The newly received license allows Payza to enable a portion of the more than USD 14 billion in remittances that enter the country annually based on Bangladesh Banks projected total for 2012.
Earlier in 2012, Payza has become the first online payment processor to be licensed by Bangladesh Bank to provide Bangladeshis with a way to receive international bank transfers. By partnering with Bank Asia, Payza was also able to use the Bangladesh Bank-organized Bangladesh Electronic Funds Transfer Network (BEFTN) to enable the IT freelance sector to work for global organizations and receive international payments directly to their local Bangladeshi bank accounts.
Payza is a payment platform for e-commerce, corporate disbursements and remittances, which will enable worldwide international payment transfers for individuals and businesses.
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