Padma Bank Introduces Convenient Money Transfer Service to DPS via Nagad
Padma Bank Limited has announced a new feature that allows its customers to instantly send money from their Nagad wallet to their Deposit Pension Scheme (DPS). Additionally, loan payments can now be made using Nagad’s mobile financial service (MFS) wallet. The service was inaugurated by Padma Bank’s Deputy Managing Director and Chief Business Officer Mohammed Emtiaz Uddin and Nagad’s Executive Director Maruful Islam Jhalak at Padma Bank’s Gulshan Office.
This collaboration between Padma Bank and Nagad, the digital financial wing of the Postal Department, aims to provide Padma Bank customers with a convenient, reliable, and secure money transfer service at the lowest charges. The press statement highlights the presence of key representatives from both organizations, including Padma Bank’s SEVP and Head of CLMD Sabbir Mohammad Sayem, EVP and COO Syed Tauhid Hossain, Chief Information Technology Officer Md Mosharraf Hossain Khan, Head of Channels and Digital Banking Muhammad Zakaria Karim, and Head of Corporate Affairs and Communications Shayantani Twisha. Nagad’s Deputy General Manager of Business Sales, Md Bayezid, and Md Mehdi also attended the event.
Padma Bank Limited, majority-owned by state-owned banks Sonali Bank, Janata Bank, Agrani Bank, Rupali Bank, and ICB, operates through 60 branches, sub-branches, and agent banking outlets across the country, providing banking services to its customers. Remittance services are available at all Padma Bank branches.
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Nagad, established under the Bangladesh Post Office’s financial authority, was launched on March 26, 2019, with the aim of offering comprehensive digital financial services to the people and small businesses of Bangladesh. Since its inception, Nagad has achieved significant milestones, boasting a customer count of 5.85 Crores, Uddokta count of 2.40 lakhs, and a daily transaction volume of Tk 700 crore, as stated on its website. Nagad’s accomplishments have been recognized through various awards, including the Digital Marketing Award in December 2021 for the “T20 Quiz” campaign and the Fintech Impact Award in November 2021.
