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Nagad's single-day transaction reaches Tk 953cr

By :The Report Desk
Published : Apr 30, 2022 11:54:00 AM | Business

The daily financial transactions of the postal department's mobile financial service Nagad is poised to cross Tk 1,000 crore as a record amount of Tk 952.81 crore transactions were made on Thursday.

 

Nagad has averaged Tk 700 crores in daily transactions so far, but the volume of transactions continues to grow throughout this festive month centering the Holy Eid ul Fitr.

 

Tanvir A. Mishuk, Managing Director of Nagad, said that the company is thrilled to have attained the milestone of Tk 953 crore transaction in a single day in less than three years of advancing innovative endeavors.

 

He stated that Eid sees a substantial surge in customer transactions.

 

Experts believe that obtaining close to Tk 1,000 crore in a single day is a significant step toward developing a cashless society in Bangladesh.

 

On Thursday, the total cash-out was Tk 237 crore. P2P and Merchant Payment had a combined transaction of over Tk 200 crore, according to sources.

 

Nagad gained popularity after creating the country's first e-KYC method for enrolling customers. 

 

The number of Nagad subscribers has now surpassed 6.25 crore. According to stakeholders, Nagad's wide service network has contributed to this success.