Nagad gets Visa ‘Excellence in Fintech’ award

Global payments service provider Visa has conferred Nagad with the "Excellence in Fintech Product Innovation 2022" award for its recent offering of transferring money from the mobile wallet to any Visa card and the state of art technology with easily accessible payment solutions. 

This is the first time Visa has awarded the title to a mobile financial services provider in Bangladesh, says a press release. 

Visa recently hosted the "Visa Leadership Conclave-Digital Payments for Smart Bangladesh 2022" at the Sheraton Hotel in the capital. 

Salman Fazlur Rahman, MP, Adviser to the Prime Minister on Private Industry and Investment, was present as the chief guest at the event. 

Also present on the occasion were Khurshid Alam, Executive Director, Payment Systems Department, Bangladesh Bank, Scott Brandon, Political and Economic Counselor US Embassy Dhaka, Sandeep Ghosh, Group Country Manager Visa India, and South Asia, Mezbaul Haque, Director, Bangladesh Bank, Nagad's Chief Commercial Officer (CCO) Sadat Adnan Ahmed and Chief Sales Officer (CSO) Md. Shihab Uddin Chowdhury.
"We are delighted to recognise Nagad's contribution through the 'Excellence in Fintech Product Innovation 2022' award and congratulate them," said Soumya Basu, Visa's country manager for Bangladesh, Nepal and Bhutan.

Nagad and Visa jointly pioneered a solution a few months ago that allows consumers to use Nagad to transfer funds directly from their wallet to any bank account linked to a Visa card, he said. 

"Accelerating the interoperability between MFS and banks, we believe this initiative not just makes digital payments convenient but gives consumers the comfort of money movement anytime, anywhere," Basu added. 

Nagad always strives to introduce revolutionary solutions geared towards the benefit of the common people of the country, said Rahel Ahmed, chief executive officer of Nagad, who received the award at the 'Visa Leadership Conclave-Digital Payments for Smart Bangladesh 2022' held recently at the capital's Sheraton Hotel. 

"We want to make people's lives easier and this Visa award will definitely inspire us to come up with more such solutions," Ahmed added. 

Nagad pioneered the system of opening a mobile financial account without the need for any paper documentation. Anyone can open a Nagad account within minutes by dialling *167#.

As of now, Nagad has more than 6 crore subscribers.

Visa Leadership Conclave is a platform for senior industry leaders to discuss and exchange knowledge on payment systems. Through this annual event, Visa recognises its partners and affiliates for their achievements in a variety of areas, enabling the organisations to expand their partnership initiatives.