Palmpay, a global financial technology company that provides digital payment and lending services in developing economies, has been given the green light by Bangladesh Bank to initiate a one-year trial program to finance the acquisition of 10,000 smartphones.
According to a press release on January 29, the approval granted to Palmpay Bangladesh Limited will enable the company to enhance smartphone accessibility through a monitored approach. Palmpay hailed the authorization as a groundbreaking move in the country’s regulatory landscape.
Having launched its operations in Bangladesh in 2024, Palmpay initially collaborated with mobile operators and financial institutions, offering installment options for smartphone purchases without the need for cards. The company expressed its enthusiasm over the new approval, highlighting its potential to broaden the range of products and services geared towards fostering financial inclusivity. The central bank emphasized that the pilot program aims to provide economically feasible smartphone access to individuals with modest incomes and those venturing into smartphone usage for the first time.
The endorsement arrives amidst the ongoing growth of Bangladesh’s mobile sector, with statistics indicating approximately 187 million mobile subscribers by November 2025. Additional reports suggest that the country had around 131 million internet users towards the end of 2025, with a significant portion relying on mobile connections for internet access.
Palmpay’s operations span various emerging markets, encompassing regions in Africa and South Asia. The company’s recognition among CNBC and Statista’s top 300 fintech firms for 2025 underscores its industry prominence. As of now, Palmpay has not disclosed specific details regarding the financing conditions associated with the new pilot initiative in Bangladesh, such as eligibility requirements, repayment terms, pricing structures, or potential fees.
