Upay, the mobile financial service (MFS) of UCB Fintech Company Limited, a subsidiary of United Commercial Bank PLC (UCB) and Daffodil Group have signed a strategic Memorandum of Understanding (MoU) to expand digital payment acceptance and promote seamless cashless transactions across the Daffodil Group ecosystem, a press release said.

The MoU was signed recently at the UCB Headquarters in Dhaka, marking a significant milestone in the shared commitment of both organizations to accelerate digital transformation and enhance financial inclusion in Bangladesh.

Under the partnership, upay’s secure and innovative mobile financial services will be integrated into Daffodil Group’s extensive education and corporate ecosystem. The collaboration will enable students, employees, and other stakeholders to make fast, secure, and convenient digital payments for a wide range of services, fostering greater adoption of cashless transactions.

The signing ceremony was attended by senior officials from both organizations. Representing Daffodil Group were Ms. Samiha Khan, Director, Owner & BOT Member, along with other senior officials. Representing upay were Mr. Shyamol B. Das, Managing Director & CEO, and senior members of the leadership team.

Speaking on the occasion, representatives from both organizations expressed confidence that the partnership will contribute significantly to building a more inclusive and digitally connected financial ecosystem. Through this strategic alliance, upay and Daffodil Group reaffirm their commitment to driving innovation, strengthening digital payment infrastructure, and empowering individuals and institutions with seamless financial solutions.