The government is moving ahead with plans to transform Ekpay, the country's integrated digital payment platform, into a standalone state-owned public limited company named Ekpay PLC as part of efforts to strengthen Bangladesh's digital payment ecosystem, officials said.
The Information and Communication Technology (ICT) Division has initiated the process of establishing the company, following a decision taken at an inter-ministerial meeting.
The company will facilitate seamless transaction clearing and settlement across multiple platforms, improve merchant onboarding and operate White Label ATMs, QR scanners and Point of Sale (POS) terminals nationwide.
Ekpay PLC is also expected to support a wide range of digital payment transactions, including Government-to-People (G2P), Government-to-Government (G2G), Business-to-Business (B2B) and People-to-Government (P2G) payments.
Officials said government agencies, financial institutions, utility service providers and private-sector organisations will be able to connect to the platform through advanced application programming interfaces (APIs), enabling users to pay utility bills, government fees and other charges through a single digital gateway.
According to the draft Memorandum of Association, the headquarters of Ekpay PLC will be located at the ICT Tower in the capital's Agargaon.
The company will seek a licence from Bangladesh Bank and is expected to operate both as a Payment System Operator (PSO) and a Payment Service Provider (PSP).
The proposed authorised capital of the company has been set at Tk 200 million, divided into 20 million ordinary shares with a face value of Tk 10 each.
The initiative is being driven by the Aspire to Innovate (a2i) programme under the ICT Division.
Under the proposed ownership structure, a2i will hold 99.99 per cent of the company's shares, while the remaining 0.01 per cent will be distributed among relevant government ministries and agencies.
Minutes of a high-level meeting chaired by ICT Division Secretary Shish Haider Chowdhury show that key decisions have already been taken regarding administrative preparations, finalisation of the organisational structure and submission of applications to the Registrar of Joint Stock Companies and Firms (RJSC).
The Legislative and Parliamentary Affairs Division has completed legal vetting of the company's Memorandum and Articles of Association.
According to an official communication from the Ministry of Finance dated April 8, 2026, the Ministry of Public Administration and the Financial Institutions Division (FID) have been consulted to ensure institutional compliance before granting final approval.
The ICT Division has also sought final observations from the Financial Institutions Division to expedite the incorporation process.
Once operational, Ekpay PLC will function as an independent corporate entity and provide technology-driven payment solutions through advanced API integration.
The platform is expected to allow financial institutions, merchants and service providers to connect seamlessly, enabling citizens to make payments securely and conveniently through a unified digital channel.
Officials said the move is intended to strengthen the country's digital payment infrastructure and support the government's broader digital transformation agenda.
Although Ekpay PLC is not being designed as a mobile financial service provider like bKash, Nagad or Rocket, its planned role as both a payment operator and service provider could position it as a key player in Bangladesh's rapidly expanding digital payments sector.
When contacted, officials of both the ICT Division and the Financial Institutions Division said the proposal remains under review.
"Work is ongoing and the matter is being scrutinised," an official said.
rezamumu@gmail.com