Nagad reaches milestone of 80 million customers

Nagad, the mobile financial service of the Bangladesh Post Office, has reached a milestone of attaining some 80 million customers, reports BSS.

The country's one of the leading MFS operators has gone past this landmark number recently as such quick on boarding of customers in only four years of its journey is really a great achievement.

Nagad yesterday celebrated such an accomplishment together with the return of its brand ambassador and Bangladesh's cricket star Tamim Iqbal to international cricket after withdrawing his retirement decision. A cake was cut at Nagad's head office to mark these two joyous occasions, said a press release.

Responding to prime minister Sheikh Hasina's call, Tamim Iqbal withdrew his retirement. Later, he came to Nagad's office on Sunday to congratulate the company on its success in reaching a customer base of 80 million.

During the time, Tamim Iqbal said, "Nagad will play a pivotal role in building a cashless society. It will continue to go ahead and acquire more customers at a pace even faster than it has reached the 80-million milestone."

Tamim believes that Nagad is playing an important role in Bangladesh's transition towards a cashless society as planned by prime minister Sheikh Hasina.

Prime minister Sheikh Hasina formally inaugurated the functioning of Nagad on 26 March 2019. In January of 2020, the company reached a milestone of 10 million customers. In August of the same year, its customers increased to 20 million. In 2021, Nagad's customers reached 30 million in March, 40 million in April and 50 million in June. The number of its customers surpassed the milestones of 60 million and 70 million in February and December 2022 respectively.

This time having achieved the 8-crore landmark, Nagad has now become an MFS provider of having the highest number of customers in the country. Nagad has acquired about 51,000 on average a day over the last four years with its daily transactions now hitting Tk 12 billion on average.

Nagad's success in becoming customers' first choice as well as its robust growth in transactions highlights its continuous innovations and introduction of products and services tailored to meet ever-changing consumer demand.

Talking about the milestone of attaining 80 million customers, Tanvir A Mishuk, founder and managing director of Nagad Limited, said, "The positive response that we've been receiving from our customers over the last four years encourages us to go for new innovations and expand our services. We want to bring all kinds of financial transactions of all people in our country to a digital platform. In this way, Nagad will contribute to the country's socioeconomic development."

Riding on Nagad's such innovations, social safety net allowances and education stipends are now being disbursed through this MFS carrier. Besides, Nagad is distributing government aid and allowances of different ministries.