Nagad joins Bangla QR network with 10 lakh merchants

Mobile financial services (MFS) provider Nagad Limited has launched the “Bangla QR” payment service for its users.

At the same time, the MFS provider, the digital financial arm of the Postal Department, has also introduced an instant “Transfer Money” feature, enabling seamless fund transfers between personal accounts across all banks and other MFS operators.

With this integration, Nagad joins a nationwide network of nearly 10 lakh merchants under the Bangla QR umbrella, according to a press release.

Aimed at making cashless transactions simpler, safer and more accessible, the MFS provider yesterday integrated Bangla QR with the National Payment Switch Bangladesh (NPSB) network. The move ensures greater transactional freedom for its millions of customers.

To mark the launch of Bangla QR, Nagad organised a mega event at the Banani Chairmanbari Playground in Dhaka, where Md Motasem Billah, administrator of Nagad, inaugurated the service.

Commenting on the launch, Billah said Bangla QR is a revolutionary milestone in making cashless transactions easier, safer and more cost-effective for both consumers and businesses.

“Moving forward, Nagad customers can make cashless payments in the blink of an eye by scanning a single, unified QR code at any shop, seamlessly bringing small traders into the digital payment network.”

“This single QR-based architecture will play a pivotal role in driving financial inclusion and realising the vision of a ‘Cashless Bangladesh’,” he said.

“Furthermore, integration with NPSB establishes an instant connection between Nagad and the country’s banking sector. Customers can now make bidirectional money transfers between Nagad and any bank or MFS account at any time. This will save valuable time by reducing the need for physical bank visits while ensuring complete financial autonomy in their daily transactions,” he added.

It was also announced at the event that Nagad would continue its all-out efforts to popularise Bangla QR.

From now on, Nagad users can make direct payments through the Nagad app by scanning any Bangla QR code displayed at retail outlets, shopping malls, restaurants and local marketplaces across the country.

This consolidated initiative by Bangladesh Bank, now delivered to consumers through Nagad, eliminates the hassle of using separate QR codes for different banks or MFS operators.

The service brings convenience to both consumers and businesses of all sizes.

Merchants will no longer need to display multiple QR codes. A single Bangla QR code is all that Nagad users need to complete payments instantly using their smartphones.

The initiative is expected to streamline business operations and significantly reduce the friction traditionally associated with the adoption of digital payments.