#Spend

Spend

Problem: Ensuring low‑income populations can benefit from formal financial services

Overview

Nagad provides digital financial services to nearly 20 million customers in Bangladesh, ensuring low‑income populations can benefit from formal financial services. Through a digital KYC process, Nagad simplifies the account opening process and creates access to several solutions including CICO, peer‑to‑peer money transfers, mobile recharging, merchant payment, and bill payment. The company also enables salary payments for factory workers, government payments, and digital payments for micro‑merchants and other distributors. Nagad was classified as an emergency service by the government during COVID‑19.