UPay, iPay or Pathao Pay? The Race to Another Cashless Society Continues


UPay, iPay or Pathao Pay- which one to use? 

Even though I haven’t used any of the above “pay’s”, but I have observed a significant growth in their usage rate in Dhaka these days.

Considering the rapid proliferation of fintech in Singapore, I am seeing a lot of potential in Bangladesh as well. Singapore today is considered a central hub facilitating global trade while dealing with foreign currencies.

And the nation continues to thrive at a lot faster pace towards becoming cashless.


UPay launched by United Commercial Bank LTD is based on blockchain and QR technologies.

The UPay app is offering a wide variety of solutions starting from paying utility charges to paying for online shopping.

iPay, on the other hand, is providing e-wallet service that lets you send or receive payment at the same time.
Most importantly, it lets you deposit or withdraw money, regardless of a bank account.

UPay, iPay or Pathao Pay?

In addition to all the benefits of UPay and iPay, Pathao Pay allows you to pay for the rides you take.
Riders are actually accepting this mode of payment in case you are running short on paper cash.

There have been countless incidents when I had to look for “bhang-ti” (change) after completing a ride.

Paying unusual figures, such as Tk 138 or even Tk 437 isn’t going to be a problem now with Pathao Pay.
The right utility can surge the demand curve of any digital currency over a short time period. 


Read more about Pathao VS Obhai, whichever is right for you.

Despite so many promising conveniences, there are limitations involved as well.

  • In the case of UPay, one must open a personal/current account at UCB before the person is allowed to send or receive money using their so-called “blockchain technology.”
  • Secondly, iPay requires a NID card/Passport, TIN as well as a trade license before a seller can request payment from their customer.

Existing limitations in technology:

However, in the case of Pathao Pay, there are no restrictions/limitations involved in the process. All you will need to do is simply sign up, just like how you did as a passenger or a rider.

To be honest, I haven’t heard anything unique or distinct about each of these apps mentioned here. They all have similar functionalities while promising maximum security for your transactions.

Yet I am still a skeptic about the security of my money.

These companies are still going to need at least five years to reach their maturity level for the technology they are trying to sell.
With increasing demand for each of these mobile wallets, the chances of your PIN getting compromised becomes inevitable.

So, where does bKash stand in the midst of all these emerging mobile wallets?

upay-ipay-pathao-walton-forgeportalIn the midst of these emerging fintech, bKash turned out to be the biggest disappointment. Partly due to its reluctance to adopt advanced tech, and it still couldn’t develop a solid API for WordPress.

Having more than 25M businesses based on WordPress, an authentic API has enough potential to quadruple any digital wallet’s revenue scale.

Or perhaps, bKash and Walton should merge to create a new smartphone that has a mobile wallet by default.

Nonetheless, I am still waiting to find out more about UPay, iPay and Pathao Pay. The race is on, and only time will indicate the true winner of the race to the cashless society.