Mobile financial services (MFS) provider upay announced the appointment of Rezaul Hossain as its managing director and chief executive officer Sunday.

Rezaul worked for local and multinational companies including, Grameenphone, Citycell, Airtel and bKash.

Before joining upay, he was involved with several enterprises, including MFS provider Nagad.

Also, Rezaul led the commercial division of bKash from 2011 to 2017 as the chief commercial officer.

Read: No data charge for e-transactions on Upay app for Banglalink customers

Anisuzzaman Chowdhury, chairman of the board of directors of UCB Fintech Company, said: "Rezaul Hossain is a highly accomplished business leader and brings a wealth of skills and experience that will take us to our strategic goal of becoming one of the leading mobile financial service companies in Bangladesh."

"His exceptional telecommunications and MFS background along with a record of building and scaling up business from scratch to success will surely create a strong foothold for upay in the country's digital finance landscape."

Rezaul said: "Despite being a new financial service brand, I believe, upay has a huge potential to disrupt the market. As I have a long vision for the advancement of the country's financial technology sector, I would like to dedicate my experience, expertise and industry knowledge to help upay grow and reach its full potential through bringing delightful experiences to our customers."

UCB Fintech Company, a subsidiary of United Commercial Bank, has been offering mobile financial services under the brand name upay.

Upay launched its commercial operation in March 2021 after securing its MFS licence from the Bangladesh Bank in December 2020.