partnership with Zaytoon Business Solutions will empower millions with the convenience of secure and efficient digital financial services.”
“Our mission is to enhance financial accessibility in underserved regions,” highlighted Mr. Md. Arfan Ali, Chairman of Zaytoon Business Solutions. “Partnering with Upay allows us to bring a trusted and innovative MFS provider to communities that need it the most.”
Key figures from both organisations attended the official signing ceremony, including Akber Hossain, Managing Director of Zaytoon Business Solutions; Md Khademul Islam, Head of Business, Zaytoon Business Solutions; Zeeshan Kingshuk Huq, Chief Communications Officer, UCB PLC; Md Mahbub Sobhan, Chief Business Officer-Upay; Sajjad Alam, Head of Corporate Sales-Upay, and other senior officials.
This partnership underscores upay’s unwavering dedication to expanding digital financial services throughout Bangladesh, promoting economic empowerment, and propelling the nation towards a more inclusive digital economy.