Upay was launched in March 2021 as a digital financial service brand of UCB FinTech Company Limited. Operated under the authority of United Commercial Bank, Upay strives to provide easy and convenient digital financial solutions and make itself available to people from all walks of life. Its core services include bill payment, shopping, mobile transactions, remittance and salary disbursement, airtime recharge, and so forth. Although Upay has been in the industry for just over a year, it integrated itself into many other services by building a network of allies. The dialing code of this service is *268#.

Through Upay, Prime Minister Sheikh Hasina sent cash gifts to 2,500 women on Bangamata’s birthday in August 2022. The MFS provider also signed an agreement with Pran-RFL Group and Fashol Dotcom to disburse salaries and other allowances. On February 2022, it signed another contract with Pathao Courier to provide cash collection solutions. For its innovative multi-wallet feature, Upay also received the “FinTech Innovation of the Year” award from the Bangladesh Brand Forum in November 2021. The dialing code of this service is *268#.