Bangladesh Bank (BB) has warned the public against conducting transactions through 22 online payment platforms operating without approval from the central bank.

In a Facebook post on Sunday, BB said operating a payment system or providing payment services without a licence from the central bank is prohibited under the Payment and Settlement Systems Act, 2024.

Under Section 4(2) of the Act, no person, institution or company can operate a payment system or provide payment services without obtaining a licence from Bangladesh Bank. Violation of the provision constitutes a punishable offence under Section 37(1) of the Act.

The central bank advised individuals, businesses and financial institutions to refrain from conducting transactions through the unauthorised platforms.

The entities identified by Bangladesh Bank are Bahudur Pay, Jini Pay, Petilar, Bengali Pay, Peroa BD, Shohoj Pay BD, Easy Pay Way, AK Pay, BD Pay, Shajghar Pay, Astha Pay/C Pay, Uddyokta Pay, Wallet Mix, BTT Pay, Easy Pay Automation, Unique Pay BD, BD Auto Pay, RH Pay BD, Easy Pay, Auto Pay Limited, Biswasto and Pipra Pay.

The central bank cautioned that transactions through unauthorised payment service providers may expose users and businesses to financial and regulatory risks.

Bangladesh Bank said it would continue monitoring the digital payment sector and take necessary measures against entities providing payment services without the required authorisation.