Payza Gains License for Online Remittances to Bangladesh

Nov. 27, 2012

A New York City-based online payment gateway provider yesterday said it has received the first license for remittances entering Bangladesh via online payment gateways. Payza said the official go-ahead from Bangladesh’s central bank will enable it to “facilitate a significant portion” of the $14 billion in online remittances that enter the country each year.

“The steps we have followed to enter Bangladesh, a country previously overlooked by our industry, are laying the groundwork for how Payza will be systematically and systemically bringing online financial services to other developing and underserved regions,” said Firoz Patel, executive vice president of strategic partnerships and corporate affairs at Payza. “Opening the world up to a new market is a viable and profitable corporate mandate. Facilitating an emerging market’s entry into the global economy is not just good business, it’s a great manifestation of corporate citizenship.”