Mobile financial service of the Postal Department Nagad has won 'Mastercard Excellence Award 2022' for its outstanding contribution to digital innovation in Bangladesh’s financial sector.

Nagad has also won this award (second one) in the online category for its remarkable contribution to merchant business.

The distribution ceremony of the 'Mastercard Excellence Award 2022' under the title 'Towards a Smart Transformation' was organised by the internationally recognised organisation Mastercard at a five-star hotel in Dhaka recently.

Mastercard said this award is given to different financial institutions that make contribution to the implementation of smart Bangladesh vision.

Mastercard has awarded 23 such organisations in 15 categories this year, the fourth of such an arrangement. Nagad has won the award in two categories, among a few other multiple winners, for its performances in 2021-22 financial year.

In one category, Nagad has won the recognition of Excellence in Digital Innovation 2021-22 for Mastercard bill payment. Nagad has got recognition in the Excellence in Mastercard Business (Merchant) online 2021-22 category.

Commercial Minister Tipu Munshi joined the award-giving ceremony as the chief guest, which was attended by Bangladesh Bank's Executive Director Md Khurshid Alam as the guest of honor. Mastercard South Asia Chief Operating Officer Bikash Verma and its Bangladesh Country Manager Syed Mohammad Kamal were present among other top executives of partner banks and fintech and merchant partners.

Mr Bikash Vetma said they are glad to recognise the organisations that come up with necessary and innovative digital payment solutions and thus contribute to Bangladesh's growth.

Nagad Founder and Managing Director Tanvir A Mishuk said the awards from Mastercard have added a new feather to Nagad which is trying to include the unbanked people into the financial system.

Nagad has earlier won Best Innovation Digital Financial Service Award for first KYC Innovation in Bangladesh, Inclusive Fintech Fifty Award, Best Digital Financial Service Provider Award, WITSA Global Excellence Award, Digital Bangladesh Award, E-Commerce Mover Award, Best Marketing Communication Award and some other awards.