‘Nagad’ launch ‘Add Money’ service with VISA and Mastercard

Bangladesh Postal Department’s digital financial service Nagad on Friday launched a new feature for Nagad’s mobile app that enables users to instantly add money into their ‘Nagad’ wallets.
After the service launching ‘Nagad’ users already started adding money from all kinds of their Visa and Mastercard cards like credit, debit and prepaid cards which also ensure users convenience and minimizes their risk of health issues under the Covid-19 pandemic.
Posts and Telecommunication Minister Mustafa Jabbar in a webinar has launched the service.
With this service ‘Nagad’ app users who is holding Visa and Mastercard can now add money to their ‘Nagad’ accounts very smoothly and conveniently. To complete seamless transactions any time of the day, ‘Nagad’ users need to click the ‘Add Money’ button on the ‘Nagad’ app interface and select the ‘Card to Nagad’ option and chose either Visa or Mastercard card. Users must then incorporate the account (mobile) number and provide the required card details and enter the amount they wish to transfer from the card to ‘Nagad’ account. Users will receive an OTP (One Time Password) on their registered mobile phone number. By entering the OTP, users will be able to complete the transaction.
Customers will be able to save one or more Visa and Mastercard information in the ‘Nagad’ app if they want to avail the same service again.
This service will make it easy and convenient for the ‘Nagad’ users to top up their ‘Nagad’ wallets who are holding Visa or Mastercard card and can make contactless transactions possible like send money, pay utility bills and tuition fees, mobile top-up, pay merchants and different outlets which also helps to make citizens live more digital, a vision of the government.
While inaugurating the service Posts and Telecommunication Minister Mustafa Jabbar said, “In the last 15 months, Nagad has set an example in various aspects of mobile financial services in the country. Technology has played a big role in this. The integration of Visa and Mastercard with Nagad will further enhance the quality of their services. New service like add money will save customers time and make them hassle free of cash-in money into their own accounts. I believe that Nagad is establishing itself as a role model to the world in terms of financial inclusion.”
Thanking the ‘Nagad’ management for bringing new service for their users State Minister for Primary and Mass Education Md. Zakir Hossain said this is a sign of Digital Bangladesh and hope more service will onboard that will enhance the citizens’ digital life.
Regarding the partnership of the world’s two most popular card with ‘Nagad’, Mezbaul Haque, General Manager of Payment Systems Division at Bangladesh Bank, said, “Bangladesh Bank will welcome any innovation and digital initiative that ensure customers convenience and in compliance with the safety and all types of laws and policies. Now two cards have been added to Nagad, I hope others will be added in the coming days.”
In his speech, Tanvir A Mishuk Managing Director, ‘Nagad’ said, “I can proudly say that the work took eight to nine years for others we Nagad made it only in just one year and four months. This has been made possible as we have giving priority to meet the demands and needs of the people. As a result of our exemplary work, every person in the country is benefiting, which, above all, I believe will play an important role in the vision of Digital Bangladesh.”
Soumya Basu, Business Development Senior Director (South Asia) of Visa and Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh also spoke at the occasion while Sudhangshu Shekhar Bhadra, Director General of Postal Directorate Bangladesh Post Office gave vote of thanks.
They said currently about 10 million Visa and Mastercard cards holders in Bangladesh and all that can be used to add money on ‘Nagad’ account and the card holders also can add money for other accounts as well.