UCB unveils card-less digital pay platform ‘Upay’

Published: October 17, 2017 21:24:29 | Updated: October 24, 2017 21:45:14


AE Abdul Muhaimen, Managing Director & CEO of United Commercial Bank, along with other senior officials of UCB seen at the launching of Upay.

United Commercial Bank (UCB) Limited has launched its state-of-the-art digital banking platform ‘Upay’ for both consumers and corporate customers.

According to a statement, the launching ceremony was held on Tuesday at Westin, Dhaka. Upay aims to promote cashless and universal i.e. anytime-anywhere payments using mobile phones in the country.

Managing Director and CEO of UCB AE Abdul Muhaimen announced the official launching of the cashless and card-less digital pay platform.

Upay for the first time in the country will be using the most advanced and reliable technologies like Blockchain and Quick Response (QR) Code to secure all financial transactions.

Blockchain provides indelible and transparent record of all transactions while QR Code, as the name implies, is a fast and easy way to make payments.

The statement said Upay customers will not be required to carry cash to make payments. Using smart mobile phone as a digital wallet or personal computer connected to the internet, Upay customers will have the convenience of accessing any of their UCB accounts and perform all banking transactions.

Upay will cater to all consumers, corporate and government payments like merchant shopping, bill payment, fund transfer, loan repayment, inward remittance, insurance premium, salary disbursement, e-commerce etc.

Besides, purchase of digital cheque for gifts, redemption of voucher and reward points, balance inquiry, mini statement etc. can also be performed.

Among others, members of UCB’s senior management were present.

UCB is one of the largest private commercial banks of the country and has been providing best financial services with modern technology and brilliance since its inception in 1983.

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