MFS
Technical, madrasa students to get stipends through Nagad
The Technical and Madrasah Education Division, Nagad, and the Directorate Of Posts recently signed an agreement to distribute stipends to technical and madrasa students.
The main objective of the initiative is to disburse the stipend among the students in a timely and transparent manner.
Read: Nagad to partner LankaBangla in furthering financial inclusion
Students can visit any Nagad Uddokta point and withdraw their stipend without any charge.
Md Shafayet Alam, executive director of Nagad said, "We have been successfully disbursing allowances and stipends with transparency in association with the government's various types of financial inclusion efforts."
"We have now become involved in the disbursement of stipends to technical and madrasa students."
Read Nagad to partner LankaBangla in furthering financial inclusion
Tap, FairMart sign MoU
Mobile financial services provider Trust Axiata Pay (Tap) and e-commerce platform FairMart have signed an agreement to facilitate shopping ahead of Eid.
Users can now pay through Tap on every purchase from FairMart.
Ashikur Rahman, head of corporate affairs and media relations at Trust Axiata Pay, and Md Ataul Haque, head of business at Fairmart, signed the agreement.
Read: IBBL signs MoU with BRB Hospital
"Now everyone is accustomed to online shopping. So, we have introduced the discount offer to the users to make shopping more enjoyable for them," Ashikur said.
"FairMart is a reliable and safe platform when it comes to online shopping. We hope our consumers will enjoy and benefit from using Tap," Ataul said.
Read DNCC holding taxes can be paid through Tap
Nagad holds 'Distributors Meet 2022'
Mobile financial services provider (MFS) Nagad recently organised "Distributors Meet 2022."
One hundred and sixty-four distributors, regional managers, and market directors of Nagad from across the country participated in the event at a Dhaka hotel.
Read Nagad holds a ‘Get-together’ with DMP's Detective Branch
At the day-long programme, distributors, regional managers, and market directors from various regions were recognised for their accomplishments based on goals or performances.
Tanvir A Mishuk, founder and managing director of Nagad, said: "Since its inception, Nagad has been the world's fastest-growing MFS, with over 6 crore valued customers and nearly Tk1,000 average daily transactions. This has only been made possible due to your collaboration and partnership."
Also read: Healthcare payments: Nagad offers discounts of up to Tk2,350
Nagad holds a ‘Get-together’ with DMP's Detective Branch
Nagad, a mobile financial service, organized a get-together with the Detective Branch (DB) of the Dhaka Metropolitan Police (DMP) to discuss the customers' transactional security in the mobile financial sector.
During the event organized by Nagad’s External Affairs Division, the speakers discussed various elements and areas of the country’s MFS industry.
A K M Hafiz Akhter, Additional Commissioner (DB) of the DMP, was present as the Chief Guest at the event which was held at a city hotel.
Read: Healthcare payments: Nagad offers discounts of up to Tk2,350
Joint Commissioner (DB-North) Md Harun Ar Rashid, Joint Commissioner (DB-South) Mahbub Alam, Niaz Morshed Elite, Executive Director of Nagad Limited and Maruful Islam Jhalak were also present at the event, says a press release of the Nagad.
Lt Col Md Kousar Soukat Ali(retd), Chief of External Affairs Officer of the Nagad, gave the vote of thanks .
Speaking as the chief guest on the occasion, A K M Hafiz Akhter said, "In last three years, 'Nagad' has done exceptionally well. The more innovative services, such as Nagad, that are available, the more individuals will benefit. We want everyone in the market who provides MFS services to succeed, he said."
Read: 'Officers' Club members embrace Nagad at Eid Ananda Mela'
In his speech, Niaz Morshed Elite said, "Since its debut, Nagad has been a popular service among the customers. Nagad's innovation, affordable services, and availability are more up-to-date than those of many other organizations.”
