Sheba Platform gets Bangladesh Bank’s License for payment services to empower MSMEs

Sheba Platform has always been well known for the largest service marketplace in Bangladesh,, with more than 80+ services and a trusted name for more than 500,000 families. However, Sheba has been building an ecosystem of 3 distinct yet interconnected digital platforms-, sBusiness. Whereas serves millions of consumers, sBusiness caters to the needs of corporate houses. With these two, sManager remains as the core as empowering the lives of millions of MSMEs as a full stack merchant platform.

Operating with the aim to create social impact, Sheba Platform has progressed one step closer towards digitizing the merchant economy through the recent receiving of No Objection Certificate (NOC) from the Bangladesh Bank for PSP (Payment Service Provider) license. Sheba will now be able to open the horizon of digital payment services through ‘Shebapay’.

In Bangladesh, small and medium enterprises contribute 25% to total GDP. Despite the fact that the MSMEs are the backbone of the economy, our economic infrastructure has been developed around the large institutes. Hence the true potentiality of the segment has remained untapped and unutilized. MSMEs have fallen behind in lesser access to knowledge, resources, financial support, even proper business acumen.

Sheba introduced sManager in October 2019 In order to bring the MSMEs in the country within the scope of Digital & financial inclusivity. Through sManager, 1.5 Million MSME has already been brought within the scope of Digital inclusivity in two years. The SAAS based mobile Super app, only one of its kind in entire Asia, enables SMEs with digital solutions including Order Management, Sales Management, Inventory Management, Cash Flow Management, Accounts Management, Channel Management, Mobile Recharge & Payments for MSMEs.

Despite having Highest GDP per Capita in South East Asia, Highest MFS wallet Users in Asia and being the 7th Highest Internet users, among 8 million of MSME in Bangladesh, only 2.5% are digitized for payment.

sManager, in line to be aided with ‘shebapay’, will play an instrumental part in bringing the revolution in the merchant economy. The NOC for PSP is a doorway for Sheba Platform Limited to bring MSMEs of Bangladesh within the scope of financial inclusivity.

Through sManager, merchants will now get full-fledged payment services. MSMEs will now be able to collect their dues and payments at ease, manage their cash flows better, bring efficiency and drive for growth. Access to financial services will be within the grasp, enabling business enhancement and extension. With inclusion of sManager in their business infrastructure, MSME will be able to ensure smooth customer experience, resulting in further benefits, business, growth and elevation of living standard.

Mohammad Ilmul Haque Sajib, Chief Operating Officer of Sheba PLatform Limited received the NOC document from Ms. Rafeza Akhter Kanta, DGM, Payment Systems Department, Bangladesh Bank on April 25, 2022.

“This is indeed a huge milestone for Sheba. We have full intention and backend capability to utilize the PSP facility for creating meaningful impact in lives of our merchants, stakeholders and countrymen- the dream we strive to achieve at Sheba,” said Mr. Sajib upon receiving the NOC document.

Md. Mezbaul Haque, General Manager of Payment Systems Department, Bangladesh Bank, Abu Naser Md. Shoaeb, Chief Technology Officer of Sheba Platform Limited, and Mohammad Anwar Hossain, Advisor of Sheba Fintech Limited were also present along with other officials from the Bangladesh Bank and Sheba Platform Limited respectively.