A stress free, digital lifestyle with NAGAD | The Daily Star
12:00 AM, November 24, 2020 / LAST MODIFIED: 12:00 AM, November 24, 2020

A stress free, digital lifestyle with NAGAD

Sharmin Sultana, a stay-at-home mother of three including a teenager, found herself frequently overwhelmed, having to look after the house while meeting the demands of her child. She was distressed with the constant juggling between essentials, causing her to suffer from bouts of anxiety and resentments.

This is when a friend suggested Sultana to open a Nagad account, which she claimed would make life stress-free, and Sultana never regrets a moment after that fateful rendezvous with her friend.

"It's as if I had the time to breathe again, because most of my duties were taken care of. No longer did I need to go to the bank to pay my children's tuition fees. It was all 'managed' by Nagad Wallet!

"Even our weekly groceries were directly delivered to my house thanks to Nagad's affiliation with numerous home delivery services; all I had to do was select everything online by the simple click of a button and that too, while running errands at home, the payments were also made via Nagad. My life had become so much easier. Even my children claim that I have become a better mum today after Nagad came into my life," revealed a beaming Sultana.  

About Nagad

After beginning operations on 26 March 2019, Nagad, the fastest growing digital financial platform in Bangladesh, has been successful in progressing thousands of 'citizen lives' to the more efficient digital lifestyle.

Using Nagad's platform, users are able to meet their daily payment needs round the clock — for buying groceries from online and retail shops; paying bills for any e-shopping, depositing insurance premiums, to paying the internet's bills, utility bills, and much more.

To ensure these facilities, Nagad, the second largest digital financial service provider in the country, already partnered with more than 12 thousand merchants like Meena Bazar, Unimart, Pran-RFL, Walton Plaza, Transcom Electronics, Best Electronics, Bay Emporium, Wholesale Club by Jamuna Group, etc. All these corporate giants and FMCG moguls have online channels where Nagad is used as an essential disbursement partner.

Nagad has also set up affiliations with 500 online shopping platforms, all for the convenience of the avid shopper. The aforementioned mobile financial service provider is also quite popular in the F-Commerce industry of Bangladesh for its seamless financial transaction services.

Unique Services

While all of the above may be quite routine for companies in a similar field, Nagad has kept itself distinctive with unique one-of-a-kind services that significantly benefit its clients.

The company has partnered with e-commerce delivery companies, whereby customers like Sultana can enjoy the cash-on delivery 'feel,' as she uses the digital platform to settle payments. Paperfly Private Ltd., one of the leading online commerce delivery companies in the country, has partnered with Nagad to ensure online payments — only after delivery of the product. This condition had been incorporated to let Nagad customers experience the 'touch and feel' sentiment before actually making the purchase by paying the bills — so far, a unique service in the country's online shopping arena.

COVID-19 and the future

Nagad witnessed a huge growth rate in the online shopping platform from April 2020 and onwards, while the country was still in a lockdown mode due to COVID-19.

In March, the transaction of Nagad in the online shopping territory was only a few crores, whereas it jumped to more than hundred crores between April and May. The growth in the number of transactions is still being maintained even as the lockdown is lifted.

"Our focus is to ensure a convenient digital life for the people of Bangladesh and hence, we are working hard on digitising the payment issues as it is one of the major components of the process," said Tanvir A Mishuk, Managing Director of Nagad, a state owned mobile financial service carrier, offering amenities in partnership with the Bangladesh Post Office.

Mishuk also added, "To promote the digital business, we are also offering huge cash-back offers and other attractive facilities for both the buyer and the seller. To encourage digital purchase and uplift the overall digital culture of the nation, Nagad has recently adopted a tag line — Everything you need, will be done by Nagad."

How to avail services

Customer Onboarding is a very easy process with Nagad, as any interested person simply needs to dial *167# from their mobile phone to open an account. The rest of the process is easily explained after the initial connection is made.

Recent Achievements

Just before the Eid-ul-Azha in 2020, Nagad partnered with e-Commerce Association of Bangladesh (e-CAB) to run the country's first ever online Qurbani Haat, where Nagad had been the disbursement partner. And users were able to pay their bills via Nagad, the one and only mobile financial service provider to provide this unique arrangement. During COVID-19, the concept of online Qurbani Haat, became an instant hit, because Nagad users got scope to purchase their sacrificial animal, hire a butcher and even ensure meat delivery right from their very own safe sanctuary.

In the early days of COVID-19 when everything was shut down, the Bangladesh Post Office made arrangements to bring fruits and vegetables from different parts of the country and deliver it to online retail outlets like Chaldal and MeenaClick. Nagad was the payment partner in this very initiative — significantly contributing to the growth of the 'digital purchase' culture in Bangladesh.

With already set unique initiatives in the market, helping us every moment in our lives and more coming in the way, Nagad is certainly fixed on making lives easier for the Bangladeshi people. Maybe life in the future isn't that bad after all!

Nagad Fun Facts

-- Nagad is offering the lowest rate in the market, Tk 9.99 for every Tk 1000 cash-out (transaction).

-- To help businesses run smoothly and reduce the cost of doing business during the lockdown period, Nagad made an arrangement to reduce rates to only Tk 6 for every Tk 1000 cash-out, so far, the lowest-ever rate offered.

-- With Nagad, users can send money to inmates in prison via the prison authority.

-- Nagad has been the only mobile financial carrier in the market to offer digital payment for COVID-19 tests. Around 2.5 lakh COVID test payments were completed in 2020 via Nagad.

--During the lockdown period around 200 garments manufacturing companies paid their employees' salaries via Nagad.

--11 social welfare organisations are collecting donations at the moment via the Nagad platform, including Bidyaniketon.

--Nagad helps users to pay tuition fees for 24 registered schools, 30 colleges and 18 universities and currently in line to increase the list.

--Internet bills for certain companies can be made online via Nagad: Link3 Technologies, Amber IT, Carnival, KS Network, Triangle.

-- All kinds of gas and electricity bills can be paid online via Nagad.

--Travel payments: Bangladesh Railway and few other long route travel partners are under the process of discussion. Several travel agencies already use the Nagad platform to sell their tickets.

-- Nagad is en-route to incorporating small businesses and street vendors into its business model.

-- All kinds of government disbursement requirements, including safety net allowances are currently performed via Nagad services.


Photo Courtesy: NAGAD

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