In collaboration with Bangladesh Police, 'Nagad' has already held numerous seminars, including awareness campaigns among the Nagad Uddokta’s on money laundering, terrorism financing, and fraudulent and suspicious transactions in various regions of the country.
Healthcare payments: Nagad offers discounts of up to Tk2,350
Mobile financial services provider Nagad's customers will get discounts while making payments for health checkup fees at several hospitals, mental health centres and dental care.
They will get a discount of up to Tk2,350 on Nagad payment for special health checkups at United Hospital till May 31.
For routine health checkups of customers or their loved ones, customers can buy a health card of Tk1,000 from Sakib 75 Health Care and get a discount of Tk600 if they make the payment through Nagad. The offer can be availed multiple times till July 15.
Also Read: Zakat can be donated to Islamic organisations through Nagad
Nagad is offering up to a 25 percent discount on certain services at Dhaka City Physiotherapy Hospital. The offer will be valid till 15 July.
Customers at Zaynax Health can get a 20 percent discount on healthcare by making a payment through Nagad, which will be valid through July 15.
They will get up to 50 percent discount on specific dental treatments at Dental Pixel Hospital on Nagad payment till July 15.
Read Eid: Nagad offers up to 35% cashback, discount on shopping
Customers can receive discounts of up to 15 percent and 5 percent while making payments for mental healthcare through Nagad at LifeSpring and Bangladesh Psychiatric. The offers will be valid till December 31 at LifeSpring and August 31 at Bangladesh Psychiatric Care.
NID fees can be paid through upay
Customers of mobile financial services provider (MFS) upay can now make payment of different service-related fees such as correction of national identity (NID) card and collection of duplicate NID.
The service will be available to customers through the upay app and USSD code "268."
Upay signed an agreement with the Election Commission (EC) Tuesday.
Read: US-Bangla Airlines offers chance to youths to become pilot
Rezaul Hossain, managing director and chief executive officer of upay, and Mohammad Azizul Islam, director of administration and finance at the NID wing under the EC Secretariat, signed the deal.
Upay, a subsidiary of United Commercial Bank, launched its operation in March 2021.
Since its launching, the company has acquired around 60 lakhs customers. It has more than one lakh agent points across the country, according to a media statement.
Read Healthcare payments: Nagad offers discounts of up to Tk2,350.
BB re-fixes MFS money transaction limit to ease payment during Eid
Bangladesh Bank (BB) has re-fixed the mobile financial service (MFS) transaction ceiling in order to ease payment and transaction during Eid-ul-Fitr.
The central bank has also withdrawn the number of daily transaction times and fixed the daily cash-out limit at Tk 25000 from agent point while the monthly transaction limit is Tk 150000.
Also read: BB issues revised agent banking guidelines
The cash-in limit is fixed at Tk30000 while the monthly limit is set at Tk200000, the person to person (p2p) cash transfer limit has been set at Tk25,000 daily and Tk 200000 monthly.
The MFS account can keep a maximum balance of Tk 300000 in each account.
Besides, bank account to mobile financial service daily money transfer limit has been set at Tk 50,000 while monthly limit at Tk 300000.
Also read: BB starts releasing new notes ahead of Eid
Tap MFS launches iftar offer campaign
Mobile Financial Service ’tap’ (Trust Axiata Pay) has launched its Ramadan ‘Iftar Offer’ to render a delightful experience to its customers. This campaign comes with the offer that allows a ’tap’ user to enjoy 300 tk. promo code of Foodpanda upon 100 tk. mobile recharge.
This special offer will be available till 25th April, for all the current and new TAP users.
To avail the Foodpanda promo code which is worth Tk 300 the ‘tap’ users are required to recharge 100 tk. to any mobile number. The winners will receive the promo code through an SMS within 72 hours. Three winners will get the promo code each hour; consequently 72 lucky winners each day. The users can enjoy the offer by using the promo code while ordering food from the Foodpanda app.
