DataSoft and Fyne Tech together launched the first payment app “Pay 365”

Bangladesh’s Leading Software Company DataSoft Systems Bangladesh limited and Startup Company Fyne Tech Limited together has launched the first payment app named “Pay 365” for smartphone devices with Dutch Bangla Bank Limited working as acquiring bank. Yesterday 11, August Junaid Ahmed Palak, State Minister for ICT, inaugurated the newly-launched app at a function at a hotel in the Capital. Basis Chairman Mostafa Zabbar, Chairman of DBBL Mr. Sayem Ahmed, Managing Director of DataSoft Mahboob Zaman, Director and COO of DataSoft M. Manjur Mahmud, MD of Fyne Tech ltd Mohaimin Mostafa, and Director of DataSoft Dil Afroz Begum also present there.

Dutch Bangla Bank will be working as Acquiring bank with DataSoft and DataSoft will be working as Merchant service provider or as Payment Aggregator. With Pay 365 DBBL will have the First mover advantage in smartphone payment.

The purpose of this mobile application is to facilitate smartphone users to make payments at any retail outlet with their smartphone. Debit card and credit holders simply can enter their bank card number once during Sign up and do not have to carry their cards at all.

User of this app will generate a QR code from the app and scan their phone at Pay 365’s merchant’s outlet. Not only cards DBBL has also taken the initiative to integrate DBBL’s mobile banking with Pay 365.

But for security reason the secret pin number should be used during every transaction time. He also said that all the information are encrypted and securely saved by Dutch Bangla Bank.

Initially we are in talks with few merchants and e-commerce such as Meena Bazaar, Agora, Crimson Cup, Tabaq, Kobe, Tokyo Express, Hungry Naki , bagdoom and many more.

The app will help smartphone users make payments at any retail outlet with their smartphones, said Zunaid Ahmed Palak, state minister for ICT, after launching the application at a programme at Sonargaon Hotel in Dhaka.