Nagad records over Tk 2,147cr in transactions a day
Nagad, the mobile financial service of the Bangladesh Post Office, has set a new milestone by processing transactions worth Tk 2,147.43crore in a single day.
The record was achieved on last week just a day before the recently celebrated Eid-ul-Fitr.
The strong transaction momentum continued the following day on last week, when transactions through Nagad amounted to Tk 2,064.56crore.
During this period, the number of transactions also doubled compared to figures in regular days. While on average Nagad handles around 75 to 80lakh transactions a day, the number crossed 1crore on several days during this peak period.
On last week, customers conducted a total of 1.63crore transactions, while the following day saw more than 1.52crore in transactions.
Crossing BDT 20,000crore in a single day is not new for Nagad, as the company has previously achieved similar milestones.
However, this time, it has surpassed all previous records. Most of the transactions during these two days were made through cash-in, cash-out, send money, government allowance disbursement, mobile recharge, and payment services.
Remittances also accounted for a significant portion. Marking this new record in both transaction volume and value, Md. Motasem Billah, administrator appointed by Bangladesh Bank at Nagad, expressed his gratitude to customers.
He said, “We believe this record has been possible due to the trust and confidence of the people of the country. As the digital transaction platform of the Post Office, Nagad is continuously improving its services, which is strengthening customer trust and driving higher transaction volumes.”
He also expressed optimism that Nagad will continue to introduce more advanced services for customers in the coming days through improved technology.
Having started its journey seven years ago, Nagad has now established itself as a mature mobile financial service provider. With around 300,000 agent points across the country, it serves millions of customers every day.
By ensuring innovative services and offering some of the lowest cash-out charges, Nagad has brought remarkable changes to the financial sector.
The platform has been playing a crucial role in disbursing government funds, including Family Card benefits, primary and secondary school stipends, grants from the Prime Minister’s Education Assistance Trust, and various social safety net allowances.
In the future, Nagad is also expected to play an important role in distributing funds under initiatives such as farmer cards, allowances for imams and muezzins, and other government subsidies and grants.