Read DNCC holding taxes can be paid through Tap
However, to grab the ’tap’ iftar offer the users are required to order food of more than 300 tk. One user can win the offer once in a day, although they can win the promo code multiple times during the campaign period. This offer is applicable for ’tap’ customer accounts only and agent wallets will be excluded from this campaign offer.
The Chief Executive Officer (CEO) of tap, Dewan Nazmul Hasan said, ``We want to ensure MFS benefits for everyone and at every level. This can make lives easier for people from all walks of life. On top of that, to encourage the new users we are working on several initiatives that have been translated to this exciting ramadan offer catered specially to our users.”
Chief of Army Staff, General S M Shafiuddin Ahmed, OSP, NDU, PSC, Chairman, Trust Axiata Digital Limited, company that owns ‘tap’, was launched the commercial operation of this mobile financial and payment service at the Trust Bank head office in Dhaka earlier last year on July 28.
Read Tap, Dana sign deal to offer embedded financial services
With MFS booming in the country, `tap’ has brought the service aiming to promote cashless and universal banking meaning anytime-anywhere payments-transactions using mobile phones in Bangladesh. The service will cater to all customers, corporate and government payments like merchant shopping, bill payment, remittance, army recruitment fee, fund transfer, cash-out from agent, add money from bank, insurance bill, passport fees, utility bill, NID fee, tuition fees, mobile recharge, television/DTH bill, Indian visa fee and e-commerce.
It is a joint venture company by Trust Bank Limited, Bangladesh and Axiata Digital Services Sdn Bhd, Malaysia, the controlling entity behind the 2nd largest mobile phone operator Robi-Axiata.
Read Tap launches zakat campaign
Nagad training workshop with Postal officials held
Postal Department's Mobile Financial Service 'Nagad' organised “Workshop 2022“ with the objective of providing guidance to BPO officials in conducting operations of the Bangladesh Postal Department and Nagad.
The training workshop was held on Monday in the auditorium of the Directorate of the Posts in the capital’s Agargaon.
Mustafa Jabbar, Minister for Posts and Telecommunications, was present as the Chief Guest of the training workshop, while Md. Khalilur Rahman, Secretary of Posts and Telecommunications Division was present as a special guest, along with other senior officials from the Postal Department.
Also read: Nagad Islamic brings zakat calculator
Md. Siraz Uddin, Director-General of the Postal Department, presided over the workshop which was also attended by Md. Shafayet Alam, Executive Director of Nagad, Lt. Col Md. Kousar Soukat Ali (retd), Chief External Affairs Officer of Nagad and Md. Mahbub Alam, PPM, DIG (retd) among others, says a press release.
Speaking as the chief guest on the occasion, Mustafa Jabbar said, “Nowadays, Nagad has taken the position of the postal department's money order. Nagad has gone a long way today, thanks to the hard work. I was surprised when Nagad first approached me with the concept of registering an account in a minute.”
“Many organizations have tried to compete with bKash, but none have succeeded. However, Nagad has gone far more than 'bKash' by bringing innovations. Tanvir and Shafayet deserve credit for this,”he added.
Read Healthcare payments: Nagad offers discounts of up to Tk2,350
Khalilur Rahman said, “Nagad conducts everyday transactions of Tk 750 crore. The consumer base has grown to six crores in a very short period of time.”
Through the workshop, local BPO officials were informed about the journey and activities of Nagad from the beginning of the journey to the present, as well as detailed operations of each department and subdivision of the organization (sales, customer service, finance and accounting, innovation and technology, legal, and external affairs) and steps taken by Nagad so far to prevent fraud.
During the workshop Md. Shafayet Alam, Executive Director of Nagad highlighted the various activities of 'Nagad' to the participants present and addressed various questions.
Also read: Nagad wins 'Best Innovative Digital Financial Services Brand' award
Besides, BPO officials shared their important views on the Nagad and Postal department’s current and future achievements during the workshop.
