BB cancels Walletmix’s licence for illegal transactions

Bangladesh Bank has cancelled the licence of the payment gateway company Walletmix Limited for engaging in illegal transactions.

The Payment Systems Department of Bangladesh Bank on Monday (November 20) issued an instruction regarding the cancellation.

The Bangladesh Bank Executive Director and spokesperson Mezbaul Haque said that Walletmix had made illegal transactions that were not authorised, and because of this their licence has been cancelled.

As a result, from now on, no institution, including banks and financial institutions, will be able to transact with Walletmix.

The central bank has sent the licence cancellation directive to the managing directors and chief executives of all scheduled banks, mobile financial services providers, payment system operators, and payment service providers in the country.

The payment system operator licence of Walletmix has been cancelled to protect customer interests under the authority of Bangladesh Payment Systems Regulations and in accordance with the terms of the licence granted to Walletmix Limited, said a Bangladesh Bank notification.