Nagad, UCB partner to expand digital financial services

Nagad, the mobile financial service of the Bangladesh Postal Department, has partnered with United Commercial Bank PLC (UCB) to expand digital financial services and make transactions faster and more convenient.

The agreement was signed at UCB’s corporate head office in Gulshan, Dhaka, on Wednesday. Nagad Chief Commercial Officer Mohummed Shahin Sarwar Bhuiyan and UCB Additional Managing Director Adnan Masud signed the agreement.

Under the partnership, Nagad will facilitate the delivery of inward remittances sent through UCB to mobile wallets across the country, including rural and remote areas. Customers will be able to access the funds 24/7.

Nagad users will also soon be able to pay UCB loan instalments, DPS schemes and credit card EMIs through the platform.

Nagad Senior Associate Administrator Syed Himyanuddin Ahmed said the partnership would help bring digital financial services to unbanked and marginalised people and strengthen the country’s cashless ecosystem.

UCB Additional Managing Director Adnan Masud said the alliance would help deliver remittance proceeds to marginal communities and expand banking services.

Nagad users currently have access to Add Money services from UCB, along with NPSB interoperability and Bangla QR payments.

-AJM