Previously, training workshops were held in Chattogram, Sylhet, Khulna, Barishal, and Bogra for all top officials from the Bangladesh Postal Department's Eastern, Northern, and Southern divisions who operate across the country. Following this, the training workshop on Mobile Financial Services Nagad was organized in Dhaka today. As of now, about 400 officials, including top officials from the Postal Department and the Post Directorate, have received an overview of Nagad through these workshops which also covered Nagad's journey to success in attaining financial inclusion, and local and international recognitions.
Read Eid: Nagad offers up to 35% cashback, discount on shopping
MFS transforming money transactions in Bangladesh, soon to cross Tk. 1 trillion
Retired school teacher Sadekul Islam is too happy to get the opportunity of paying electricity bills through mobile financial service from his resident.
Sadekul, has been living in his own house at the city’s Rampura-Banasree.
Until recently the 67-year-old man had to depend on his home security guard to pay utility bills to avoid standing in a long queue outside a specific bank branch.
Sometimes the security guard made mistakes in bills payment as he was illiterate.
But Sadekul’s real trouble began when the guard left the job during the early wave of Covid-19 pandemic.
Also read: BB concerned over security of nearly Tk 10,000 crore tied up in MFS
This, however, led the aging man to learn from a relative how to pay bills through mobile phone services.
Since then he has been happily using the mobile financial service (MFS) to pay utility bills, mobile flexi load, sending money to relatives and receiving, making servant’s dues payment, purchasing medicine and other necessary commodities etc.
During the pandemic , the MFS brought great opportunities for Sadekul, who was able to bring money in his MFS account from banks’ accounts and make payment of necessary bills without any one’s assistance.
“Never before had I thought that life would be so comfortable. It’s so easy to pay the bills through my mobile phone,” said Sadekul, looking relaxed.
Rubina Akter (26), a garments factory worker in Ashulia, has also a similar story of life being made easy by the MFS.
“Earlier I had worry much about how to send money to mother back home,” said Rubina. “Now I send the money through my mobile phone. The money reaches in just minutes.”
She is now getting a salary at her MFS account. Before that she has to spend too much time in the queue for receiving salary and other allowances.
Rubayet Ferdous, owner of a garments factory of Ashulia, told UNB that MFS and digital money transferring system have brought a revolutionary change in workers’ salary payment.
Before the system came, they had to use trucks along with police scouts for carrying cash to pay the monthly salary of several thousands of workers.
Applauding the MFS and digital payment systems, Ferdous said the industrial sector has got relief from a severe hazard of cash money handling, which is now happening within a moment only.
Also read: Nagad wins 'Best Innovative Digital Financial Services Brand' award
According to Bangladesh Bank (BB), the use of mobile financial service (MFS) has gained momentum in Bangladesh and monthly transactions would cross Tk 1.0 trillion (1 lakh crore) soon.
Experts and sector insiders have said the number of transactions in MFS in the country is increasing with the number of customers due to the convenience of instant payment for purchasing and sending money anywhere in the country.
The BB data shows that Mobile Banking transactions increased by Tk. 2210.8 crore or 3.11 percent to Tk. 73393.3 crore in January 2022 as compared to December 2021. During Jul2021-January2022 Mobile Banking transactions increased by Tk 99663.3 crore or 26.63 percent compared to the same period of the last year.
Earlier in May, 2021, Tk 71,247 crore had been transferred through the MFS, which was the highest transition till the last eight months. In December 2021, the transition was made the 3rd record of Tk 71,182 crore.
Former BB governor Dr Atiur Rahman told UNB that monthly mobile banking transactions would cross Tk 1.0 trillion if the current policy support continues.
Dr Atiur, also a pioneer of mobile banking, said this service creates a huge amount of consumption at the macroeconomic level in the country.
Md. Serajul Islam, executive director and BB spokesperson said the central bank is giving priority to build cashless inclusive financial system, where mobile banking is playing vital role.
The BB would continue policy support to expand easy transaction systems like mobile banking and mobile financial service, he said.