Bangladesh Postal Department’s Mobile Financial Service Nagad, Southeast Bank Limited and Mastercard introduced a new feature on Nagad app that enables users to instantly pay any Mastercard credit card bills, issued in Bangladesh, through the Nagad app.
The announcement was made during a ceremony arranged at Bangladesh Secretariat. Mustafa Jabbar, Hon’ble Minister, Ministry of Posts and Telecommunications Division graced the event as the Chief Guest. Md. Khalilur Rahman, Secretory, Ministry of Posts and Telecommunications was present as special guest. The event was also attended by Tanvir A Mishuk, Founder and Managing Director of Nagad Limited, Md. Shafayet Alam, Executive Director of Nagad Limited, Vikas Varma, Chief Operating Officer of South Asia of Mastercard, Syed Mohammad Kamal, Country Manager of Mastercard Bangladesh, Kamal Hossain, Managing Director of Southeast Bank and other higher officials from the organizations.
By integrating the Nagad app into Mastercard's MoneySend platform via Southeast bank, customers will be able to pay bills for any Bangladeshi bank-issued Mastercard credit card using the Nagad app. This launch will further ease interoperability between cards and mobile wallets in the country.
This service will also enable Nagad users and Mastercard cardholders to save their card information in the Nagad App and pay any amount of bill using their saved cards by tapping the Bill Pay icon on the Nagad App. Customers will no longer require to provide their card information every time they make a bill payment. This service is available to any Bangladeshi bank's Mastercard credit cardholders for domestic payments only. This facility will potentially eliminate excessive rush at bill deposit counters and save consumers’ valuable time.
Speaking as the chief guest, Mustafa Jabbar, Hon'ble Minister for Posts and Telecommunications said, "Technology has now made life easier for everyone. From now on, Mastercard credit cardholders will be able to pay their bills in collaboration with Southeast Bank through Nagad. It will save people's time and money; making their lives easier. I congratulate the concerned involved for taking such an initiative."
Tanvir A Mishuk, Managing Director of Nagad Limited said, "Nagad has been working relentlessly to bring more people to the digital platform and make the transactions simpler.Our partnership with Mastercard and Southeast Bank Limited is yet another significant achievement for us to enable our valued customers to pay their Mastercard credit card bills at their own convenience, from anywhere.”
Syed Mohammad Kamal, Country Manager, Mastercard, Said, “Mastercard is proud to collaborate with one of the leading digital financial service providers, Nagad, to launch the Credit card bill payments service for the First time for Mastercard cardholders in Bangladesh. This collaboration with Nagad and Southeast Bank is another milestone in our partnership with the mobile financial services (MFS) sector.”
Kamal Hossain, Managing Director of Southeast Bank, said, "SEBL aims to contribute significantly to the growth of the national economy. We are here to accelerate our drive to migrate our nation into a developing nation by 2026. Furthermore, this collaboration will take financial inclusion a step forward in ensuring that everyone has access to financial services.”
