About
Upay is a Bangladeshi mobile financial service (MFS) wallet run by UCB Fintech Company Limited, a wholly owned subsidiary of United Commercial Bank formed in 2020 and licensed by Bangladesh Bank; it launched in 2021, replacing UCB's earlier Ucash service. Customers use the upay app to send money, pay by QR code, recharge airtime, pay utility bills and pay online, backed by a network of retail agents. It competes with the larger MFS providers bKash, Nagad and Rocket. At the end of 2023 Upay reported about 8.5 million registered customers, around 154,000 agents and 14,519 merchants.
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