Industry

Nagad launches service for paying Mastercard Credit Card Bill

Nagad, the Mobile Financial Service of Bangladesh Postal Department, Southeast Bank Limited and Mastercard introduced a new feature 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.

By integrating the Nagad app into Mastercard's MoneySend platform via Southeast bank, customers will be able to enjoy this service.

Read: CMP to provide security to Nagad customer’s financial transactions

This service is available to any Bangladeshi bank's Mastercard credit cardholders for domestic payments only.

Speaking as the chief guest, Posts and Telecommunications Mustafa Jabbar said, "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, "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.”

Meanwhile, Mastercard Country Manager Syed Mohammad Kamal said this collaboration with Nagad and Southeast Bank is another milestone in the partnership with the mobile financial services (MFS) sector.

Kamal Hossain, managing director of Southeast Bank, said, "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.”

This service will ease the interoperability between cards and mobile wallets in the country eliminating excessive rush at bill deposit counters and save consumers’ valuable time.

Read:Nagad offers cashback of up to Tk50 on railway ticket

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.

The event was also attended by Executive Director of Nagad Limited Md. Shafayet Alam, Chief Operating Officer of South Asia of Mastercard Vikas Varma, and other higher officials from the organisations.

Source: United News of Bangladesh